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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Xau Resources Inc | TSXV:GIG.P | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.055 | 0.05 | 0.05 | 0 | 01:00:00 |
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Giga Capital Corporation ("Giga" or the "Corporation") (TSX VENTURE:GIG.P) announces that it has received the required shareholder and TSX Venture Exchange ("TSXV") approvals to transfer the Corporation's listing to the NEX board of the TSXV as a result of the Corporation's failure to complete a Qualifying Transaction (as defined in the policies of the TSXV) within the time period required by the TSXV. The common shares of Giga will be transferred to the NEX board of the TSXV effective as of the opening of trading on Monday, July 5, 2010. The common shares will continue to remain suspended from trading on the NEX until the Corporation has received all required regulatory approvals and completed its previously announced Qualifying Transaction with Join Pacific Investment Ltd. (the "Proposed QT"), at which time it will be graduated to a Tier 2 issuer and reinstated to trading on the TSXV. If the Proposed QT is not completed, the Corporation will be required to apply to the TSXV for a reinstatement review in order to be reinstated to trading on the NEX. The Corporation can then continue to identify and evaluate potential targets with the objective of completing a Qualifying Transaction. The Proposed QT and all related transactions remain subject to the approval of the TSXV and there can be no assurance that the Proposed QT will be completed as proposed or at all. Additionally, Giga announces that it has received the required shareholder approvals and has cancelled an aggregate of 1,050,000 common shares of the Corporation, representing one half of the seed common shares purchased by Non-Arms Length Parties (as defined in the policies of the TSXV) to Giga, which shares were cancelled pursuant to the policies of the TSXV as a result of Giga's failure to complete a Qualifying Transaction within the time period required by the TSXV. Cautionary Statements Certain statements contained in this news release constitute forward-looking statements, including, without limitation, Giga's future plans, operations and objectives; completion of the Proposed QT and receipt of all required approvals thereto and the timing thereof; the timing of the transfer of the Corporation's listing to the NEX; and timing of Giga's reinstatement to trading on the TSXV or the NEX, as applicable. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the party's control including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources, inability to meet or continue to meet listing requirements, the inability to obtain required consents, permits or approvals, failure to realize the anticipated benefits of the Proposed QT and the risk that actual results will vary from the results forecasted and such variations may be material. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Giga's actual results, performance or achievement could differ materially from those expressed in or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits Giga will derive therefrom. There is no assurance that the necessary approvals for completion of the Proposed QT will be obtained or that some other condition to the closing of the Proposed QT will not be satisfied. Even if such conditions are satisfied, there is risk that closing of the Proposed QT could be delayed and may not meet the timelines anticipated. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law Giga disclaims any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Completion of the Proposed QT is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance. There can be no assurance that the Proposed QT will be completed as proposed or at all.
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