GRENVILLE ANNOUNCES FINANCING, NAME CHANGE AND CONSOLIDATION
Tuesday, August 31, 2021 12:53 PM

(Vancouver, BC,) Grenville Gold Corporation (OOTC:GVLGF) (GVG:TSX-V)("Grenville" or the "Company") announces that it will be convening an Annual and Special Meeting of Shareholders on October 7, 2010, and one of the resolutions being sought by shareholders will be to a consolidation of the Company's share capital and a change of its name to Peru Silver Mines Ltd.

The Company will be seeking shareholder approval to a consolidation of its shares on a 10 to 1 basis, or such lesser consolidation ratio as may be determined by the board of directors. The Company currently has 55,703,895 shares outstanding and, accordingly, upon completion of the consolidation, 5,570,389 shares will be outstanding.

The share consolidation is being proposed in order to allow the Company greater flexibility in future financings. The Company reserves the option of not consolidating its shares or consolidating at a ratio less than the above.

The share consolidation and change of name are subject to shareholders' approval, and documentation in support being accepted for filing by the TSX Venture Exchange and the Registrar of Companies for the Province of British Columbia.

The Company is also pleased to announce that it has arranged a non-brokered private placement of up to 7,000,000 post-consolidated units at a price of $0.15 per unit. Each unit is comprised of one post-consolidated common share of the Company and one share purchase warrant. Each share purchase warrant will entitle the holder to acquire one post-consolidated common share of the Company at a price of $0.20 for a term of two years from issuance. All securities issued under the Offering will be subject to a four-month hold period from the date of issue. The proceeds of the proposed offering will used for general working capital. A finder's fee may be payable in cash and/or shares on the private placement (or a portion thereof) in connection with the policies of the TSX Venture Exchange.

The proceeds of this private placement will be used for general working capital. Closing of the private placement is subject to TSX Venture Exchange approval.

On behalf of the Board of Directors,

"A. Paul Gill"

CEO & Director

Ph.604-303-1051

info@grenvillegold.com

www.grenvillegoldcorp.com

We Seek Safe Harbor.

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission, the Ontario Securities Commission, and the Alberta Securities Commission.

Copyright (c) 2010 Thenewswire.ca - All rights reserved.

 

Sponsors

Symbol :

Advertisement

Market news:

More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
anamrdaNA JNJ$1.15
XXXXXXXXXX SDRL$0.64
XXXXXXXXXX AXP$0.82
XXXXXXXXXX KWK$0.16
robertXXXXX AIG$0.99
NunyaXXXXX KOG$0.02
xy YRCW($0.09)
XXXXXXXXXX BZH($0.28)
XXXXXXXXXX HOGS$0.35
XXXXXXXXXX AGNC$1.16