This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

LKA Announces Name Change To "LKA Gold Incorporated" And Other Corporate Developments

Stocks in this article: LKAI

GIG HARBOR, Wash., March 15, 2013 /PRNewswire/ -- LKA International, Inc. (OTCQB: LKAID) announced today that it received final approval from FINRA to change the Company's name to "LKA Gold Incorporated" and to reverse spilt the Company's shares on a one-for-two basis. LKA's stock symbol will remain the same ("LKAI") but will carry the additional letter "D" for twenty business days to signify that the stock is trading after giving effect to the reverse split…"post split."

These recent actions are the culmination of a seven-month effort to enhance the Company's recognition within the gold mining industry and prepare for expanded exploration activities at its Golden Wonder mine in Lake City, CO.

According to LKA Chairman, Kye Abraham, "This has been a lengthy process but we believe that adding 'Gold' to our name, changing our share structure and cleaning the debt off our balance sheet puts us in a much better position to maximize shareholder value as we move forward with this exciting project."

Last October, the Company finalized a settlement with creditors to exchange 7,774,221 shares of the Company's common stock for approximately $1.6 million in outstanding debt and warrant obligations

About LKA & The Golden Wonder Mine  From 1998 through the second quarter of 2006, LKA's Golden Wonder mine, with a single mining crew, produced over 133,701 ounces of gold from ore with an average grade of 16.01 oz. (453.8 grams) per ton making it one the richest gold mines in North America. In 2009, LKA commenced an exploration program to re-establish reserves and return the mine to commercial production. Since then, LKA's has shipped bulk ore samples containing more than 2,942 ounces of gold resulting in net gold sales of $3.3 million.  Average ore grades during this exploration program have exceeded 1.52 ounces (43 grams) per ton. Investors are cautioned that a commercially viable ore reserve has yet to be established and there can be no assurance that one will be.

Safe Harbor Statement

LKA's plans to resume/expand Golden Wonder production are subject to a number of conditions including, but not limited to, favorable geology, successful exploration efforts, favorable financing terms/availability, permits, gold prices, market conditions, etc. Mining and related activities are inherently high-risk endeavors and there can be no assurance that LKA will be successful. This press release contains certain forward-looking statements. Statements contained in this press release that are not purely historical are considered forward-looking. When used in this press release, the words "plan", "target", "anticipate," "believe," "estimate," "intend" and "expect" and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding LKA International, Inc.'s future plans for exploration and/or production, future expenses and costs, future liquidity and capital resources, and estimates of ore, ore grades and mineralized material. All forward-looking statements in this press release are based upon information available to LKA International, Inc. on the date of this press release and the Company assumes no obligation to update any such statements. Forward-looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company's actual results could differ materially from those discussed in this press release. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company's reports filed with the Securities and Exchange Commission.

Company Contact:

LKA Gold Incorporated Kye Abraham, President (253) 514-6661 info@lkagold.com  http://www.lkagold.com

Investor Contact:

Riverview Capital Jonathan Barkman, President  (610) 390-2199 jbarkman@riverviewcapitalent.com

 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs