Mr. Robert Hinchcliffe reports
GALWAY METALS ANNOUNCES SHARE CONSOLIDATION
Galway Metals Inc. has received final approval from the TSX Venture Exchange to consolidate all of its common shares on the basis of one postconsolidation common share for every three preconsolidation common shares. The common shares of the company will commence trading on a postconsolidation basis under the existing ticker symbol on Jan. 27, 2023.
There are currently 201,549,423 common shares issued and outstanding and, following the consolidation, there will be approximately 67,183,141 common shares issued and outstanding. No fractional common shares will be issued in connection with the consolidation; any fractional interest in common shares resulting form the consolidation will be rounded down to the nearest whole common share.
A letter of transmittal has been mailed to registered shareholders, containing instructions on how such shareholders may exchange their share certificates, evidencing their preconsolidation common shares for new certificates representing the number of postconsolidation common shares to which they are entitled. No other action is required from shareholders.
About Galway Metals Inc.
Galway Metals is focused on creating significant per share value through the exploration and sustainable development of its two 100-per-cent-owned projects in Canada: Clarence Stream, a new high-grade gold district in southwestern New Brunswick, and Estrades, the former-producing high-grade gold-rich polymetallic VMS (volcanic massive sulphide) mine in the northern Abitibi of western Quebec. Galway's activities will be conducted while respecting the environment and communities in which it operates. Galway is well capitalized. The company began trading on Jan. 4, 2013, after its successful spinout to existing shareholders from Galway Resources following the completion of the $340-million (U.S.) sale of that company. With substantially the same management team and board of directors, Galway Metals is keenly intent on creating similar value as it had with Galway Resources.
We seek Safe Harbor.
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