Golden Shield Resources Inc announced that it has completed its “go public” transaction by way of a reverse takeover of Golblock Capital Inc.
The RTO constituted a ‘fundamental change’ of Goldblock following the policies of the Canadian Securities Exchange, the company noted.
The common shares of Golden Shield will begin trading on the CSE on February 22, 2022, under the symbol GSRI, subject to the final approval of the CSE.
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Golden Shield’s principal business purpose since incorporation has been the identification, acquisition, evaluation, and exploration of mineral properties in Guyana. The company has acquired three advanced exploration-stage gold properties, Marudi Mountain, Arakaka, and Fish Creek.
On February 15, 2022, Virgin Gold Corp and 1294320 B.C. Ltd, a wholly-owned subsidiary of Goldblock, amalgamated under the Business Corporations Act to form 1348135 B.C. Ltd.
Upon the amalgamation, shareholders of Virgin exchanged their Virgin shares for GSRI Shares, which resulted in the RTO of Goldblock.
In connection with the closing of the RTO, Goldblock also consolidated the existing common shares of Goldblock on the basis of three post-consolidation Goldblock shares each eight pre-consolidation Goldblock shares; and changed its name to ‘Golden Shield Resources Inc.’
In connection with the completion of the RTO, all of the directors and officers of Goldblock resigned, the company noted. The new board of directors and officers include Leo Hathaway, executive chairperson and director; Hilbert Shields, chief executive officer and director; Grant Tanaka chief financial officer, Rory Harding vice president, corporate development; Jennifer Hanson, corporate secretary, Veljko Brcic and Alison Redford as directors.
Following the closing of the transaction, the company has a total of 27,192,348 common shares issued and outstanding. An aggregate of 8,723,119 common shares of the company is subject to escrow, as further described in the listing statement.
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