Golden Spike Announces Effective Date of Share Consolidation and Name Change to Gordon Mining Group Inc.
The expected post-consolidation share count is approximately 12,113,333, subject to rounding adjustments.
Rhea-AI Summary
Golden Spike Resources (GSPRF) plans a 1-for-5 share consolidation and name change to Gordon Mining Group, with trading expected September 30, 2026.
The shares are expected to trade as GORD on the Canadian Securities Exchange at the September 30 opening. Immediately before the consolidation, 60,566,666 common shares were outstanding; afterward, approximately 12,113,333 are expected to be outstanding, subject to rounding. No fractional shares will be issued, and fractional interests will be rounded down to whole shares.
Exercise prices and share amounts under existing options and outstanding warrants will be adjusted for the consolidation. Afterward, approximately 1,055,000 shares will be reserved for option exercises and approximately 6,432,563 for warrant exercises. The board believes the changes will provide more flexibility to pursue future financing, business development and acquisitions.
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Vancouver, British Columbia--(Newsfile Corp. - September 25, 2026) - Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) ("Golden Spike" or the "Company") is pleased to announce that further to its news release on August 17, 2026, the Company will proceed to change its name to "Gordon Mining Group Inc." (the "Name Change") and consolidate the Company's issued and outstanding common shares (the "Shares") on the basis of one (1) post-consolidation Share for every five (5) pre-consolidation Shares (the "Consolidation").
The Shares are expected to begin trading on the Canadian Securities Exchange under the ticker symbol "GORD" at the opening of trading on September 30, 2026. The new CUSIP for the Shares is 38277A103 and the new ISIN is CA38277A1030.
Immediately prior to the Consolidation, the Company had 60,566,666 Shares issued and outstanding. Following completion of the Consolidation, the Company is expected to have approximately 12,113,333 Shares issued and outstanding, subject to adjustments for rounding. No fractional Shares will be issued in connection with the Consolidation. Any fractional interest resulting from the Consolidation will be rounded down to the nearest whole Share.
The exercise price of the Company's existing stock options under the Company's stock option plan, the number of Shares issuable thereunder, and the exercise price and number of Shares issuable under any outstanding warrants of the Company will be adjusted in accordance with the Consolidation. Following the Consolidation, approximately 1,055,000 Shares will be reserved for issuance upon the exercise of outstanding stock options and approximately 6,432,563 Shares will be reserved for issuance upon the exercise of outstanding warrants.
The Board of Directors believes that the Name Change and Consolidation will better align the Company's identity with its strategic objectives and provide greater flexibility to pursue future financing, business development and acquisition opportunities. The Board also believes that the Consolidation may broaden the Company's appeal to investors and support long-term shareholder value. Under the Company's Articles, the Name Change and Consolidation required only Board approval.
About Golden Spike
Golden Spike Resources Corp. (CSE: GLDS), (OTCQB: GSPRF), (FSE: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds
For further information, please contact: Ryan Connacher, Chief Executive Officer, Golden Spike Resources Corp. Tel: 647-987-7458, Email: rjconnacher@icloud.com.
Website: https://www.goldenspikeresources.com
ON BEHALF OF THE BOARD OF DIRECTORS
Ryan Connacher
Golden Spike Resources Corp.
830 - 1100 Melville St.,
Vancouver, BC, V6E 4A6
647-987-7458
rjconnacher@icloud.com
www.goldenspikeresources.com
"Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."
Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" occur. Forward-looking information in this news release includes, but is not limited to, statements regarding the Consolidation and Name Change and the receipt of regulatory and Canadian Securities Exchange approvals.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information contained herein. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or forward-looking information disclosed herein, except in accordance with applicable securities laws.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/316082
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