Damara Announces Completion of Consolidation and Name Change

2024-07-16 / @thenewswire

(TheNewswire)

July 16, 2024 – TheNewswire - DAMARA GOLD CORP. (TSX-V:DMR) (“Damara” or the “Company”), announces that further to its news release of May 13, 2024, the Company has received TSX Venture Exchange (the “Exchange”) acceptance for its proposed Consolidation and Name Change.

The Company intends to consolidate its issued and outstanding common shares (the “Common Shares“) on the basis of four (4) pre-consolidated Common Shares for each one (1) new post-consolidated Common Share (the “Consolidation“) effective July 18, 2024. As a result, the pre-Consolidation issued and outstanding 73,515,389 Common Shares will become approximately 18,378,775 post-Consolidation. In the event that the number of post-Consolidation Common Shares held by a shareholder is not evenly divided by four, the number of post-Consolidation Common Shares issued to such shareholder will be rounded down to the next lesser whole number.

The exercise or conversion price, as applicable, and the number of Common Shares issuable under any of the Company's outstanding convertible instruments, have been proportionately adjusted as a result of the Consolidation.

Shareholders who hold their Common Shares in uncertificated form (including Common Shares held through a brokerage account and/or not represented by a physical share certificate) will have their holdings automatically adjusted by the Company's transfer agent or by their brokerage firms, banks, trust or other nominees. Such holders do not need to take any additional actions to exchange their pre-Consolidation Common Shares for post-Consolidation Common Shares. Letters of transmittal have been mailed to all registered shareholders holding physical share certificates with instructions on how to exchange existing share certificates for new share certificates. A copy of the letter of transmittal will also available on the SEDAR website at www.sedarplus.ca.

In connection with the Consolidation the Company has also changed its name to “Bronco Resources Corp.” and will begin trading under its new name at the market opening on Thursday, July 18, 2024 under the symbol “BRON”.

The Company's new CUSIP number is 111911103 and its new ISIN number is CA1119111039.

About Damara

Damara Gold Corp. is a TSX Venture Exchange listed mineral exploration company actively focused on the exploration of the Placer Mountain Gold Property, located in Princeton, BC, held by 84%/16% JV with Universal Copper Ltd. Damara’s Board of Directors is seasoned in the mineral exploration industry with extensive and successful international experience.

ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA

“Corbin Stewart”

Corbin Stewart, President and CEO

For additional information visit Damara’s website at www.damaragoldcorp.com or contact:

Damara Gold Corp.

Corbin Stewart

Chief Executive Officer or

Terese Gieselman

Chief Financial Officer

Ph: (250-717-1840)

Disclaimer for Forward-Looking Information

This news release contains statements that constitute "forward-looking Information", as such term is used in applicable Canadian securities laws. Such forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.

Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by its nature forward-looking information involves assumptions and known and unknown risks, uncertainties and other factors which may cause our actual results, level of activity, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF DAMARA AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE DAMARA MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

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 press release