VANCOUVER, BC, Nov. 19, 2024 /CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE: B04Q) ("SKRR" or the "Company") announces a consolidation of its common shares (the "Consolidation") on the basis of one (1) post-Consolidation common share for every four (4) pre-Consolidation common shares. As of the date of this news release, the Company has 19,375,371 common shares issued and outstanding and the Company expects that it will have approximately 4,843,842 common shares issued and outstanding on a post-Consolidation basis. The number of post-consolidated common shares to be received will be rounded up to the nearest whole number for fractions of 0.5 or greater or rounded down to the nearest whole number for fractions of less than 0.5, and each shareholder will hold the same percentage of common shares outstanding as such shareholder held immediately prior to the Consolidation. The exercise price and number of the common shares, issuable upon the exercise of outstanding options and warrants, will be proportionally adjusted upon the implementation of the proposed Consolidation in accordance with the terms thereof.
Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Consolidation was approved by way of resolution passed by the board of directors of the Company.
The Consolidation is subject to TSX Venture Exchange (the "Exchange") approval. The Company anticipates that the consolidated shares will commence trading on a post-Consolidated basis on a date to be determined in consultation with the Exchange, which date will be announced in a subsequent news release once confirmed. The Company's name and trading symbol will remain unchanged. The Company will issue a future news release announcing the effective date of the Consolidation and its new CUSIP and ISIN numbers.
About SKRR Exploration Inc.
SKRR is a Canadian-based precious and base metal explorer with properties in Saskatchewan – some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the Trans-Hudson Corridor in Saskatchewan in search of world class uranium, precious, and base metal deposits. The Trans-Hudson Orogen – although extremely well known in geological terms has been significantly under-explored in Saskatchewan. SKRR is committed to all stakeholders including shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl President & CEO Tel: 250-558-8340
Neither the 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 Information
This news release contains "forward–looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to the proposed Consolidation and the approval of the Exchange, statements relating to the technical, financial and business prospects of the Company, its projects, its goals and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, the ability to secure equipment and personnel to carry out work programs, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ at www.sedarplus.ca. There is a possibility that future exploration, development or mining results will not be consistent with the Company's expectations. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, failure to obtain or maintain all necessary government permits, approvals and authorizations, decrease in the price of gold, copper, uranium and other metals, failure to obtain or maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.
