Brookmount Gold Corp. (Brookmount Explorations, Inc.) Announces Filing for Reduction of Authorized Shares

Rhea-AI Summary

The Board of Directors of Brookmount Gold (OTC: BMXI) announced the filing for a reduction of its authorized shares with the Secretary of State for Nevada. This move aims to optimize the company's capital structure and enhance shareholder value. The reduction will not affect the outstanding shares or current ownership stakes. CEO Nils Ollquist emphasized that this step is beneficial for shareholders as the company seeks to acquire additional high-quality gold assets in Southeast Asia and North America.

Positive

• Filing for reduction of authorized shares to optimize capital structure.
• No effect on outstanding shares or shareholder ownership.
• CEO supports the move as a step toward enhancing shareholder value.
• Active pursuit of additional high-quality gold assets.

Negative

• None.

NEW YORK, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The Board of Directors of OTC-listed Company Brookmount Gold (Brookmount Explorations, Inc.) (OTC: BMXI) (BMXI.US) is pleased to announce that it has filed for the reduction of its authorized shares with the Secretary of State for Nevada. This filing is a significant step in the company's ongoing efforts to optimize its capital structure and improve shareholder value.

The proposed reduction in authorized shares will have no effect on the company's outstanding shares or the relative ownership stakes of current shareholders. It will, however, reduce the number of shares that the company is authorized to issue in the future.

"We believe this filing is in the best interests of our shareholders and is a positive step for the company as a whole," said Nils Ollquist, CEO of Brookmount Gold. "We will continue to explore all opportunities to enhance shareholder value and make the most of our resources."

As an American-listed Company operating gold mines in Southeast Asia and exploration and production assets in North America, founded in 2018, Brookmount Gold is a high-growth gold-producing company. The company is actively looking to secure additional high-quality gold assets with JORC/NI 43-101 verified reserves.

Safe Harbor Statements:
Except for the historical information contained herein, certain of the matters discussed in this communication constitute "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "could," "anticipate," "estimate," "expect," "predict," "project," "future," "potential," "intend," "seek to," “plan," "assume," "believe," "target," "forecast," "goal," "objective," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount’s common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.

Brookmount Gold Corp (Brookmount Explorations, Inc.)

Investor Relations
Ioannis Petratos
ir@bmxigold.com
www.brookmountgold.com
https://www.otcmarkets.com/stock/BMXI

Corporate
corporate@brookmountgold.com

FAQ

What does the reduction of authorized shares mean for BMXI shareholders?

The reduction means there will be fewer shares the company can issue in the future, but it will not affect outstanding shares or current ownership stakes.

Why is Brookmount Gold filing for a share reduction?

The filing aims to optimize the capital structure and improve shareholder value.

What are Brookmount Gold's plans for future growth?

The company is focused on acquiring additional high-quality gold assets in Southeast Asia and North America.

Who is the CEO of Brookmount Gold?

The CEO of Brookmount Gold is Nils Ollquist, who supports the recent share reduction filing.

Is there any impact on the stock price after the share reduction announcement?

While the announcement is seen as positive, actual impacts on stock price will depend on market reactions and future performance.