VANCOUVER, BC / ACCESSWIRE / September 20, 2019 / Lincoln Mining Corporation ("Lincoln" or the "Company") (TSXV:LMG) reports that it is contemplating both a name change ("Name Change") and a consolidation ("Consolidation") of its issued and outstanding common shares on the basis of one (1) post-consolidated common share for every ten (10) pre-consolidated common shares.
Currently, a total of 80,645,950 common shares of the Company are issued and outstanding and after the Consolidation, the Company will have approximately 8,064,595 issued and outstanding common shares. Furthermore, the Company also intends to complete a name change from "Lincoln Mining Corporation" to "Lincoln Gold Mining Inc." No trading symbol change is contemplated in connection with the Consolidation and Name Change.
The Consolidation and Company Name Change are subject to the approval of the TSX Venture Exchange ("TSXV") and once the Consolidation and Name Change are approved, a new CUSIP number and letter of transmittal will be sent out to registered shareholders of the Company by the Company's transfer agent, Computershare Trust Company of Canada. The Company anticipates the effective date of the Consolidation and Name Change to take place on September 24, 2019.
The Board of Directors of Lincoln (the "Board") believe that the Consolidation is in the best interest of its shareholders as the Board anticipates that it will provide the Company with greater flexibility to arrange the financings it requires as it continues to transition from a gold exploration company, through the final stages of permitting, to facility construction and gold production. The Board also believes that the proposed Name Change reflects the Company's renewed focus on bringing the Pine Grove gold project into production.
About Lincoln Mining Corp
Lincoln is a Canadian precious metals exploration and development company with two projects in various stages of exploration and development, namely the Pine Grove Property in Nevada and the Oro Cruz gold property in California. In the United States, the company operates under Lincoln Gold US and Lincoln Resource Group Corp., both Nevada corporations.
For more information, please contact Paul Saxton, President and CEO of the Company.
On behalf of Lincoln Mining,
Paul Saxton, President and CEO
Lincoln Mining Corp.
1 (604) 688-7377
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information "and "forward looking statements" within the meaning of applicable Canadian securities laws. Such forward-looking statements include, without limitation: statements with respect to the anticipated effective date for the Consolidation and Name Change. These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would".
Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, gold prices and the receipt of necessary regulatory approvals. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: changes in market conditions, unanticipated costs and expenses, changes in the price of gold, failure to obtain necessary regulatory approvals, and general economic conditions. In addition, mining exploration and development is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. Reference should be made to the Company's public filings available under its profile on www.sedar.com for further risk factors.
These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
SOURCE: Lincoln Mining Corporation