Hedge funds slash bullish wagers on gold before war jitters
Speculators have reduced net-long positions by 3.6%.
VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 2, 2012) – BCGold Corp. (TSX VENTURE:BCG)(PINKSHEETS:BCGOF) (or the “Company”) announces that it has completed the consolidation of its common shares on the basis of one (1) “new” common share for ten (10) “old” common shares as approved by shareholders at the Company’s Extraordinary Meeting held on October 30, 2012. Effective November 5, 2012, the common shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the same stock symbol “BCG”.
Letters of transmittal describing the process by which shareholders may obtain new certificates representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. No fractional shares will be issued under the share consolidation and any fraction will be rounded to the nearest whole number. The new CUSIP/ISIN numbers are 07330A202/CA07330A2020.
Following consolidation and subject to rounding, the Company will have issued and outstanding 9,860,201 common shares. All outstanding options of the Company will be adjusted accordingly to reflect the share consolidation.
About BCGold Corp.
BCGold Corp. (TSX VENTURE:BCG) is focused on exploration and development of its 100%-owned historic Engineer Mine and the adjoining Gold Hill properties, situated in northwestern British Columbia. Since 2007, the Company has incurred approximately $3.5 million in expenditures demonstrating the exploration upside and near term mining potential of these properties. BCGold Corp. is unique in that it not only exposes investors to the prospect of discoveries, but is also positioned to offset exploration costs by monetizing / forward selling gold concentrate recovered from on-site processing of high-grade gold bulk samples at Engineer Mine.
BCGold Corp. has generated 27 early to mid-stage gold and copper-gold properties in British Columbia and Yukon that it will continue to advance through sourcing preferred JV partners.
On behalf of the Board of Directors,
Brian P. Fowler, P. Geo., President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
