Aranjin Resources to Seek Shareholder Approval for Share Consolidation
Aranjin Resources to Seek Shareholder
Approval for Share Consolidation
Ulaanbaatar, Mongolia--(Newsfile Corp. - May 21, 2024) - Aranjin Resources Ltd. (TSXV: ARJN) (the
"Company" or "Aranjin Resources") announces that it intends to seek approval from its shareholders at
the Company's upcoming annual general and special shareholder meeting for the proposed
consolidation all of the issued and outstanding Common Shares of the Company on the basis of up to 40
pre-consolidation Common Shares for each 1 post-consolidation Common Share (the "Consolidation").
The annual general and special meeting of Shareholders (the "Meeting") will take place at 10:00 am
(ULAT) on June 13, 2024 at the Shangri-La Hotel, Olympic Street 19A, Sukhbaatar District-1,
Ulaanbaatar 14241, Mongolia.
The board of directors of the Company has concluded that the Consolidation would be in the best
interests of the Company as it is required in connection with the Company's proposed listing on the
Australian Stock Exchange and may improve the Company's options in obtaining additional financing.
Under the Consolidation, for every forty (40) Common Shares currently held by a shareholder (or such
lesser number as may be applicable in the event that directors determine to employ a Consolidation
ratio that is less than on a forty to one (40:1) basis), each shareholder will, as a result of the
Consolidation, receive one Common Share after the Consolidation takes effect. There are currently
442,593,444 Common Shares issued and outstanding. If the Consolidation is approved and the
directors effect the Consolidation on a 40:1 basis, there will be an aggregate of 11,064,836 Common
Shares issued and outstanding in the share capital of the Company, subject to rounding.
Notwithstanding the foregoing, the board may determine not to implement the Consolidation at any time
after the Meeting and after receipt of necessary regulatory approvals, but prior to effecting the required
amendment to the Company's articles, without further action on the part of the shareholders.
The
Consolidation remains subject to approval by the TSX Venture Exchange.
The materials for the Meeting, including the Management Information Circular, which sets out in detail the
annual and special items proposed for shareholder approval at the Meeting, have been distributed to
shareholders and can also be found at the Company's profile on
www.sedarplus.ca
or at the Company's
website
https://aranjinresources.com/investors/agsm
.
On behalf of the Board
Matthew Wood
Chairman
Aranjin Resources Ltd.
+976 7732 1914
NEITHER 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.
Cautionary Statements
Certain information contained herein constitutes forward-looking information or statements under
applicable securities legislation and rules. Such statements include, but are not limited to, statements
with respect to the Australian Transaction, any approval thereof by the TSXV or by shareholders of the
Company, and any intended exploratory work or exploration targets of the Company on the Australian
Projects. Forward-looking statements are based on the opinions and estimates of management as of
the date such statements are made and are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or achievements of Aranjin to be
materially different from those expressed or implied by such forward-looking statements, including, but
not limited to: (i) any inability of Aranjin to satisfy conditions imposed by the TSXV on the Consolidation
or to obtain TSXV approval for the Consolidation for any other reason; (ii) any inability of Aranjin to
obtain shareholder approval of for the Consolidation; and (iii) any change in the circumstances of the
Company, whether internal or external, whether affecting the Company particularly, or the general mineral
and/or general global markets, which could cause the Company to reconsider and adjust or abandon the
Consolidation. Although management of Aranjin has attempted to identify important factors that could
cause actual results to differ materially from those contained in forward-looking statements, there may be
other factors that cause results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate. Accordingly, readers should not place undue
reliance on forward-looking statements. Neither party will update any forward-looking statements or
forward-looking information that are incorporated by reference herein, except as required by applicable
securities laws. The parties caution readers not to place undue reliance on these forward-looking
statements and it does not undertake any obligation to revise and disseminate forward-looking
statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-
occurrence of any events.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/209931