VANCOUVER, BC--(Marketwired - March 31, 2017) - Trek Mining Inc. (TSX VENTURE: TREK) ("Trek"), formerly JDL Gold Corp. (TSX VENTURE: JDL), is pleased to announce that Luna Gold Corp. (TSX: LGC) and JDL Gold Corp. have combined their businesses to create Trek, following final approval by the TSX Venture Exchange ("TSX-V") of the previously announced plan of arrangement (the "Arrangement"). Trek is now trading on the TSX-V under the ticker symbol "TREK".
With the Arrangement closed, 41,709,586 subscription receipts (the "Subscription Receipts") issued pursuant to Trek's previously announced brokered and non-brokered private placement financings have been converted into 41,709,586 common shares (each, a "Common Share") and 41,709,586 common share purchase warrants (each, a "Warrant"). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of C$3.00 with an expiry date of October 6, 2021.
The Common Shares and Warrants issued upon conversion of the Subscription Receipts may be traded by the holders through the facilities of the TSX-V under the symbols "TREK" and "TREK.WT", respectively, and are not subject to a statutory hold period.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
This document contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of the words "will", "may", "subject to" and similar expressions are intended to identify forward-looking statements. Although Trek believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Trek can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Trek's periodic filings with Canadian securities regulators. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and Trek does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.