New Energy Announces Effective Date of Share Consolidation
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New Energy Announces Effective Date of Share Consolidation
Vancouver, British Columbia, March 19, 2024 - New Energy Metals Corp. (TSXV: ENRG) (OTCQB:
NRGYF) (“New Energy ” or the “ Company“), is pleased to announce that further to its news
release dated March 6, 2024, the Company has received final acceptance from the TSX Venture
Exchange (the “ TSXV”) of the consolidation of its common shares on the basis of one (1) post-
consolidation Share for every ten (10) pre-consolidation Shares (the “Share Consolidation”).
Effective at the opening of trading on Monday, March 25, 202 4 (the “ Effective Date ”), the
common shares (the “Common Shares”) of the Company will commence trading on the TSXV on
a consolidated basis. As a result of the Share Consolidation, the 35,846,767 issued and outstanding
Common Shares will be reduced to approximately 3,584,677 Common Shares, with approximately
769,120 Common Shares reserved for issuance. No fractional Shares will be issued, and any post-
consolidated fraction of a Share will be rounded to the nearest whole number of Shares. The
exercise or conversion price and the number of Common Shares issuable under any of the
Company's outstanding convertible instruments will be proportionately adjusted on the Effective
Date.
The name of the Company remains the same following the Share Consolidation, and the
Company will continue to trade under the trading symbol “ENRG” on the TSXV and under the
symbol “NRGYF” on the OTC Markets. The new CUSIP will be 03634K202 and the new ISIN
number will be CA03634K2020.
Shareholders of record as of the Record Date who hold Common Shares represented by a physical
certificate or DRS statement will receive a letter of transmittal from the transfer agent of the
Company, Endeavor Trust Corporation, with instructions on how to exchange their existing
certificates or DRS statements for certificates or DRS statements representing Shares on a post -
Consolidation basis.
Beneficial shareholders who hold their Common Shares through intermediaries (securities
brokers, dealers, banks, financial institutions, etc.) and who have questions regarding how the
Share Consolidation will be processed should contact their intermediaries.
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On behalf of the Board of Directors,
New Energy Metals Corp.
Rishi Kwatra
CEO & Director
Tel: 604-760-3999
About New Energy Metals Corp.
New Energy is a Canadian -based resource company listed on the TSX Venture Exchange under
the symbol ENRG.
The Company has an option to purchase a 100% interest in the Atikokan lithium Project which
comprises 3,788 hectares and is located approximately 12 km east of Atikokan, Ontario. The
claims straddle the contact between a peraluminous S -type muscovite -bearing granite and
metasediments within the Quetico subprovince. The Quetico -Marmion subprovincial boundary
lies just 4 km north of the Property.
The Company also has an option to purchase a 100 -percent interest in the Roslyn lithium
property, covering 5,100 hectares located 25 kilometers southeast of the Georgia Lake pegmatite
field and 35 kilometers southeast of where Rock Tech Lithium just publis hed a preliminary
economic assessment supporting the indicated mineral resource of 10.6 Mt (million tons) grading
0.88 percent lithium oxide and an inferred mineral resource of 4.2 Mt grading 1.0 percent Li2O.
The Company also has an option to purchase a 100 -percent interest in the Troitsa copper
property covering approximately 7,000 hectares located in the Omineca mining division of British
Columbia.
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies
of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Cautionary Note Regarding Forward -Looking Statements: This release includes certain
statements and information that may constitute forward-looking information within the meaning
of applicable Canadian securities laws. Forward -looking statements relate to future events or
future performance and reflect the exp ectations or beliefs of management of the Company
regarding future events. Generally, forward-looking statements and information can be identified
by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such
words and phrases or statements that certain actions, events or results "may", "could", "should",
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"would" or "occur". This information and these statements, referred to herein as "forward‐looking
statements", are not historical facts, are made as of the date of this news release and include
without limitation, statements regarding discussions of future plans, estimates and forecasts and
statements as to management's expectations and intentions with respect to, among other things:
the Share Consolidation.
These forward‐looking statements involve numerous risks and uncertainties, and actual results
might differ materially from results suggested in any forward-looking statements. These risks and
uncertainties include, among other things, the Company not recei ving the necessary regulatory
approvals in respect of any of the transactions contemplated herein.
In making the forward-looking statements in this news release, the Company has applied several
material assumptions, including without limitation, that the Company will receive the necessary
regulatory approvals in respect of each of the transactions contemplated herein.
Although management of the Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward -looking statements or
forward-looking information, there may be other factors that cause res ults not to be as
anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events could differ materially from those anticipated in
such statements. Accordingly, readers shou ld not place undue reliance on forward -looking
statements and forward -looking information. Readers are cautioned that reliance on such
information may not be appropriate for other purposes. The Company does not undertake to
update any forward-looking statement, except as required by applicable securities laws.