BrightRock Gold Corp. Issues Update to Shareholders on Corporate Developments for 2024
BrightRock Gold Corp. (OTC PINK:BRGC), a lithium exploration company, has provided an update on its corporate developments for 2024. The company has completed audits for 2021 and 2022, and is working on 2023 financials with the goal of becoming a fully reporting issuer. BrightRock is in discussions with investors but hasn't accepted any offers yet, maintaining that current offers don't reflect the true value of their assets. The company withdrew its FINRA application for a name and symbol change due to missing financial reports from 2000-2006, which they're working to correct. The CEO has bought back 787,953 shares for $290,994 since February 2023, and the company plans to amend some convertible notes terms. BrightRock is exploring share reduction options and plans to increase shareholder interaction.
- Completed audits for 2021 and 2022 financial statements
- Working towards becoming a fully reporting issuer in 2024
- CEO bought back 787,953 shares for $290,994 since February 2023
- Plans to amend convertible notes terms from $0.005 to $0.08 per share for 2023 debt
- Exploring share reduction options without stock reversal
- Withdrew FINRA application for name and symbol change due to missing financial reports from 2000-2006
- No acceptable funding offers received yet
- Still relying on CEO and family for financial support
GURNEE, IL / ACCESSWIRE / July 16, 2024 / BrightRock Gold Corp. (OTC PINK:BRGC), a lithium exploration company focused on developing its flagship project, "Revival of the Midnight Owl Mine," Previously known in historical records as the "Lithium King Mine," located about 60 miles from Phoenix, Arizona, is pleased to present an update on ongoing corporate actions.
On the Corporate Action Side, BrightRock will prioritize the following over the next six months.
Status of Audits : BrightRock is pleased to announce that the Company has successfully completed the audit of the Company's financial statements for the periods ending December 31, 2021 and December 31, 2022, (Click for Report Of Independent Registered Public Accounting Firm 2021 & 2022) and are currently working on the preparation of the December 31, 2023 audited financial statements. Once the Company's audited financial Statements have been completed and subsequent interim period reviews, the Company intends filing a Registration Statement with the Securities and Exchange Commission, with the Company's Goal is to become a fully Reporting Issuer in 2024.
Cash on Hand/Funding : The company is currently in ongoing discussions with accredited investors, including both private individuals and institutional entities, and have received a significant number of offers. Nevertheless, up until now, we have not received or agreed to any offer that we consider to be a just assessment of the asset. We are aware of the worth of this asset and we expect it to be accurately reflected in any prospective offer we consider. Currently, CEO Mac J. Shahsavar and his family are still providing financial support for BrightRock and its main project, Midnight Owl.
FINRA, Name and Ticker Symbol Change : In Q4 2023, BrightRock received notification from FINRA, requesting that the Company file missing financial reports with the SEC, from 2000 to 2006. Due to this deficiency, the Company voluntarily withdrew its application with FINRA requesting a Name and Symbol Change. The Company has since discussed this matter with our auditors and are actively working towards a solution to correct this deficiency. Once this deficiency is corrected we will resubmit to FINRA.
Potential Share Reductions/Buybacks/Shareholder Value Generation : Chairman and CEO has bought back 787,953 shares at a cost of
$290,994.00 on the open market since February 2023. With the share price returning to 52-week lows, Insiders may do further buybacks via the open market. Furthermore, BrightRock will amend the terms of a portion of the convertible notes outstanding from a fixed price of .005 per share to 0.08 per share for the debt incurred during 2023. BrightRock is also exploring several options for share reductions, and will keep investors updated as we make progress. Share Reduction option will not include any Reversal of the Stock.
Mac J. Shahsavar, P.Eng BrightRock's Chairman and CEO, stated, "The company intends to become more interactive with the shareholder base in the near future, beginning with an interview opportunity brought to us by JRC StockTalk Live Stream. We will share additional information via our company channels as soon as we obtain it."
About BrightRock Gold Corp.
BrightRock Gold Corp. is a lithium exploration company focused on developing its flagship project "Revival of the Midnight Owl Mine". Previously known in historical records as the "Lithium King Mine," it is located approximately 13 miles east of Wickenburg, Arizona. BrightRock Gold Corp. holds
To learn more about BrightRock Gold Corp. Visit:
Corporate Website: http://brightrockgold.com/and/or https://northamericalithium.com/
Corporate Twitter: https://twitter.com/brightrock_corp
Corporate Linkedin: https://www.linkedin.com/company/brgc-corp
Corporate Instagram: https://www.instagram.com/brightrock_gold_corp/
CONTACT:
BrightRock Gold Corporation
Phone 866-600-5444
brightrockgold@gmail.com
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/BRGC/disclosure
SOURCE: BrightRock Gold Corp.
View the original press release on accesswire.com
FAQ
What is the current status of BrightRock Gold Corp's (BRGC) audits?
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