Gatling Exploration Completes Share Consolidation
Vancouver, British Columbia, December 10, 2020 – Gatling Exploration Inc. (TSXV: GTR; OTCQB: GATGF) (the “Company” or “Gatling”) announces that at market open on Monday, December 14, 2020, its common shares will begin trading on a two old for one new share consolidated basis. The Company’s trading symbol will not change.
There are currently 62,031,240 common shares issued and outstanding. Upon consolidation, there will be approximately 31,015,670 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. The Company will not issue any fractional common shares as a result of the consolidation. Instead, all fractional shares resulting from the consolidation will be rounded down to the nearest whole number. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and the respective exercise prices adjusted accordingly.
Registered shareholders will receive a letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., with instructions for exchanging their pre‑consolidated shares. Shareholders who hold their common shares through a broker or other intermediary and do not have common shares registered in their name, will not need to complete a letter of transmittal. The new CUSIP number for the consolidated shares is 368017208.
The Board of Directors approved the consolidation on November 23, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS,
Jason Billan, President and CEO
Gatling Exploration Inc.
For further information on Gatling, contact Investor Relations
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Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.