Cross River Announces Proposed Name Change and Consolidation
Cross River Announces Proposed Name
Change and Consolidation
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2026) - Cross River Ventures Corp. (CSE:
CRVC.X) (the "
Company
" or "
Cross River
") is pleased to announce that, in connection with the
Company's previously announced proposed business combination with Scotia Lithium Corp. (the
"
Transaction
"), the Company intends to change its name from "Cross River Ventures Corp." to "Scotia
Metals Corp." (the "
Name Change
") and to consolidate its common shares (the "
Common Shares
")
on a thirty (30) to one (1) basis (the "
Consolidation
") with a proposed record date of July 24, 2026. The
Company currently has 288,020,201 Common Shares issued and outstanding. Following the proposed
Consolidation, the Company will have approximately 9,600,673 Common Shares issued and
outstanding prior to rounding for fractional shares. Following the Transaction, the Company is expected
to trade on the CSE under the symbol "SMET".
The Consolidation and Name Change were approved by the board of directors of the Company, and the
Consolidation was approved by shareholders of the Company at the annual general meeting held on
March 24, 2026, but the Consolidation and Name Change remain subject to the acceptance of the
Canadian Securities Exchange (the "
CSE
").
On behalf of the Board of Directors of CROSS RIVER VENTURES CORP.
Sam Wong
CEO
Email:
Tel: 778-726-3356
Forward-Looking Statements
Certain statements in this press release that are not historical facts constitute forward-looking
information based on assumptions currently believed to be valid. The words "anticipate," "believe,"
"ensure," "expect," "if," "intend," "estimate," "probable," "project," "forecasts," "predict," "outlook," "aim,"
"will," "could," "should," "would," "potential," "may," "might," "likely," "plan," "positioned," "strategy," and
similar expressions or other words of similar meaning, and the negatives thereof, are intended to identify
forward-looking information. Specific forward-looking information include, but are not limited to,
statements regarding the Company's plans and expectations with respect to the Consolidation, Name
Change and proposed Transaction; and other statements that are not historical facts.
These forward-looking statements involve significant risks and uncertainties that could cause actual
results to differ materially from those anticipated, including, but not limited to: the risk that any other
condition to closing of the Transaction may not be satisfied; the risk that the closing of the Transaction
might be delayed or not occur at all; the risk that the Transaction could be terminated by the parties in
certain circumstances; potential adverse reactions or changes to business or employee relationships of
the Company, including those resulting from the announcement or completion of the Transaction; the
diversion of management time on Transaction-related issues; the ultimate timing, outcome and results of
integrating the operations of the Company and Scotia Lithium; the effects of the business combination of
the Company and Scotia Lithium, including the combined company's future financial condition, results of
operations, strategy and plans; the ability of the combined company to realize anticipated synergies in
the timeframe expected or at all; changes in capital markets and the ability of the combined company to
finance operations in the manner expected; the risk that the Company or may not receive the required
stock exchange and regulatory approvals for the Transaction; the expected re-listing of the common
shares of the Company on the Exchange; the risk of any litigation relating to the proposed Transaction;
the risk of changes in governmental regulations or enforcement practices; the effects of commodity
prices; the risks of mining activities; and that operating costs and business disruption may be greater
than expected following the public announcement or consummation of the Transaction. Expectations
regarding business outlook, including changes in capital expenditures, cash flow generation, strategies
for the combined company's operations, market conditions, legal, economic and regulatory conditions,
and environmental matters are only forecasts regarding these matters, and are subject to risks,
uncertainties and assumptions that may prove incorrect. Additional factors that could cause actual
results to differ materially from those described above can be found in the Company's most recent
management's discussion and analysis, which is available under the Company's SEDAR+ profile at
www.sedarplus.ca
.
All forward-looking statements speak only as of the date they are made and are based on information
available at that time. The Company does not assume any obligation to update forward-looking
statements to reflect circumstances or events that occur after the date the forward-looking statements
were made or to reflect the occurrence of unanticipated events except as required by applicable
securities laws. As forward-looking statements involve significant risks and uncertainties, caution should
be exercised against placing undue reliance on such statements.
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/305908