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Shareholder Meeting |
Q-GOLD ANNOUNCES CONSOLIDATION
SEC 12g 3-2(b) Exemption # 82-4931
Vancouver, British Columbia, January 13, 2012
Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com) announces today a proposed consolidation (the “Consolidation”) of its share capital on the basis of up to sixteen (16) existing common shares for one (1) new common share. Currently, a total of 42,269,503 common shares in the capital of the Company are issued and outstanding. Accordingly, if put into effect on the basis of sixteen (16) existing common shares for one (1) new common share, a total of 2,641,843 common shares in the capital of the Company would be issued and outstanding following the Consolidation, assuming no other change in the issued capital.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company’s stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
The Board of Directors of the Company will ask the shareholders of the Company to approve the Consolidation at a Special Meeting of shareholders to be held on Thursday, February 16, 2012. Further details of the proposed Consolidation are contained in the Company's information circular dated January 16, 2012, a copy of which is available electronically at www.sedar.com.
The Consolidation will enhance the trading value of the common shares and facilitate new equity investment in the Company.
The Consolidation is subject to shareholder approval and acceptance of the TSX Venture Exchange.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals on its Ontario and Arizona prospects.
“Historical reports” referred to in this release have been examined but not verified by a “Qualified Person” under the requirements of NI 43-101 and therefore should not be relied on for any purpose.
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. 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.
