Dec 1 (Reuters) - Banks Island Gold Ltd BOZ.V :
* Announces update, share consolidation, and $3M equity financing
* Says plans to recommence operations at its yellow giant project subject to
completing sufficient financing
* Says tel mine is fully permitted but is subject to a shutdown order issued by
the bc ministry of mines
* It will be filing for and seeking approval of consolidation of co's issued
and outstanding share capital with tsx venture exchange
* Intended consolidation will be on a basis of one post-consolidation common
share for every ten pre-consolidation common shares
* Offering to sell up to 10 million common shares at price of $0.30 per common
share, on post-consolidation basis
* Proceeds from issue of common share units will be used complete permit
amendments applications for yellow giant project
Source text for Eikon
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