21:05:59 EDT Wed 17 Jul 2024
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Brigadier Gold Ltd (3)
Symbol BRG
Shares Issued 127,764,202
Close 2024-03-28 C$ 0.005
Market Cap C$ 638,821
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Brigadier Gold proposes share rollback, name change

2024-03-28 10:00 ET - News Release

Mr. Robert Birmingham reports


In connection with a proposed restructuring of Brigadier Gold Ltd., management will seek approval for several special resolutions at Brigadier's coming shareholder meeting.

Given challenges faced by small listed issuers today, management believes the company's ability to attract adequate financing and advance its interests may only be possible through significant changes to the company's capital structure. Thus, management is proposing a consolidation of its outstanding common shares of up to 1:30, which ratio will ultimately be determined by the board of directors, taking into consideration relevant factors, including the continued listing requirements of the TSX Venture Exchange. The matter will be before shareholders at the company's coming general and special shareholder meeting, to be held April 17, 2024.

The shareholder meeting agenda covers additional matters, including, changing the company's name to Pace Metals Ltd. and approval of amended stock option and RSU (restricted share unit) plans to comply with exchange policy updates. The consolidation and name change will subject to regulatory approvals, including approval by the exchange.

Assuming the proposed restructuring is completed and subject to raising additional equity financing, management feels the company will be better positioned to advance current projects and/or acquire other mineral exploration opportunities.

Nemaska2 lithium project, James Bay, Quebec - recap

Sampling of multiple zones of shallow pegmatite mineralization during July, August and September, 2023, at the company's Nemaska2 project did not yield assays of economic lithium concentrations. Subject to raising additional financing and extending underlying property option commitments, the company may be in a position to continue exploration at Nemaska2.

We seek Safe Harbor.

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