Gold Reach Resources Ltd. Announces Shareholder Approval of a 5/1 Share Consolidation
August 27, 2008
Vancouver, British Columbia: Gold Reach Resources Ltd. (GRH: TSX-V) (the “Company”) is pleased to announce that at its Annual and Special Meeting held August 27, 2008, the shareholders approved a Special Resolution consolidating the Company’s share capital on the basis of one (1) new common share without par value for every five (5) existing common shares without par value. The issued and outstanding shares will be altered from 82,679,336 common shares without par value to 16,535,867 common shares without par value. Any fractional shares resulting from the consolidation will be rounded down to the next whole number. This transaction required the approval of the shareholders and is subject to the acceptance of the TSX Venture Exchange. There will be no name change in conjunction with the consolidation.
Management believes that a consolidation of its share capital will better position the Company to raise the funds it requires to finance further exploration and development of its Seel and Ox properties.
About Gold Reach:
Gold Reach Resources Ltd. is a Canadian exploration company actively involved in the development of the Seel and Ox Lake projects, a 17,149.5 hectare copper-gold-molybdenum-silver project located 120 kilometers south of Houston, BC and eight kilometres east of the producing copper-molybdenum Huckleberry Mine.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, President
For further information, please contact:
Gold Reach Resources
Toll Free: 888-500-4587
Safe Harbour Statement: The Company relies upon litigation protection for “forward-looking statements.”
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