VANCOUVER, British Columbia, July 14, 2023 (GLOBE NEWSWIRE) -- Goat Industries Ltd. (the "Company" or "GOAT") (CSE: GOAT) announce that pursuant to receipt of shareholder approval on July 11, 2023, the Company will be consolidating its issued and outstanding common shares (the "Share(s)") on the basis of one (1) post-Consolidation Share for each one hundred (100) pre-Consolidation Shares (the "Consolidation") effective July 20, 2023 (the "Record Date"). The Company's name and trading symbol will remain the unchanged.
The Consolidation is expected to result in the number of issued and outstanding Shares being reduced from 328,167,950 pre-Consolidated Shares to approximately 3,281,680 post-Consolidation Shares. The Common Shares are expected to begin trading on a post-Share Consolidation basis on the Canadian Securities Exchange when markets open on July 19, 2023.
New ISIN: CA38021J2020
New CUSIP: 38021J202
No fractional Shares will be issued as a result of the Consolidation. Any fractions of a Share less than one half will be rounded down to the nearest whole number of Shares. Any fractions of at least one half will be rounded up to the nearest whole Share. No cash consideration will be paid in respect of fraction shares. Shareholders of record as at the Record Date will receive a letter of transmittal providing instructions for the exchange of existing share certificate(s) evidencing pre-Consolidation Shares for new share certificate(s) representing the number of post-Consolidation Shares to which they are entitled, as soon as practicable following Record Date.
ABOUT GOAT INDUSTRIES
Goat Industries is an investment issuer focused on investing in high-potential companies and assets operating across a variety of sectors. The paramount goal of the Company will be to generate maximum returns from its investments.
CONTACT INFORMATION
Lawrence Hay, CEO
Phone: 604-687-2038
GOAT Industries Ltd.
Investor Relations
Email: alex@goatindustries.co
Phone: 604-687-2038
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY STATEMENT REGARDING "FORWARD-LOOKING" INFORMATION
This news release contains certain forward-looking that may be deemed to include "forward-looking information." Forward-looking statements are frequently characterized by words such as "anticipates", "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed", "positioned" and other similar words, or statements that certain events or conditions "may" or "will" occur. The Company has provided the forward-looking statements in reliance on assumptions that it believes are reasonable at this time. All such forward-looking statements involve substantial known and unknown risks and uncertainties certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; a rising interest rate environment, adverse industry events; future legislative and regulatory developments in the mining sector; the Company's ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties.
The reader is cautioned that the assumptions used in the preparation of the forward-looking statements may prove to be incorrect and the actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits, including the amount of proceeds, the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
