Name Change and Consolidation
News Release – November 6, 2015
NAME CHANGE AND CONSOLIDATION
Vancouver, B.C., November 6, 2015 – Adroit Resources Inc. (the “Company”) (TSXV: ADT) announces that it has received TSX Venture Exchange approval to a name change and consolidation of its issued and outstanding share capital on the basis of one new common share for ten old common shares. All fractional shares resulting from the consolidation will be rounded up or down to the nearest whole number.
As a result, the outstanding common shares of the Company will be reduced to approximately 19,497,451, subject to adjustment for fractional shares.
The Company’s shares will commence trading under the new name “iMetal Resources Inc.” on a post-consolidated basis effective Monday, November 9, 2015 under the new trading symbol “IMR”.
The Company also announces its intention to settle an aggregate of $305,420 of debt by way of (i) cash payment of $14,250, and (ii) issuance of 5,823,392 post-consolidated shares at a deemed price of $0.05 per share for aggregate amount of $291,170 (“Debt Settlement”). Any implementation of the proposed Debt Settlement will be subject to TSX Venture Exchange approval.
ON BEHALF OF THE BOARD:
“Johan Grandin”
Johan Grandin
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 news release.
{00397352;1} 510 – 580 Hornby Street, Vancouver, B.C., V6C 3B6 (604)-739-9713