Gleichen Added to the Toronto Stock Exchange
Gleichen to list on TSX Feb. 24
2010-02-22 19:16 ET – New Listing
TSX bulletin 2010-0214
An application has been granted for the original listing in the mining category of 433,862,008 common shares of the company, of which 337,647,455 common shares will be issued and outstanding, and 96,214,553 common shares will be reserved for issuance.
An application has also been granted for the listing of 64,089,553 common share purchase warrants, of which 63,485,803 warrants are issued and outstanding, and 603,750 warrants are reserved for issuance. Each warrant entitles the holder to purchase one common share of the company at a price of $1.30 per warrant share at any time prior to 5 p.m. (Toronto time) on Nov. 12, 2011. The warrants were sold pursuant to a private placement of special warrants on Nov. 12, 2009, at $1 per special warrant. Each special warrant was exercised, for no additional consideration into one common share of the company and one-half warrant and these common shares and warrants become freely transferable pursuant to a prospectus dated Jan. 14, 2010.
The common shares and warrants will be listed and posted for trading at the opening on Wednesday, Feb. 24, 2010.
The company is subject to the reporting requirements of Section 501 of the TSX company manual.
Common shares:
Stock symbol: GRL
Cusip: 377357 10 8
Trading currency: Canadian
Warrants:
Stock symbol: GRL.WT
Cusip: 37357 12 4
Trading currency: Canadian
Temporary market-maker: GMP Securities LP
Other markets: The common shares are currently listed on the TSX Venture Exchange under the symbol GRL. The common shares will be delisted from TSX-V on Feb. 24, 2010, upon commencement of trading on TSX.
Incorporation: The company was incorporated under the Company Act of British Columbia on Nov. 13, 1980, under the name Pulsar Energy & Resources Inc. The company filed notices of amendment on: (i) Nov. 30, 1987, to change its name to Star One Resources Inc.; (ii) June 26, 1989, to change its name to Hyder Gold Inc.; and (iii) Aug. 3, 2006, to change its name to Gleichen Resources Ltd.
Fisal year-end: Oct. 31
Nature of business: The company is a Canadian-based gold exploration company engaged in the acquisition, exploration and development of mineral properties. The company’s principal asset is a 78.8-per-cent interest in the Morelos project in Mexico and has exercised a right of first refusal to buy the remaining 21.2 per cent.
Transfer agent and registrar: Computershare Investor Services Inc., Toronto
Dividends: The company has not paid any cash dividends or made other distributions on its common shares to date. There are no restrictions on the ability of the company to pay dividends except as set out under its corporate statute. Any future dividend payments or distributions will be made at the discretion of the board and will depend on the company’s financial needs to finance its exploration program and its future growth, and any other factors that the board deems necessary to consider in the circumstances.
Prospectus offering: Pursuant to a short-form prospectus dated Feb. 16, 2010, 50 million common shares are being sold to the public by Macquarie Capital Markets Canada Ltd., BMO Nesbitt Burns Inc., GMP Securities LP, Dundee Securities Corp. and Jones, Gable & Company Ltd., as underwriters, at a price of $1 per common share, for gross proceeds of $50-million. The offering is scheduled to close before the markets open on Wednesday, Feb. 24, 2010.
