Reno Gold Shareholders Approve Reverse Stock Split

TORONTO, May 2, 2023 /CNW/ - Reno Gold Corporation ("Reno" or the "Company") (RNGG) announced that its shareholders approved a 1 for 150 reverse stock split, which was authorized by the Company's board of directors. The Company's common stock will begin trading on a post split basis effective May 1, 2023.

A reverse stock split of the common stock of RENO Gold Corp. ("RENO") became effective as of the close of business on May 1, 2023.  Pursuant to this reverse stock split, each one hundred (150) shares of common stock of RENO issued and outstanding as of the date following the reverse stock split was converted into one (1) share of RENO common stock.  As a result of the reverse stock split, holders of certificates representing pre-split shares of RENO common stock have the right to receive, upon surrender of their certificates representing such pre-split shares of RENO common stock, new certificates representing post-split shares of RENO common stock at the ratio of one (1) share of post-split RENO common stock for every hundred (150) shares of pre-split RENO common stock. 

Fractional shares of post-split RENO common stock will not be issued as a result of the reverse stock split, instead, holders of pre-split shares of RENO common stock who otherwise would have been entitled to receive a fractional share as a result of the reverse stock split will be rounded up to next whole post split share for such fractional interests upon the surrender to TSX Trust Company, the Transfer Agent, of certificates representing such shares.

This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.

SOURCE Reno Gold Corp.