Scottie Resources Announces Effective Date of Consolidation
SCOTTIE RESOURCES ANNOUNCES EFFECTIVE DATE
OF CONSOLIDATION
VANCOUVER, BC
,
Nov. 28, 2024
/CNW/ - Scottie Resources Corp. ("
Scottie
" or the "
Company
") (TSXV: SCOT)
(OTCQB: SCTSF) (FSE:SR8) is pleased to announce that the previously announced consolidation of the Company's
issued and outstanding common shares at a ratio of six pre-consolidation shares to one post-consolidation share (the
"
Consolidation
") will become effective at the market opening on December
3, 2024.
Immediately prior to the Consolidation, the Company had 299,819,618 common shares issued and outstanding. Upon
completion of the Consolidation, the Company will have approximately 49,970,000 common shares issued and
outstanding. Fractional shares of 0.5 or greater will be rounded up to the nearest whole number of common shares and
fractional shares of less than 0.5 will be rounded down to the nearest whole number of Shares. Some slight variance is
expected due to fractional rounding. As is customary, to reflect the Consolidation, all outstanding warrants and incentive
stock options will be adjusted to increase their exercise price by a factor of six and to reduce the number of common
shares issued upon exercise by dividing by six.
ABOUT SCOTTIE RESOURCES CORP.
Scottie owns a 100% interest in the Scottie Gold Mine Property which includes the Blueberry Contact Zone and the high-
grade, past-producing
Scottie Gold Mine
. Scottie also owns 100% interest in the Georgia Project which contains the
high-grade past-producing
Georgia River Mine
, as well as the Cambria Project properties and the Sulu and Tide North
properties. Altogether Scottie Resources holds approximately 58,500 hectares of mineral claims in the Stewart Mining
Camp in the Golden Triangle.
The Company's focus is on expanding the known mineralization around the past-producing mines while advancing near
mine high-grade gold targets, with the purpose of delivering a potential resource.
All of the Company's properties are located in the area known as the Golden Triangle of
British Columbia
which is among
the world's most prolific mineralized districts.
Forward Looking Statements
This news release may contain forward–looking statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur. 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 forward looking statements. Forward–looking statements are based on the
beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company
expressly disclaims any intention or obligation to update or revise any forward–looking statements whether as a result of
new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of
TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this release.
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SOURCE
Scottie Resources Corp.
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%SEDAR: 00031828E
For further information:
Additional Information: Brad Rourke, President and CEO, +1 250 877 9902,
[email protected]; Gordon Robb, Business Development / IR, +1 250 217 2321,
CO: Scottie Resources Corp.
CNW 21:09e 28-NOV-24