VANCOUVER, BC / ACCESSWIRE / April 22, 2024 / Trifecta Gold Ltd. (TSXV:TG) (OTCQB:TRRFF) ("Trifecta" or the "Company") announces that further to its news release dated March 1, 2024, Trifecta has received approval from the TSX Venture Exchange for its one-for-4 share consolidation. The consolidation will be effective at market open April 25, 2024. The Company name will be unchanged, and its common shares will continue to trade under the symbol TG on the TSX Venture Exchange and under the symbol TRRFF on the OTC Markets.
In accordance with the articles and bylaws of the Company, the consolidation was approved by the board of directors of the Company, and shareholder approval is not required. There are currently 80,099,286 shares of Trifecta issued and outstanding, and there will be approximately 20,024,822 shares issued and outstanding post-consolidation. The reason for the consolidation is to tighten the public float so as to facilitate the raising of the required capital to fund Trifecta's obligations under its agreement with Strategic Metals Ltd.
Trifecta recently announced that it entered into a binding agreement with Strategic Metals Ltd. to acquire up to 100% of Mt. Hinton and 10 other highly prospective, intrusion-related gold projects located in Yukon's Tombstone Gold Belt. This is a Non-Arm's Length Transaction so under MI 61-101 the Company plans to seek disinterested shareholder approval at its upcoming Annual General and Special Meeting on June 24th, 2024.
About Trifecta Gold Ltd.
Trifecta is a Canadian-based precious metals exploration company dedicated to increasing shareholder value through the discovery and development of 100% held gold projects in Yukon and Nevada. Initial drilling at its Yuge Gold Project, located in northern Nevada, has identified multiple broad zones of gold mineralization near historical high-grade mines. The Company's Eureka Project hosts an 8 x 2.5 kilometre belt of surface showings and anomalous gold-in-soil that straddle the headwaters of two of the most productive placer creeks in Yukon's southern Klondike Goldfields. The Company's Treble Project covers a large hydrothermal system, located midway between Western Copper and Gold Corporation's Casino Deposit, the largest copper and gold deposit in the Yukon, and Rockhaven Resources Ltd.'s Klaza Deposit, a high-grade gold-silver deposit.
ON BEHALF OF THE BOARD
"Richard Drechsler"
President and CEO
For further information concerning Trifecta or its various exploration projects please visit www.trifectagold.com or contact:
Corporate Information
Trifecta Gold Ltd.
Richard Drechsler
President and CEO
Tel: (604) 687-2522
This news release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of exploration and other risk factors beyond its control, and actual results may differ materially from the expected results.
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 news release.
SOURCE: Trifecta Gold Ltd.