NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
QUEBEC CITY, March 28, 2024 (GLOBE NEWSWIRE) -- Robex Resources Inc. ("Robex" or the "Company") (TSXV: RBX) announces today that its Board of Directors has approved the implementation of the consolidation of the issued and outstanding common shares of the Company approved by its shareholders on June 29, 2023, on the basis of one (1) post-consolidation common share for ten (10) pre-consolidation common shares (the "Consolidation"), which will take effect on April 1st, 2024 (the "Effective Date").
As a result, the Company's consolidated shares are expected to commence trading on the TSX Venture Exchange a few days after the Effective Date. After the Consolidation, the shares will have a new CUSIP number and a new ISIN number.
The Consolidation will reduce the number of issued and outstanding common shares of the Company from approximately 844,054,403 common shares to 84,405,449 common shares upon completion of the Consolidation.
No fractional common shares will be issued in connection with the Consolidation and all fractional common shares that would otherwise have been issued will be rounded to the nearest whole common share.
Further information on the Consolidation can be found in the management information circular dated May 19, 2023 available on SEDAR+ at www.sedarplus.ca.
Computershare Investor Services Inc., the Company's transfer agent, will act as exchange agent for the Consolidation. Registered shareholders of the Company will receive a letter of transmittal from the exchange agent in respect of the Consolidation and each registered shareholder will be required to complete and sign it. The letter of transmittal will contain instructions on how to surrender the certificates representing the registered shareholder's common shares. If a registered shareholder does not receive a letter of transmittal in respect of its common shares, sample letters of transmittal will be available on SEDAR+.
Non-registered shareholders (i.e. beneficial shareholders) who hold their common shares through an intermediary (i.e. a securities dealer, bank or financial institution) should note that the intermediary may have different procedures for processing the Consolidation from those that will be put in place by the Company for registered shareholders. Shareholders who hold their common shares through an intermediary who have questions in this regard should contact their intermediary for more information.
About Robex Resources Inc.
Robex is a multi-jurisdictional West African gold production and development company with near-term exploration potential. The Company is dedicated to safe, diverse and responsible operations in the countries in which it operates with a goal to foster sustainable growth. The Company has been operating the Nampala mine in Mali since 2017 and is advancing the long-life low-AISC Kiniero Project in Guinea.
Robex is supported by two strategic shareholders and has the ambition to become a mid-tier gold producer in West Africa.
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