OAKVILLE, ON, Aug. 15,
2024 /PRNewswire/ - Nickel Creek Platinum Corp. (TSX:
NCP) (OTCQB: NCPCF) ("Nickel Creek" or the "Company") announces
today that it received approval from the Toronto Stock Exchange
(the "TSX") and that its Board of Directors has approved
implementation of the consolidation of the issued and outstanding
common shares of the Company approved by its shareholders at the
annual general and special meeting (the "AGM") held on June 25, 2024, on the basis of one (1) new common
share (a "Post-Consolidation Common Share") for every 100
pre-consolidation outstanding common shares (the "Consolidation"),
which will become effective on August 19,
2024 (the "Effective Date"). The Company's name and trading
symbols will remain unchanged.
Further information on the Consolidation can be found in the
management information circular dated May 8,
2024 available under the Company's profile on SEDAR+ at
www.sedarplus.ca.
As a result of the Consolidation, the number of outstanding
common shares ("Common Shares") of the Company will be reduced from
508,461,951 Common Shares to approximately 5,084,617
Post-Consolidation Common Shares, subject to adjustment for
rounding. If a shareholder would otherwise be entitled to receive a
fractional Common Share as a result of the Consolidation, (i) in
the event that a fractional Common Share issuable to such
shareholder is equal to or greater than 0.5 of a Common Share, the
number of Post-Consolidation Common Shares issuable to such
shareholder shall be rounded up to the nearest whole Common Share
and (ii) in the event that a fractional Common Share issuable to
such shareholder is less than 0.5 of a Common Share, the number of
Post-Consolidation Common Shares issuable to such shareholder shall
be rounded down to the nearest whole Common Share and the
fractional Common Share shall be cancelled without payment of
consideration. No fractional Common Shares will be issued in
connection with the Consolidation.
Computershare Investor Services Inc. ("Computershare"), the
Company's transfer agent, will act as exchange agent for the
Consolidation. Registered shareholders of the Company whose Common
Shares are represented by share certificates will receive a letter
of transmittal from Computershare in respect of the Consolidation
and each such registered shareholder will be required to complete,
sign and return it to Computershare. The letter of transmittal will
contain instructions on how to surrender the certificates
representing the registered shareholder's Common Shares. If a
registered shareholder does not receive a letter of transmittal in
respect of its Common Shares, sample letters of transmittal will be
available under the Company's profile on SEDAR+ at
www.sedarplus.ca. Registered shareholders who hold their Common
Shares through DRS statements are not required to complete a letter
of transmittal.
Non-registered shareholders (i.e., beneficial shareholders) who
hold their Common Shares through an intermediary (i.e., a
securities dealer, bank or financial institution) should note that
the intermediary may have different procedures for processing the
Consolidation from those that will be put in place by the Company
for registered shareholders. Shareholders who hold their Common
Shares through an intermediary who have questions in this regard
should contact their intermediary for more information.
On the Effective Date, the Company's new CUSIP number for its
Post-Consolidation Shares will be 65389F407 and the new ISIN will
be CA65389F4078.
The exercise price and number of Post-Consolidation Shares of
the Company issuable upon the exercise of outstanding securities
convertible into Post-Consolidation Shares will be proportionally
adjusted upon the Effective Date of the Consolidation in accordance
with the terms thereof.
About Nickel Creek Platinum Corp.
Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a
Canadian mining exploration and development company and its
flagship asset is its 100%-owned Nickel Shäw Project. The Nickel
Shäw Project is a large undeveloped nickel sulphide project with a
unique mix of metals including copper, cobalt and platinum group
metals, located in the Yukon,
Canada, one of the most favourable jurisdictions in the
world. The Nickel Shäw Project has exceptional access to
infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers
year-round access to deep-sea shipping ports in southern
Alaska.
The Company is led by a management team with a proven track
record of successful discovery, development, financing and
operation of large-scale projects. Our vision is to create value
for our shareholders by becoming a leading North American nickel,
copper, cobalt and PGM producer.
Cautionary Note Regarding Forward-Looking Information
This news release includes certain information that may be
deemed "forward-looking information". Forward-looking information
can generally be identified by the use of forward-looking
terminology such as "may", "will", "expect", "intend", "believe",
"continue", "plans" or similar terminology, or negative
connotations thereof. All information in this news release, other
than information of historical facts, including, without
limitation, statements with respect to general future plans
including the proposed Consolidation, the proposed consolidation
ratio and the anticipated Effective Date, are forward-looking
information that involve various risks and uncertainties. Although
the Company believes that the expectations expressed in such
forward-looking information are based on reasonable assumptions,
such expectations are not guarantees of future performance and
actual results or developments may differ materially from those in
the forward-looking information.
For more information on the Company and the key assumptions,
risks and challenges with respect to the forward-looking
information discussed herein, and about our business in general,
investors should review the Company's most recently filed annual
information form, and other continuous disclosure filings which are
available at www.sedarplus.ca. Readers are cautioned not to place
undue reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
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SOURCE Nickel Creek Platinum Corp.