Vancouver, B.C., February 11, 2019. Black Sea Copper & Gold Corp. (TSX-V: BLS, OTCQB: BLSSF) (“Black Sea” or the “Company”) announces that the Company’s Board of Directors has determined that it will proceed with a share consolidation on the basis of 3 old common shares for one new common share (the “Consolidation”). As of today, the Company has 43,966,275 common shares issued and outstanding. After giving effect to the Consolidation, the Company would have approximately 14,655,425 common shares issued and outstanding. Concurrent with the Consolidation, the Company intends to change its name to “QX Metals Corp.” Completion of the Consolidation is subject to the Company’s filing requirements with the TSX Venture Exchange (“TSXV”) and TSXV approval.
The Company considers the Consolidation necessary given the number of outstanding shares and the Company’s present share price. Once the Company has the required TSXV approval, it will announce the effective date of the Consolidation and name change to “QX Metals Corp.”, the new CUSIP number and the transmittal process for shareholders to exchange their shares for the post-Consolidation shares.
About Black Sea Copper & Gold
Black Sea Copper & Gold Corp. is a mineral exploration company active in the Black Sea region of Eastern Europe. The Company has over 4 years of regional experience both technically and operationally within Bulgaria, Serbia, Turkey and Romania, and has established a compliment of local technical, logistical, community and corporate support. Black Sea has demonstrated its ability to identify new copper-gold porphyry and epithermal targets, and believes it has one of the most extensive proprietary geological/exploration databases for Eastern Europe in the industry. The Company is committed to building a robust portfolio of high quality copper and gold projects with the potential to become world-class mining assets.
President and CEO, Black Sea Copper & Gold Corp.
For further information regarding Black Sea Copper & Gold, please visit our website at www.blacksea.ca.
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