Mr. Raymond Hrkac reports
GGL RESOURCES CORP.: SHARE CONSOLIDATION
GGL Resources Corp. is set to alter its share capital by consolidating all of its issued and outstanding common shares on the basis of one new common share for five old shares, subject to the approval of the TSX Venture Exchange. The consolidation was approved by the shareholders of the company at the annual general and special meeting held on Aug. 14, 2013.
As at the date hereof, the company has 166,173,693 common shares issued and outstanding. After giving effect to the proposed consolidation, the company will have approximately 33,234,738 common shares issued and outstanding. No fractional shares will be issued. Any fraction of a share resulting from the consolidation will be rounded down to the nearest whole number, if less than one-half of one share, and rounded up, if at least one-half of one share.
The company does not intend to change its name upon completion of the consolidation and anticipates that its stock symbol will remain the same.
Management of the company believes that an amendment to the company's share structure will be favourable to assist in attracting additional equity investment in the company.
We seek Safe Harbor.
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