VANCOUVER, BC, June 10, 2022 /CNW/ – Gold Line Resources Ltd. (TSXV: GLDL) (OTCQB: TLLZF) (“Gold Line” or the “Company”) announces that the Board of Directors of the Company has approved a consolidation of its issued and outstanding share capital on the basis of one new common share for every ten outstanding common shares (the “Consolidation”).
The Combination will be effective at the opening of the market on Wednesday, June 15, 2022 (the “Effective Date”). The Company will not change its name as part of the Combination, but will issue new share certificates under a new CUSIP number 38063G207. The common shares of the Company will continue to trade on the TSX Venture Exchange under its current symbol “GLDL”.
The Company currently has 143,827,993 common shares issued and outstanding. On the Effective Date, the Company will have approximately 14,382,799 Common Shares issued and outstanding. No fractional shares will be issued in connection with the consolidation and any fraction will be rounded to the nearest whole number.
Change of directors
The Company announces the appointment of Geoff Balderson to its board of directors. Mr. Balderson has extensive experience in the financial markets. He has been a founder, director and officer of numerous CSE and TSXV listed companies over the past 15 years. Previously, he was previously an investment advisor at Union Securities and Georgia Pacific Securities.
Mr. Balderson’s appointment follows the resignation of Simon Studer as director. The Company wishes to thank Mr. Studer for his contributions and wishes him continued success in the future.
On behalf of the Gold Line Resources Board of Directors,
CEO and director
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.