VANCOUVER, Jan. 22, 2015 /CNW/ - On January 21, 2015, the Board of Directors of Fire River Gold Corp. (the "Corporation") (NEX:FAU.H) approved the share consolidation previously approved by the shareholders of the Corporation (the "Shareholders") at the annual and special meeting of Shareholders held on November 6, 2014.
Subject to receipt of NEX approval, the Articles of the Corporation will be amended to consolidate (the "Consolidation") the issued and outstanding common shares of the Corporation on the basis of one (1) post-Consolidation common share for every one hundred (100) pre-Consolidation common shares, resulting in approximately 3,161,570 common shares issued and outstanding.
No fractional post-Consolidation common shares will be issued and no cash consideration will be paid by the Corporation in place of fractional common shares resulting from the Consolidation. Any fractional common shares resulting from the consolidation will be rounded up or down, as the case may be, to the nearest whole number, in accordance with the provisions of Section 83 of the Business Corporations Act (British Columbia).
The Board has concluded that the Consolidation is in the best interests of Corporation as it will position the Corporation to obtain financing and pursue acquisition opportunities in the mineral exploration sector.
Subsequent to NEX approval, letters of transmittal will be sent to Shareholders to be utilized to exchange their common shares for new common shares on a post-Consolidation basis.
The Corporation is not changing its name at this time.
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
Blane W. Wilson
President and CEO
The TSX Venture Exchange, NEX, 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 Fire River Gold Corp.
For further information: Email: [email protected], Telephone: (775) 401 1183, www.firerivergold.com