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VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Koryx Copper Inc. (“Koryx” or the "Company") (TSX-V: KRY) further to the Company’s news release on May 22, 2024, the Company announces it received approval of the TSX Venture Exchange (the “Exchange”) for the consolidation of the Company’s issued and outstanding common shares on the basis of one (1) new common shares for every five (5) existing common shares (the “Consolidation”). The Consolidation is effective as at the opening of the market on June 14, 2024.
The Company’s name and trading symbol remain unchanged following the Consolidation. The new CUSIP number will be 50067J202 and the new ISIN number will be CA50067J2020 for the post-Consolidation common shares. The Company has 231,668,716 pre-Consolidation common shares issued and outstanding (including the Shares issued under the Offering), and after the Consolidation there are approximately 46,333,743. post-Consolidation common shares issued and outstanding (excluding the Common shares issued under an offering of common shares that is expected to close on June 13, 2024).
No fractional post-Consolidation common shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a post-Consolidation common share will be rounded up to the nearest whole number and no cash consideration will be paid in respect of fractional shares. The exercise price and number of common shares of the Company, issuable upon exercise of any outstanding convertible securities will be proportionately adjusted pursuant to the Consolidation.
A letter of transmittal from the Company’s transfer agent, Computershare Trust Company of Canada, will be sent to registered shareholders. Shareholders who hold their common shares in brokerages accounts are not required to take action to effect an exchange of their common shares for post-Consolidation common shares.
About Koryx Copper Inc.
Koryx is a mineral exploration and development company. Koryx growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. The Company holds the Haib Copper Project in Namibia and holds an interest in three exploration licenses in the Copperbelt in Zambia
ON BEHALF OF THE BOARD OF DIRECTORS
Per: “Pierre Léveillé”
Pierre Léveillé
President & CEO
More information is available by contacting Pierre Léveillé, President & CEO at +1-819-340-0140 or at: info@koryxcopper.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the use of proceeds from the Company's recently completed financings and the future or prospects of the Company. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect ", "is expected ", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to business, market, and economic risks, uncertainties, and contingencies that may cause actual results, performance, or achievements to be materially different from those expressed or implied by forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, other factors may cause results not to be as anticipated, estimated, or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Other factors which could materially affect such forward-looking information are described in the risk factors in the Company's most recent annual management discussion and analysis. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
