loader image

Goldstrike Consolidates its Common Shares

Goldstrike Resources Ltd. (“Goldstrike” or the “Company) announces that it has received ~ 96 % support from the shareholders at the AGM to consolidate its common shares (“Shares”) on a 20-old-for-1-new share basis (the “Consolidation”).

The 190,343,723 Shares currently issued and outstanding will be reduced to approximately 9,517,186 post-Consolidation Shares. No fractional shares will be issued under the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. The exercise or conversion price and the number of shares issuable under any of the Company’s outstanding stock options and convertible instruments, as applicable, will be proportionately adjusted upon completion of the Consolidation. A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their Shares for replacement certificates representing the number of post-consolidation Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Shares prior to the Consolidation will be deemed for all purposes to represent the number of Shares to which the holder thereof is entitled as a result of the Consolidation.

The Board of Directors of the Company believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the Consolidation.

The Consolidation is subject to the acceptance of the TSX Venture Exchange (the “Exchange”) and the preConsolidated Shares will continue to be traded on the Exchange under the current trading symbol “GSR”. Upon acceptance by the exchange, the Company’s trading symbol will remain the same but the CUSIP and ISIN numbers will change upon the completion of the Consolidation.

The Company also announces that William Chornobay has retired from his position as Chief Operating Officer of the Company effective December 20, 2019. He will remain on as special advisor to the company. The Board and management thank him for the many contributions he has made to the Company.

ON BEHALF OF THE BOARD

Daithi MacGearailt

Goldstrike Appoints New CEO

Goldstrike Resources Ltd. (“Goldstrike” or the “Company) announces that Terrence E. King has stepped down as President, CEO and director of the Company effective September 30, 2019 following his retirement from the practice of securities law. The board and management wish him the best with his retirement and would also like to thank him for his steadfast leadership for the last nine years and the significant contributions he has made to the Company.

Effective immediately, management has appointed Daithi MacGearailt to assume the positions of President, CEO and director of Goldstrike. Mr. MacGearailt is a geologist graduated with honours from the National University of Ireland. He has worked as an exploration geologist for over 14 years in Alaska, Nevada, British Columbia and Yukon. During his career, he was involved in several new discoveries and has worked with both junior and senior mining companies covering project generation, property evaluation, and management of multimillion-dollar exploration and drilling programs. In addition to identifying, analyzing, strategizing and negotiating acquisitions or divestments of mineral properties, Mr. MacGearailt has also been instrumental in raising millions of dollars towards the financing of exploration projects.

The Company is well financed with no debt. Management looks forward to working with Mr. MacGearailt to focus on Goldstrike’s growth by identifying potential precious metal opportunities in the Americas.

ON BEHALF OF THE BOARD

William Chornobay
Chief Operating Officer

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com. For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Goldstrike, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Goldstrike Provides Plateau Update

January 24, 2019 – Goldstrike Resources Ltd. (GSR.V) announces that Newmont has elected to discontinue its option to earn an interest in Goldstrike’s 100% owned Plateau Property, Yukon.

“We would like to thank Newmont for its investment and collaboration in sharing its technologies and knowledge with Goldstrike over the past two years,” said President and CEO Terrence King. “Although the Plateau Project currently may not meet the corporate thresholds at Newmont, the extensive data base indicates this district scale system remains a highly prospective exploration asset in a top tier jurisdiction. With plenty of working capital and no debt, Goldstrike remains well positioned for the future.”

ON BEHALF OF THE BOARD

Terrence E. King
President and Chief Executive Officer

For new information from the Company’s programs, please visit Goldstrike’s website at GoldstrikeResources.com. For further information follow the Goldstrike’s tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Goldstrike, by telephone at (604) 210-2150 or by email at jstuart@kingjamescapital.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.