Sky Gold SKYG

2023-03-02 17:45 ET - News Release

Mr. Mike England reports

SKY GOLD CORP. COMPLETES ACQUISITION OF THREE NICKEL-COPPER-COBALT-PLATINUM GROUP ELEMENT PROPERTIES IN THE SHEBANDOWAN GREENSTONE BELT, NORTHWESTERN ONTARIO

The TSX Venture Exchange has accepted for filing with respect to Sky Gold Corp.'s previously announced 100-per-cent acquisition of three nickel-copper-cobalt-platinum-group-element properties, situated in the Shebandowan greenstone belt, in Northwestern Ontario.

As previously announced in the company's Feb. 7, 2023, news release, the company will issue 1.5 million shares, pay $20,000 and grant a 2.5-per-cent net smelter return royalty to the vendors, of which 1.5 per cent can be purchased back any time by the company at its discretion for $2-million. Further, in the event that and subsequent to the closing, Sky Gold determines in its reasonable discretion that an orebody of more than five million tonnes is situated in or on the property, and that such orebody is commercially viable in accordance with industry standards, then the consideration payable by Sky Gold shall be adjusted upward, such that Sky Gold shall issue an additional one million common shares at a price of 7.5 cents in its capital to the vendors, provided that Sky Gold has not sold or otherwise relinquished the property.

Sky Gold Corp.
VANCOUVER, BC / ACCESSWIRE / December 20, 2022 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG) (OTC PINK:SRKZF) announces a proposed consolidation (the "Consolidation") of its common shares (the "Shares") on the basis of three (3) existing Shares for one (1) new Share. Currently, a total of 86,266,597 Shares are issued and outstanding. Accordingly, if put into effect on the basis of three (3) existing Shares for one (1) new Share, an approximate total of 28,755,532 Shares would be issued and outstanding following the Consolidation, assuming no other change in the issued capital.

Management of the Company believes that the Consolidation will increase the Company's flexibility and competitiveness in the market place and make the Company's securities more attractive to a wider audience of potential investors, thereby resulting in a more efficient market for its Shares. Sky is currently assessing numerous properties in the critical minerals space in an effort to strengthen the company's project portfolio. There is no guarantee or assurance that Sky will identify or acquire additional mineral properties.

Too bad you're giving up on SKYG RonS, sad !!!

Time to buy SKYG ?

Bought some more this week RonS,saw the share price at $400 in 2011,any idea what happened and what it was during that period of time ???

News again...

Sky Gold Reports Drill Results From The Mustang Project, Newfoundland


money.tmx.com/en/quote/SKYG/news/7833754...Project_Newfoundland

DearJohn wrote: Yes, the results were not great, but many more targets to test

Agree and still work to be done on the mustang project,ain't over in newfoundland.

I will probably have an update next week. It is a good buy here, as DJ says, many more targets to test and I also like their Nevada property that should be drilled this year.

Yes, the results were not great, but many more targets to test

Obviously,not a home run news release,guess you'll comment very soon RonS on those results posted on a thursday at 15.05 pm,that could explain why the stock was trading on the downside since a couple of days,what's up for tomorrow,back to $0.12 for a while ?

Are you guys adding more shares at those prices under $0.15 ?

Why all that selling since the last 3 days,bought some more,thanks for those who sold..lol.. ?