Northern Lion's Share Consolidation Effective August 19, 2015
Vancouver, British Columbia / TheNewswire / August 17 2015 - Northern Lion Gold Corp. (the "Company") announces the effective date for the share consolidation of the Company's issued share capital on the basis of sixteen (16) old common shares for one (1) new common share ("the Consolidation") previously approved by the shareholders at the annual general and special meeting held on May 21, 2015. The Consolidation is subject to TSX Venture Exchange approval and the common shares will trade on a post consolidated basis effective August 19, 2015. The Company currently has an aggregate 47,397,094 issued and outstanding common shares. After giving effect to the Consolidation, the Company will have approximately 2,962,318 common shares issued and outstanding. Outstanding stock options and warrants will similarly be adjusted by the Consolidation ratio.
The Company has undertaken this share consolidation due to the current market conditions and the Company will not be changing its name and trading symbol. The Company's new CUSIP number is 665378204 and the new ISIN number is CA6653782046. A Letter of Transmittal with respect to the Consolidation will be mailed to the shareholders of the Company post consolidation describing the process by which shareholders may obtain new certificates representing their consolidated common shares.
About Northern Lion
Northern Lion is committed to building a strong portfolio of projects within mining-friendly and infrastructure-rich areas of Europe.
John Lando, President
For information with respect to Northern Lion or the contents of this news release, please contact the Company at (604) 669-2701, toll free at 1 800 663 0510.
This news release includes "forward-looking information", as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, Company's objectives, goals and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the Company's limited operating history; the need to comply with environmental and governmental regulations; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and, except as required by law, the Company is under no obligation to update or alter any forward-looking information.
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