Epic Gold announces 5-for-1 share consolidation

Epic Gold Corp. (CSE: EPG) (OTCQB: NFLDF) (FSE: 6340) announced that its board of directors approved a consolidation of all issued and outstanding securities on a five-for-one basis, according to a company statement.

The Toronto-based gold exploration company currently has 214,701,924 shares issued and outstanding, with an additional 9,410,000 shares reserved for issuance upon exercise of outstanding options. Following the consolidation and subject to rounding, Epic Gold will have 42,940,385 common shares outstanding, subject to any shares issued from option exercises prior to the effective date.

The consolidation requires approval under Canadian Securities Exchange policies. The board stated the share consolidation will provide increased flexibility to seek financing opportunities and strategic acquisitions.

Epic Gold does not plan to change its company name in conjunction with the consolidation. The company reported holding approximately $15 million in cash and equivalents and operates four gold exploration projects with historical gold resources.

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