Shine Minerals Announces Consolidation
News Release - Vancouver, British Columbia – July 20, 2020: Shine Minerals Corp. (TSXV: SMR) (“Shine” or the “Company”) is pleased to announce that the TSX Venture Exchange (the “Exchange”) has approved the Company's share consolidation (the “Consolidation”) on the basis of one (1) post-consolidation common share for every three (3) pre-consolidation common shares.
Currently, a total of 37,938,677 common shares of the Company are issued and outstanding and, after the Consolidation, the Company will have approximately 12,646,225 issued and outstanding common shares.
Effective as of the opening of markets on or about July 22, 2020, the Company will commence trading on the TSX- V on a consolidated basis under the same symbol “SMR”. The post-consolidated common shares of the Company will be assigned a new CUSIP number of 82456M207 (ISIN CA82456M2076).
No fractional post-consolidation common shares will be issued. Where the consolidation will result in a fractional share that is less than one half of a post-consolidation common share, such fractional share will be cancelled, without further compensation. Where the consolidation will result in a fractional share that is one-half of a post-consolidation common share or more, such share will be rounded up to one whole post-consolidation common share.
The exercise price and number of shares of the Company issuable upon the exercise of any outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation.
The Consolidation is not subject to shareholder approval and no name change will be completed in conjunction with the Consolidation.
About Shine Minerals Corp.
Shine Minerals Corp is a Canada-based natural resource focused company. The Company is engaged in the acquisition, exploration, evaluation and development of mineral resource assets.
ON BEHALF OF THE BOARD
Mr. Devinder Randhawa Chief Executive Officer
Tel: 1-866-979-7022
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.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the Company’s plans, other statements relating to the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐ looking information, except as required by law.