Arizona Tribune - Troubadour Announces Share Consolidation

As of the date hereof, the Company has 70,068,574 common shares issued and outstanding. Following completion of the Consolidation, the Company expects to have approximately 7,006,857 common shares issued and outstanding, subject to rounding. The effective date and record date of the proposed Consolidation will be announced upon final approval from the TSX Venture Exchange (the "TSXV").

No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded down to the nearest whole share without compensation. The exercise or conversion price, and the number of Common Shares issuable under any of the Company's outstanding convertible securities, will be proportionately adjusted upon the effectiveness of the Consolidation

The Company's transfer agent, Endeavor Trust Corporation, will act as the exchange agent for the Consolidation. The Company will provide additional information regarding the new CUSIP number for the post-consolidation shares once it has been assigned.

Following completion of the Share Consolidation, the Company's common shares will continue to trade on the TSXV under the symbol "TR."

Completion of the Consolidation remains subject to final approval of the TSXV.

ABOUT TROUBADOUR RESOURCES INC.

Troubadour Resources Inc. is a North American mineral acquisition and exploration company focused on the development of quality critical mineral and precious metal properties that are drill-ready with high-upside and expansion potential. Based in Vancouver, BC, Troubadour trades on the TSX Venture Exchange under the symbol TR, the OTC Venture Market under the symbol TROUF, and on the Frankfurt, Berlin and Tradegate Stock Exchanges under the symbol 2QD0/WKN: A3DBDE.

TROUBADOUR RESOURCES INC.

Zachary Kotowych
CEO and Director

For more information, please email Zachary Kotowych at [email protected] or call (437) 855 - 4540

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

This news release may include "forward-looking information" within the meaning of applicable Canadian securities legislation. Such forward-looking information reflects management's current beliefs and is based on a number of estimates and assumptions made by, and information currently available to, the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, statements regarding the proposed consolidation of the Company's common shares, the anticipated record date and timing of the consolidation, and the receipt of all necessary approvals, including approval of the TSX Venture Exchange.

Readers are cautioned that such forward-looking information are neither promises nor guarantees and are subject to known and unknown risks and uncertainties, including but not limited to general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, the risk that required regulatory approvals may not be obtained or may be delayed, the risk that the proposed consolidation may not be completed as anticipated or at all, and other risks inherent in the mining exploration industry.

The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information contained herein, except as required by applicable securities laws.

SOURCE: Troubadour Resources Inc.

View the original press release on ACCESS Newswire

P.A.Mendoza--AT