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Noricum Gold changing name to Georgian Mining, proposes 1-for-100 consolidation

Noricum Gold Ltd. is changing its name to Georgian Mining Corp. and plans to focus on its 50%-owned Bolnisi copper-gold project in Georgia, it said Sept. 29.

Moreover, the company has proposed to consolidate its existing ordinary share capital in a bid to improve the marketability of its common shares to a wider range of investors.

The proposed consolidation will be undertaken on the basis of 1 new ordinary share for every 100 shares held.

Noricum is expected to have 47,924,853 shares after consolidation.