VANCOUVER, BC, April 17,
2024 /CNW/ - Vega Mining Inc. (the
"Company") announces that the previously announced
consolidation of the Company's outstanding common shares on the
basis of two (2) pre-consolidation shares for one (1)
post-consolidation share (the "Consolidation") has become
effective on April 16, 2024 (the
"Effective Date").
As a result of the Consolidation, the number of issued and
outstanding common shares of the Company has been reduced from
45,039,055 to approximately 22,519,528, subject to adjustment for
rounding (the "Post-Consolidation Shares"). No fractional
shares will be issued in connection with the Consolidation. If a
holder of Shares would otherwise be entitled to a fractional share,
any fractional Post-Consolidation Share that is less than ½ of a
share shall be cancelled and any fractional Post-Consolidation
Share that is at least ½ of a share shall be rounded up to one
whole share. No cash consideration will be paid in respect of
fractional shares. The exercise or conversion price and/or the
number of Post-Consolidation Shares issuable under any of the
Company's outstanding convertible securities will be
proportionately adjusted in connection with the Consolidation.
The new CUSIP number for the Company's Post-Consolidation Shares
is 922509302 and the new ISIN is CA9225093025.
Registered shareholders of record as of the Effective Date will
receive a letter of transmittal from Odyssey Trust Company, the
transfer agent for the Company, describing the process by which
shareholders may obtain new share certificates or Direct
Registration System (DRS) advices representing their
Post-Consolidation Shares. Until surrendered, each share
certificate representing pre-consolidation shares will represent
the number of whole Post-Consolidation Shares to which the holder
is entitled as a result of the Consolidation. Shareholders who hold
their shares through a broker or other intermediary and do not have
shares registered in their name will not be required to complete a
letter of transmittal. The letter of transmittal will also be filed
under the Company's profile on SEDAR+ at www.sedarplus.ca.
ON BEHALF OF THE BOARD
Vega Mining Inc.
Alicia
Krywaniuk, Director
This news release may contain certain "Forward-Looking
Statements" within the meaning of applicable securities laws. When
or if used in this news release, the words "anticipate", "believe",
"estimate", "expect", "target, "plan", "forecast", "may",
"schedule" and similar words or expressions identify
forward-looking statements or information. These
forward-looking statements or information may relate to the
intended use of proceeds from the Offering and other factors or
information. Such statements represent the Company's current
views with respect to future events and are necessarily based upon
a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant
business, economic, competitive, political and social risks,
contingencies and uncertainties. Many factors, both known and
unknown, could cause results, performance or achievements to be
materially different from the results, performance or achievements
that are or may be expressed or implied by such forward-looking
statements. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements or
information to reflect changes in assumptions or changes in
circumstances or any other events affecting such statements and
information other than as required by applicable laws, rules and
regulations.
SOURCE Vega Mining Inc.