In This Article:
TORONTO, Jan. 17, 2025 /CNW/ - Silver Mountain Resources Inc. ("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF) announces that it will hold a special meeting of shareholders (the "Special Meeting") on March 6, 2025. The Company has set a record date for the Special Meeting of January 31, 2025.
The purpose of the Special Meeting is to seek authorization from the Company's shareholders to enable the Board of Directors (the "Board") to consider a consolidation of all of the Company's issued and outstanding common shares ("Common Shares") at a ratio of one (1) post‐consolidation share for up to every one hundred (100) pre‐consolidation shares (the "Consolidation"). Shareholders will be requested at the Special Meeting or any adjournment thereof, to consider and, if thought fit, pass, with or without amendment, a special resolution approving the Consolidation. Additional details in respect of any proposed Consolidation will be included in a management information circular which is being mailed to shareholders in compliance with applicable laws and will be available under the Company's profile on SEDAR+ (www.sedarplus.ca).
The Board believes it is in the best interests of the Company to be in a position to complete the Consolidation to provide the Company with greater flexibility for future corporate activities, enhance the marketability of the Common Shares as an investment and lead to increased interest by a broader spectrum of potential investors, thereby increasing the Company's ability to secure additional financing for operational and growth initiatives.
The implementation of any Consolidation is subject to Silver Mountain receiving all required approvals, including support from shareholders at the upcoming Special Meeting, and the approval of the TSX Venture Exchange. If the approvals required for the Consolidation are obtained and the Board decides to implement the Consolidation, the Consolidation will occur at a time determined by the Board and additional information in respect of the Consolidation will be announced by the Company.
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.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, "forward-looking statements") that relate to Silver Mountain's current expectations and views of future events. Any statements that express or involve discussions as to expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as "will likely result," "are expected to, "expects", "will continue," "is anticipated," "anticipates," "believes," "estimated," "intends," "plans," "forecast," "projection," "strategy," "objective" and "outlook") are not historical facts and may be forward-looking statements and may involve estimates, assumptions, and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements in respect of the implementation of any Consolidation and the receipt of all required approvals in connection therewith. No assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.