VANCOUVER, Feb. 28, 2012 /CNW/ - Nass Valley Gateway Ltd. wishes to
announce a consolidation of its existing share capital on the basis of
three (3) pre-consolidated common shares for one (1) post-consolidated
common share which will change the presently issued and outstanding
shares from 37,001,303 to approximately 12,333,768. No fractional
common share will be issued as a result of the consolidation. The
Company will not be changing its name and will continue to trade under
its trading symbol "NVG".
The Directors believe that the share consolidation will provide the
Company with increased flexibility to seek additional financing
opportunities to further develop its geothermal exploration
opportunities and the development of its technology projects managed
through its subsidiaries, Nass Energy Inc. and Global Environomic
The Company intends to continue exploring its opportunities for precious
metals through its subsidiary, Kirkland Precious Metals Corp., and
focusing particularly on its property within the Kirkland Lake mining
camp as per the recommendations in the NI 43-101 Report, filed on
Shareholders holding 71.15% of the Company's outstanding common shares
have given their consent to the proposed share consolidation, which
will be subject to the Canadian National Stock Exchange ("CNSX")
approval. The Company will announce the effective date and the mailing
of the letter of transmittal to shareholders in a separate news release
to be issued in due course.
The CNSX has not reviewed, and does not accept responsibility for the
adequacy or accuracy of the content of this news release.
SOURCE Nass Valley Gateway Ltd.
For further information:
Telephone: (250) 621-3286
Chairman & CEO
Telephone: (604) 685-4170