KAL MINERALS CONFIRMS NAME CHANGE AND SPLIT
Vancouver, BC, April 7, 2020 – Tarachi Gold Corp. (formerly Kal Minerals Corp.) (the “Company”) (CSE: KAL) announces that, further to its news release dated April 6, 2020, it has completed the name change from “Kal Minerals Corp.” to “Tarachi Gold Corp.”. In connection with the name change, the Company’s trading symbol will change to “TRG” and the common shares will commence trading on the Canadian Securities Exchange under the new name effective at the opening of trading on April 8, 2020. The new CUSIP for the Company’s common shares is 89609L105 and the new ISIN number is CA87609L1058.
The Company further announces that its common shares will be subdivided on the basis of two (2) new shares for each one (1) old share (the “Stock Split”) applicable to shareholders of record as of the close of business on April 9, 2020 (the “Record Date”). The Company’s common shares will begin trading on a split-adjusted basis effective at the opening of trading on April 8, 2020. After giving effect to the Stock Split, the Company will have approximately 18,966,000 common shares outstanding. Outstanding stock options and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
Shareholders do not need to take any action with respect to the Stock Split. The Stock Split is being conducted on a push-out basis, therefore the Company’s transfer agent will send shareholders of record as of the close of business on the Record Date a DRS advice letter or share certificate representing the additional number of common shares to be received as a result of the Stock Split.
About Kal Minerals Corp.
The Company has entered into an option agreement whereby the Company has the right to acquire a 100% interest in the group of mining concessions known as the Tarachi project located in the Sierra Madre Gold Belt of Eastern Sonora, Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Financial Officer and Director
For further information, please contact Martin Bajic at 604-551-6770.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
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