VANCOUVER, BC, Jan. 13,
2025 /CNW/ - Silver Viper Minerals
Corp. ("Silver Viper" or the
"Company") (TSXV: VIPR) (OTC: VIPRF) announces that,
following approval by its board of directors, the Company will
consolidate its issued and outstanding common shares ("Common
Shares") at a ratio of ten (10) pre‑consolidation Common Shares
to one (1) post-consolidation Common Share
("Consolidation"). The Common Shares will commence trading
on a post-Consolidation basis at the start of trading on
January 15, 2025.
No fractional Common Shares will be issued as a result of the
Consolidation. The holdings of any shareholder who would otherwise
be entitled to receive a fractional Common Share as a result of the
Consolidation shall be rounded up to the next higher whole number
if the fraction is 0.5 or greater and rounded down to the next
lower whole number if the fraction is less than 0.5.
Letters of transmittal have been mailed to all registered
shareholders of the Company with instructions on how to exchange
existing share certificates for new share certificates or DRS
statements.
Registered shareholders who hold their Common Shares via DRS are
not required to complete a letter of transmittal. A sample letter
of transmittal is also available on the Company's profile page on
SEDAR+, if a registered shareholder does not receive a letter of
transmittal in respect of its Common Shares represented by share
certificates.
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.
Prior to implementing the Consolidation, the Company had
194,771,623 Common Shares issued and outstanding and immediately
after implementing the Consolidation, the Company expects to have
19,477,163 Common Shares issued and outstanding (subject to final
immaterial rounding).
The Company's new CUSIP number is 828334409 and its new ISIN
number is CA8283344098.
The Company's outstanding warrants and options will be adjusted
on the same basis as the Consolidation with respect to the
underlying Common Shares exercisable pursuant to the warrants and
options with proportionate adjustments being made to exercise
prices, as applicable.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral
exploration company focused on precious metals exploration in the
northwestern Mexican state of
Sonora. The Company is operator and 100% owner of the La
Virginia Gold-Silver Project and recently acquired 100% interest in
the Rubi-Esperanza group of claims internal to those concessions.
Silver Viper is under management provided by the Belcarra Group,
which is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope
President and CEO
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Forward Looking Information
Information set forth in this press release contains
forward-looking statements. These statements reflect management's
current estimates, beliefs, intentions and expectations; they are
not guarantees of future performance. The Company cautions that all
forward-looking statements are inherently uncertain, and that
actual performance may be affected by a number of material factors,
many of which are beyond the Company's control. Such factors
include, among other things: risks and uncertainties relating to
exploration and development, the ability of the Company to obtain
additional financing, the need to comply with environmental and
governmental regulations, fluctuations in the prices of
commodities, operating hazards and risks, competition and other
risks and uncertainties, including those described in the Company's
financial statements available on www.sedarplus.ca. Accordingly,
actual and future events, conditions and results may differ
materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. Except as
required under applicable securities legislation, the Company
undertakes no obligation to publicly update or revise
forward-looking information.
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.
SOURCE Silver Viper Minerals Corp.
