WSR Gold Inc. Announces Proposal to Consolidate Its Common Shares and Change Name
21 Novembro 2008 - 8:01PM
Marketwired
The board of directors of WSR Gold Inc. (TSX VENTURE: WSR) ("WSR"
or the "Company") announces a proposal to consolidate the common
shares of the Company on the basis of one (1) "new" common share
for ten (10) "old" common shares and to change its name to "White
Pine Resources Inc." This proposal will be put forward for approval
at the Company's special meeting of shareholders scheduled to be
held on December 16, 2008.
There are currently outstanding approximately 113.1 million
common shares. If approved, the consolidation will reduce the
number of common shares outstanding to approximately 11.3 million.
WSR believes that a reduced number of shares will have numerous
benefits, including facilitating corporate finance transactions.
WSR proposes to change its name to better reflect its current and
ongoing exploration plans.
Further information regarding the proposed share consolidation
and name change will be available in the Company's meting
materials, including the Management Information Circular and letter
of transmittal, which will be mailed to shareholders on November
25, 2008.
Forward Looking Statements:
This press release includes forward-looking statements. Words
such as "believe", "may", "will", "estimate", "intend", and
"expect" (and the negative thereof) usually identify
forward-looking statements. Forward-looking statements are
statements about the future, and are always subject to uncertainty
and risks (both known and unknown), including those discussed under
the heading "Risks and Uncertainties", in WSR's Management's
Discussion and Analysis for the year ended March 31, 2008. Because
of the risks and uncertainty inherently associated with them,
investors should not place undue reliance on forward-looking
statements.
Although management of WSR believes the assumptions used to make
such statements are reasonable as at the date hereof and has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking statements in this release, there may be other
factors that cause results not to be as anticipated, estimated, or
intended. Certain material factors or assumptions are applied by
WSR in making forward-looking statements, including without
limitation factors and assumptions regarding cost and timing of
exploration activities, prices of precious metals, liquidity and
budgets of the Company and general economic and financial
conditions in North America. There can be no assurance that the
forward-looking statements in this release will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. WSR does not
undertake to update any forward-looking statements herein, except
in accordance with applicable securities laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press
release.
Contacts: WSR Gold Inc. John Tait President and Chief Executive
Officer (416) 628-5905
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