VANCOUVER, BRITISH COLUMBIA--(Marketwire - 11/03/10) - KLONDIKE GOLD CORP. (TSX-V:KG - News) (the "Company") is pleased to announce that shareholders of the Company and the TSX Venture Exchange (the "Exchange") have approved the consolidation of the Company's shares on a 15:1 basis. The Company will begin trading on a consolidated basis on Wednesday, November 3, 2010.
CONSOLIDATION:
At the Company's Special Meeting held on October 27, 2010, shareholders approved a consolidation of its share capital on the basis of one (1) new common share for every existing fifteen (15) common shares (the "Consolidation"). Where the exchange resulted in a fractional share, the number of common shares will be rounded to the nearest whole common share. The Consolidation will enhance the marketability of the common share as an investment and facilitate additional financings to fund future operations. Shareholder and Exchange approval of the Consolidation has been received with the record date set as November 3, 2010. The Company will now have a total of 13,625,983 common shares issued and outstanding.
The Company also announces it has reviewed its t Destor West property and has decided not to continue with the option of the property.
About Klondike Gold Corp
Klondike Gold is a large landholder in southeastern British Columbia as well as in the Klondike District of Yukon Territory, an area which produced between six and twelve million ounces of gold during its historic gold rush. The Company also holds a 50% interest with partner Chalice Diamond Corp in approximately 78,000 acres of diamond properties located in the Chapleau-Wawa region of Ontario and a number of properties in southeastern British Columbia.
Please visit the Company's website: www.klondikegoldcorp.com for more information on the diamond properties in Ontario, our holdings in the Klondike and our properties in southeastern BC.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
