VANCOUVER, Nov. 22, 2011 /CNW/ - NSGold Corporation (TSXV: NSX) announces that it will hold a special meeting of shareholders on
December 22, 2011. At the meeting, shareholders will be asked to
consider a special resolution reducing NSGold's paid-up capital, in
connection with the previously-announced "spin-out" of the shares of
NSX Silver Inc., a wholly-owned subsidiary of NSGold, to the
shareholders of NSGold. A reduction of NSGold's paid-up capital is
intended to result in the distribution of the shares of NSX Silver
being treated as non-taxable for most of NSGold's shareholders.
The record date for the special meeting is the close of business on
November 24, 2011. NSGold will mail a management proxy circular in
connection with the special meeting to its shareholders shortly.
NSGold Corporation is a mineral exploration company actively exploring
for gold in Nova Scotia, Canada and silver in Mexico. NSGold's
principal properties are the Mooseland gold property, located in Nova
Scotia, and the Dios Padre property, located in the municipality of
Yecora, State of Sonora, Mexico. NSGold's shares are listed on the TSX
Venture Exchange under the symbol NSX.
This news release contains statements that may constitute
"forward-looking information" or "forward-looking statements" within the meaning of applicable Canadian securities
legislation. Forward-looking information and statements may include, among others,
statements regarding the future plans, costs, objectives or performance
of NSGold Corporation ("NSGold"), or the assumptions underlying any of
the foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate", "intend",
"plan", "estimate" and similar words and the negative form thereof are
used to identify forward-looking statements. Forward-looking
statements should not be read as guarantees of future performance or
results, and will not necessarily be accurate indications of whether,
or the times at or by which, such future performance will be achieved.
No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, or if any of them
do so, what benefits that NSGold or its shareholders will derive.
Forward-looking statements and information are based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond NSGold's control. These risks, uncertainties and
assumptions include, but are not limited to, those described under
"Risks and Uncertainties" in NSGold's Management Discussion and
Analysis for the Year ended December 31, 2010, which is available on
SEDAR at www.sedar.com, and could cause actual events or results to
differ materially from those projected in any forward-looking
statements. NSGold does not intend, nor does NSGold undertake any
obligation, to update or revise any forward-looking information or
statements contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if required
by applicable laws.
Neither 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.
SOURCE NSGOLD CORPORATION
For further information:
Glenn A. Holmes
Chief Financial Officer, NSGold Corporation