June 24, 2010 Vancouver, Canada – Next Gen Metals Inc. (CNSX: N) (“Next Gen” or the “Company”) wishes to announce that on June 21, 2010, it consolidated its existing capital on the basis of two (2) current Next Gen common shares for one (1) new common share of Next Gen. Fractional shares of 0.5 and over will be rounded up and less than 0.5 will be dropped.
The Company’s consolidated common shares will commence trading on the Canadian National Stock Exchange (“CNSX”) on June 28, 2010, with an effective date of June 30, 2010, and the new CUSIP/ISIN number will be 65338Y200/CA65338Y2006. The trading symbol will remain “N”. The consolidation was approved by the Board of Directors of the Company June 21, 2010.
About Next Gen Metals Inc.
Next Gen Metals Inc. “Next Gen” or the “Company” is a diversified mineral exploration company with a focus on gold, silver and base metals projects in North America. Next Gen is developing the Silver Chalice Property, located in Alaska and the recently acquired Fate Gold Project located in the Abitibi Greenstone Belt of Northwest Québec, one of the most famous gold and base metals regions in the world.
Next Gen is the newest company to join the International Metals Group and is listed on the CNSX under the symbol “N”. The new Board of Directors is comprised in part with directors from the International Metals Group (www.internationalmetalsgroup.com) who, along with the new management group, has a combined 150 years or more of experience in all aspects of managing public companies related to the resource industry.
For further information in regards to Next Gen's consolidation, please refer to the "Shareholder Letter" posted on the Company's website.
On behalf of the Board of Directors
"Harry Barr"
Harry Barr
President & CEO
Next Gen Metals Inc.
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements.
Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
