VANCOUVER, British Columbia--(BUSINESS WIRE)--Black Dragon Gold Corp. (TSX-V:BDG) ("Black Dragon" or the "Company") announces that the Company proposes to undertake a consolidation of the Company's issued and outstanding common shares (the "Shares") on the basis of three (3) old Shares for one (1) new Share (the "Consolidation"). The proposed Consolidation is subject to, among other things, requisite TSX Venture Exchange approval.
Management has carefully considered the Consolidation and concluded that it is in the best interest of the Company and its shareholders. The Company will not be changing its name or its stock symbol in conjunction with the Consolidation.
As of the date hereof, Black Dragon has 236,588,374 Shares issued and outstanding. Following completion of the Consolidation, the Company will have approximately 78,862,791 Shares outstanding. No fractional Shares will be issued pursuant to the Consolidation. If, as a result of the Consolidation, a shareholder would otherwise become entitled to a fractional Share, such fraction will be rounded down to the nearest whole number and no payment shall be received by a shareholder as a result of such rounding down.
Signed "Paul Cronin"
Chief Executive Officer
on behalf of the Board of Directors
About Black Dragon Gold
Black Dragon Gold "BDG" is the 100% owner of the largest undeveloped gold project in Europe, the Salave project. Salave is situated in the North of Spain in the province of Asturias. For more information on the Salave project, please refer to the technical report, "Amended Technical Report on the Salave Gold Project, Asturias Region, Spain" dated October 7, 2016, as amended January 31, 2017, filed on SEDAR. In addition to the current mineral resource, historical exploration work suggests there is the potential for additional mineralisation within Black Dragon's landholdings.
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.