VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / Industria Metals Inc. is pleased to announce that it has changed its name to Goldplay Mining Inc. ("Goldplay" or the "Company"), effective today. This name has been chosen to align the Company's strategic focus of identifying, acquiring, exploring and developing gold assets.
In order to strengthen the Company's Board of Directors and management team, a world renowned mining professional and highly experienced Board Chairman along with a a new CFO and Corporate Secretary have been appointed to Goldplay with an effective date of November 30 2020.
Mr. Deepak Malhotra. Ph.D. has been appointed as Chairman of Company's Board of directors.
Mr. Malhotra is a world-renowned mineral processing expert with over 48 years of mining industry experience. He holds a Ph.D., in Mineral Economics and a M.S. in Metallurgical Engineering. He has managed projects in research, process development for new projects, processing plant troubleshooting, plant audits, detailed engineering and overall business management. He has helped commercialize multiple mineral processing plants with capital ranging from US$15M to US$750M and has performed more than twenty-five audits of mining operations worldwide. He holds four patents and has published over 80 articles and edited several books.
In order to facilitate Mr. Malhotra's appointment to Company's board of directors Mr. Joseph Mullin has resigned as a director as of the same date. The Company would like to thank Mr. Mullin for all his contributions.
Mr. Mihai Draguleasa has been appointed as Chief Financial Officer and Corporate Secretary.
Mr. Draguleasa is a Chartered Professional Accountant (CPA) with over 10 years of accounting experience. He earned his CPA in Vancouver, British Columbia while working in the multinational public accounting firms Deloitte and Ernst & Young. His mining related financial work experience at Deloitte and Ernst & Young included due diligence reviews, audits, and tax recovery projects for large and medium sized mining companies. He is the principal of Lazuli CPA Inc, a professional accounting corporation providing tax, financial statement compilation and other accounting related consulting services to small businesses based in BC. He also holds a bachelor's degree in engineering from the University of Transylvania in Romania.
In order to facilitate Mr. Draguleasa's appointment Mr. Andrew MacRitchie has resigned as Company's CFO as of the same date. The Company would like to thank Mr. MacRitchie for all his work since the inception of the Company.
In light of Company's planned listing application on the TSX Venture Exchange, the Company will be completing a consolidation of its common shares ("Common shares") on the basis of 1 post-consolidation Common Share for 10 pre-consolidation Common shares (the "Consolidation").
As part of the Consolidation, the 201,068,147 issued and outstanding Common shares of the Company will be consolidated into 20,106,815 post consolidation Common shares. No fractional shares will be issued under the Consolidation. Any fractional Common share arising on the consolidation of the Common Shares of the Company, if it is less than one-half of a share, be deemed to have been tendered by its registered owner to the Company for cancellation and will be returned to the authorized but unissued share capital of the Company and any fraction, if it is at least one-half of a share, be changed into one whole share.
The exercise price and the number of Common Shares issuable under any of the Company's outstanding convertible securities such as warrants, will be proportionately adjusted upon completion of the Consolidation. The CUSIP and ISIN numbers of the post-Consolidation Common Shares will also change upon the completion of the Consolidation. The Consolidation is anticipated to become effective during December 2020.
On the effective date of Consolidation, the Company's transfer agent, TMX Trust, will send a letter of transmittal to registered shareholders providing instructions to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of post-consolidation Common Shares to which they are entitled. Until surrendered, each certificate representing Common Shares prior to the Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation. Non-registered beneficial holders who hold their shares in brokerage accounts are not required to take any action to effect the exchange of their shares.
For more information concerning the Company, please refer to the Company's profile on the SEDAR website at www.sedar.com and on Company's website at www.goldplaymining.ca.
On behalf of the Board of Directors
"Catalin Kilofliski"
Catalin Kilofliski
President, CEO & Director
For further information please contact:
Goldplay Mining Inc.
Mr. Catalin Kilofliski, President & CEO
Suite 650 - 1021 West Hastings Street
Vancouver, BC V6E 0C3
T: (604) 655-1420
E: cchiloflischi@gmail.com
www.goldplaymining.ca
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities laws relating to exploration of mineral properties, potential listing of the company on a stock exchange, and other associated matters. Although the Company believes current conditions and expected future developments and other factors that have been considered are appropriate and that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Company can give no assurance that they will prove to be correct or enduring. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, that the outcome of exploration results may not be as currently expected, that the listing on a stock exchange may not happen on a timely basis, or at all. The statements in this press release are made as of the date of this release.
SOURCE: Goldplay Mining Inc.
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