In This Article:
Vancouver, BC, April 17, 2025 (GLOBE NEWSWIRE) -- Eros Resources Corp. (TSXV: ROCK) (OTCQB: EROSF) (“Eros” or the “Company”) announces the official consolidation of its common shares on the basis of a ten (10) pre-consolidation shares for one (1) new post-consolidation share (the “Consolidation”) and a change of name to Trident Resources Corp. on April 22, 2025 (the “Effective Date”) as approved by the TSX Venture Exchange (the “Exchange”).
Post-consolidated capitalization: Approximately 27,374,042 common shares and 2,352,000 preferred shares (not affected by the Consolidation).
No fractional Shares were issued as a result of the Consolidation. Instead, any fractional share interest of 0.5 or higher arising from the Consolidation will be rounded up to one whole common share, and any fractional share interest of less than 0.5 will be cancelled. As applicable, the exercise or conversion price and the number of shares issuable under any of the Company's outstanding stock options, warrants and any other convertible instruments will be proportionately adjusted.
Effective at the opening of trading on the Effective Date, the Company’s pre-consolidated common shares will be delisted from the Exchange and the post-consolidated common shares will commence trading. The Company’s trading symbol shall remain the same (ROCK) and the new CUSIP and ISIN are 895980100 and CA8959801009, respectively.
A letter of transmittal will be sent to registered shareholders providing instructions to surrender their pre-consolidated share certificates (the “Share Certificates”) or Director Registration (“DRS”) evidencing their shares for replacement Share Certificates or DRS representing the number of post-consolidated shares to which they are entitled as a result of the Consolidation. Until surrendered, each Share Certificate or DRS representing shares prior to the Consolidation will be deemed, for all purposes, to represent the number of shares to which the holder thereof is entitled as a result of the Consolidation.
The company's board of directors believes that the Consolidation is necessary to strengthen the overall position of the Company to avail new corporate development opportunities, a new corporate vision, and financing transactions.
About Eros Resources Corp.
Eros Resources Corp. is a Canadian public mineral exploration company listed on the TSX Venture focused on the acquisition, exploration and development of mineral properties in Canada. The Company is advancing its gold and copper projects in Saskatchewan, including two gold properties in the prospective La Ronge Gold Belt totaling 35,175.6 hectares (86,920.8 acres), as well as the 100% owned Knife Lake copper project.