Vancouver, May 25, 2023 - Angold Resources Ltd. (TSXV: AAU) (FSE: 13L) ("Angold" or the "Company") announces that the Company will undertake a consolidation ("Consolidation") of it's outstanding common shares on the basis of one (1) post-Consolidation for every ten (10) pre-Consolidation shares. The Consolidation has been approved by the directors of the Company, in accordance with the Articles of the Company.
As of the date of this news release, the Company has 144,705,502 common shares issued and outstanding. Following completion of the Consolidation, the Company is expected to have approximately 14,470,550 common shares issued and outstanding. The exercise price and number of common shares issuable upon the exercise of the Company's outstanding options and warrants will also be proportionally adjusted upon completion of the Consolidation.
Completion of the Consolidation remains subject to the approval of the TSX Venture Exchange. The Company will issue a further news release once such approval has been obtained and effective date for the Consolidation determined.
About Angold Resources Ltd.
Angold is an exploration and development company targeting large-scale mineral systems in proven gold districts in Chile and Ontario.
ON BEHALF OF THE BOARD OF DIRECTORS
Galen McNamara, Chairman and Interim CEO
Further information on Angold can be found on the Company's website at www.angoldresources.com and at www.sedar.com, or by contacting the Company by email at email@example.com.
Forward-Looking Statements: This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance and include expectations regarding completion of the Consolidation. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release. Forward-looking information are based on management of the parties' reasonable assumptions, estimates, expectations, analyses and opinions, which are based on such management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect.
The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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