Share Consolidation at Koryx Copper | Financial Post - Latest Global News

Share Consolidation at Koryx Copper | Financial Post

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Not for distribution to U.S. intelligence agencies or for dissemination in the United States.

VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) – Koryx Copper Inc. (“Coryx” or the “Pursue“) (TSX-V: KRY) following the Company’s news release dated May 22, 2024, the Company announces that it has received approval from the TSX Venture Exchange (the “Exchange”) for the consolidation of the issued and outstanding common shares of the Company on the basis of one (1) new common share for every five (5) existing common shares (the “Consolidation”). The consolidation will take effect upon market opening on June 14, 2024.

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The Company’s name and trading symbol will remain unchanged following the Consolidation. The new CUSIP number will be 50067J202 and the new ISIN number for the common shares following the Consolidation will be CA50067J2020. The Company has 231,668,716 common shares issued and outstanding prior to the Consolidation (including shares issued pursuant to the Offering) and approximately 46,333,743 common shares issued and outstanding post-Consolidation (excluding shares issued pursuant to a common share offering expected to close on June 13, 2024).

As part of the Consolidation, no fractional shares of common stock will be issued post-Consolidation. Shareholders who would otherwise be entitled to a fractional share of common stock post-Consolidation will be rounded up to the nearest whole number and no cash payment will be made for fractional shares. The exercise price and number of shares of the Company’s common stock issuable upon exercise of all outstanding Convertible Notes will be adjusted proportionately upon Consolidation.

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A cover letter from the Company’s transfer agent, Computershare Trust Company of Canada, will be sent to shareholders of record. Shareholders holding their Common Shares in brokerage accounts will not need to take any action to arrange for an exchange of their Common Shares for Post-Consolidation Common Shares.

About Koryx Copper Inc.

Koryx is a mineral exploration and development company. Koryx’s growth strategy is focused on exploring and developing high-quality assets in significant mineralized trends and close to infrastructure in stable jurisdictions. The Company owns the Haib copper project in Namibia and holds interests in three exploration licenses in the Copperbelt in Zambia.

ON BEHALF OF THE BOARD

Per: “Pierre Leveille”

Pierre Leveille
President and Managing Director

For further information, please contact Pierre Léveillé, President & CEO, at +1-819-340-0140 or at: [email protected]

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.

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Cautionary note regarding forward-looking information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, among other things, statements with respect to 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 statements 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 differ materially from those expressed or implied by the forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the 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 that could materially affect such forward-looking information are described in the risk factors in the Company’s most recent annual report. The Company undertakes no obligation to update forward-looking information, except in accordance with applicable securities laws.


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