Toronto, Ontario–(Newsfile Corp. – November 26, 2014) – Highvista Gold Inc. (TSXV: HVV) ("Highvista" or the "Company") announces that Paul Crath has been appointed as a Director and the new President and CEO of the Company. Highvista would also like to declare that it will be immediately filing for a consolidation of the Company's outstanding common shares.
Paul has 20 years of experience in merchant banking and as a mergers and acquisition executive, and financier. Currently, he is a Managing Director of Norvista Resources Corporation and Norvista Capital Corporation. and is a Director of McLaren Resources Inc. He has a Juris Doctor degree from Osgoode Hall Law School at York University, Toronto and is a member of the New York State Bar Association. Mr. Crath has extensive knowledge in mergers and acquisitions and will be focusing on corporate development and business alternatives for the Company moving forward.
The Company will also be proceeding with a common share consolidation on a basis of one post-consolidation common share for every 10 pre-consolidation common shares. The Company currently has 39,881,900 common shares outstanding and after the proposed share consolidation the Company will have a post consolidation total of 3,988,190 common shares outstanding. The terms of the share consolidation were previously voted on and approved by the shareholders at the Company's Special Shareholders meeting held on June 11th, 2014. The share consolidation is subject to TSXV acceptance.
The Company's outstanding options and warrants will also be adjusted on the same basis (1 for 10) as the common shares, with proportionate adjustments being made to exercise prices. The board of directors believes that the proposed share consolidation will better position the Company for business development alternatives.
Highvista owns 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project. This project is located in the Sonoran Gold Belt immediately adjacent to AuRico Gold's El Chanate Mine. Details of Highvista's Canasta Dorada Project can be viewed at the Company's website at www.highvistagold.com.
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Highvista Gold Inc.'s filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.highvistagold.com
For further information, please contact:
Highvista Gold Inc. Paul Crath, President and CEO Tel: (416) 682-2674 Fax: (416) 504-4129
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