FINALLY UCM READY TO MOVE ON. LETS HOPE THERE IS A FUTURE!! UPPER CANYON ANNOUNCES EFFECTIVE DATE FOR SHARE CONSOLIDATION AND NAME CHANGE
Effective as of Dec. 17, 2020, Upper Canyon Minerals Corp. will implement the previously announced name change from Upper Canyon Minerals Corp. to Savannah Minerals Corp. and consolidate its outstanding common shares on the basis of one postconsolidation common share for every four preconsolidated common shares. The company has received approval of the name change and share consolidation from the NEX board of the TSX Venture Exchange.
Following the name change and share consolidation, the common shares will trade on the NEX board of the TSX-V under the symbol SV.H. The common shares are scheduled to begin trading on a postconsolidation basis at market open on Dec. 17, 2020. The new Cusip number will be 805010105 and the new ISIN number will be CA8050101051. Following the share consolidation, the company will have approximately 4,911,868 common shares issued and outstanding. A letter of transmittal will be mailed to all registered shareholders with instructions on how to exchange their existing share certificate(s) for new share certificate(s).
No fractional common shares will be issued upon the share consolidation. In the event a holder of common shares would otherwise be entitled to receive a fractional common share in connection with the share consolidation, the number of common shares to be received by such shareholder will be rounded down to the next whole number if that fractional common share is less than one-half of a common share, and will be rounded up to the next whole number of common shares if that fractional common share is equal to or greater than one-half of a common share.
The exercise or conversion price of, and the number of common shares issuable under, any convertible securities of the company will be proportionately adjusted upon the completion of the share consolidation.
About Upper Canyon Minerals Corp.
Upper Canyon Minerals is a mineral exploration corporation actively searching for resource exploration projects in North America and worldwide.