VANCOUVER, BRITISH COLUMBIA - KLONDIKE GOLD CORP. (TSX VENTURE:KG
- News; the
"Company") is pleased to announce that shareholders of the Company
and the TSX Venture Exchange (the "Exchange") have approved the
consolidation of the Company's shares on a 15:1 basis. The Company will begin
trading on a consolidated basis on Wednesday, November 3, 2010.
CONSOLIDATION:
At the Company's Special Meeting
held on October 27, 2010, shareholders approved a consolidation of its share
capital on the basis of one (1) new common share for every existing fifteen
(15) common shares (the "Consolidation"). Where the exchange
resulted in a fractional share, the number of common shares will be rounded
to the nearest whole common share. The Consolidation will enhance the
marketability of the common share as an investment and facilitate additional
financings to fund future operations. Shareholder and Exchange approval of
the Consolidation has been received with the record date set as November 3,
2010. The Company will now have a total of 13,625,983 common shares issued
and outstanding.
The Company also announces it has
reviewed its t Destor West property and has decided
not to continue with the option of the property.
About Klondike Gold Corp
Klondike Gold is a large
landholder in southeastern British Columbia as well as in the Klondike
District of Yukon Territory, an area which produced between six and twelve
million ounces of gold during its historic gold rush. The Company also holds
a 50% interest with partner Chalice Diamond Corp in approximately 78,000
acres of diamond properties located in the Chapleau-Wawa
region of Ontario and a number of properties in southeastern British
Columbia.
Please visit the Company's
website: www.klondikegoldcorp.com for more information on the diamond
properties in Ontario, our holdings in the Klondike and our properties in
southeastern BC.
The statements made in this Press
Release may contain forward-looking statements that may involve a number of
risks and uncertainties. Actual events or results could differ materially
from the Company's expectations and projections.
The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this news release.
Contact:
Alan Campbell
Hughes Exploration Group
Investor Relations
(604) 685-2222
(604) 685-3764 (FAX)
Kevin Hull
Hughes Exploration Group
Investor Relations
(604) 685-2222
(604) 685-3764 (FAX)
info@klondikegoldcorp.com
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