TORONTO, CANADA -- (Marketwire) -- 05/29/12 -- REBgold Corporation (TSX VENTURE: RBG) (the "Company") announces that at the shareholders meeting held on May 23, 2012, shareholders approved the consolidation of the Company's shares on the basis of one post-consolidation common share for each ten pre-consolidation common shares. The share consolidation is effective May 30, 2012. The Company's post-consolidation Common Shares will be posted for trading on the TSX Venture Exchange ("TSXV") at the opening tomorrow, May 30, 2012 under the current symbol "RBG" and new CUSIP number 756183208.
The 182,258,486 Common Shares issued and outstanding prior to the Consolidation have been consolidated to approximately 18,225,849 Common Shares. If, as a result of the Consolidation, a Shareholder would otherwise be entitled to a fraction of a post-Consolidation Common Share, the number of post-Consolidation Common Shares will be rounded up to the nearest whole number. The Company's currently outstanding stock options and warrants will be adjusted on the same basis with proportionate adjustments being made to the stock option and warrant exercise prices.
REBgold PROFILE
REBgold is in the process of acquiring and developing economic interests in gold assets, in particular, where it can utilize its competitive advantages, to create shareholder value.
The Company's key competitive advantages include an experienced board and management team, strategic investor backing and proprietary technology. The Company's bacterial oxidation and bioleaching technologies are commercially proven for the liberation of precious metals from difficult-to-treat sulphide ores and concentrates, with environmental and economic benefits. To date, the Company's BACOX technology has been used at three gold mines located in Western Australia, Tasmania and China.
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.
Contacts:
REBgold Corporation
EJ Spencer
Corporate and Investor Relations
416-646-1850 X 242