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February 27, 2009, Vancouver, B.C.: Lateegra Gold Corp. (the "Company") (LRG-TSX.V LTG-Frankfurt) announces that at its annual general and special meeting scheduled for March 24, 2009, shareholders will be asked to consider and if thought fit, approve a special resolution consolidating all of its common shares on a ten (10) old for one (1) new common share basis or such other lower ratio as the directors may determine. There are currently 38,332,600 common shares are issued and outstanding, and if the proposed consolidation of ten old for one new share takes place, there would be approximately 3,833,260 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. Outstanding stock options and share purchase warrants will also be adjusted by the consolidation ratio and the respective exercise prices of outstanding stock options and warrants will be adjusted accordingly. The Company will not be changing its name in conjunction with the consolidation. The consolidation is subject to the approval of the TSX Venture Exchange.
Management of the Company believes that further equity financing is required in order for the Company to fund its current working capital requirements and for future business purposes. It is management's opinion that the Company's existing issued and outstanding share capital is not conducive to completing such additional equity financing and that the consolidation is required in order to attract new equity investment in the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
"Christopher Verrico", CEO and Director
THE TSX VENTURE EXCHANGE HAS NOT YET REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE
Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
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Lateegra Gold Corp. 
