In This Article:
Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - S2 Minerals Inc. (CSE: STWO) ("S2" or the "Company") announces that, further to its press release dated November 28, 2024, it has completed the proposed consolidation of the Company's issued and outstanding common shares ("Common Shares") on the basis of one post-consolidation Common Share for every two pre-consolidation Common Shares (the "Consolidation"). As a result of the Consolidation, the number of issued and outstanding Common Shares will be reduced from 37,937,649 to approximately 18,968,824, subject to adjustment for rounding.
The Common Shares will continue to trade on the Canadian Securities Exchange under the symbol "STWO" under a new CUSIP number - 78485F205 and on a post-consolidated basis. A letter of transmittal with respect to the Consolidation was mailed to registered shareholders of the Company, a copy of which is also available on the Company's SEDAR+ profile at www.sedarplus.ca. Until surrendered, a share certificate representing pre-Consolidation Common Shares will represent the number of whole post-Consolidation Common Shares to which the holder of such certificate is entitled to receive as a result of the Consolidation.
About S2 Minerals Inc.
S2 Minerals Inc. is a Canadian mineral exploration company focused on exploring mineral properties in Northwest Ontario, including the Sandy Lake project.
The Sandy Lake project comprises approximately 167,000 acres of contiguous mineral claims in the Sandy Lake Archean Greenstone Belt, located approximately 140 miles north of Red Lake, Ontario. S2 beneficially holds a 100% interest in the mineral rights to approximately 137,000 acres, and holds a 50.1% interest in the approximately 15,000 acres of the "Weebigee Joint Venture" claims and a 50% interest in a further 15,000 acres of the Southern Block claims in joint ventures with Goldeye Explorations Limited, now part of NexGold Mining Corp.
The Sandy Lake project is held within the traditional territories of Sandy Lake First Nation and Keewaywin First Nation. S2 also holds additional mineral claims which are located within Eabametoong First Nation traditional lands.
It is expected that over time, S2 may add new Canadian-focused exploration stage projects to its portfolio.
For further information please contact:
Dan Noone
CEO
+1.416.628.5904
Email: info@s2minerals.com
Forward-Looking Information
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance and include statements regarding the effect of the Consolidation on the Company's capital structure, including the number of Common Shares outstanding after the Consolidation. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.