Kenadyr Mining (Holdings) Corp. Announces Share Consolidation and Name Change
VANCOUVER, July 22, 2021 - Kenadyr Mining (Holdings) Corp. (TSXV:KEN) (the "Company") or "Kenadyr") is pleased to announce that it intends to consolidate its common shares on a ten (10) for one (1) basis (the "Share Consolidation") and to change its name from "Kenadyr Mining (Holdings) Corp." to "Kenadyr Metals Corp." (the "Name Change"). The Company currently has 118,039,546 common shares issued and outstanding. Following the Share Consolidation, the Company will have approximately 11,803,955 common shares issued and outstanding prior to rounding for fractional shares. Completion of the Share Consolidation and Name Change are subject to approval by the TSX Venture Exchange (the "TSXV"). Upon completion of the Share Consolidation and Name Change, a letter of transmittal will be sent by mail to registered shareholders advising that the Share Consolidation and Name Change have taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or DRS statements evidencing their pre-consolidated common shares for new share certificates or new DRS statements representing the number of post-consolidated common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Share Consolidation and Name Change.
The Company's common shares are expected to begin trading on the TSXV on a post-Share Consolidation basis after the TSXV issues its final bulletin advising of the effective date.
The Share Consolidation and Name Change was approved by the board of directors of the Company.
About Kenadyr
Kenadyr is currently listed on the TSX Ventures Exchange and its primary business is mineral exploration in the Kyrgyz Republic, specifically gold exploration in Borubai. Kenadyr holds all issued and outstanding securities in PIC Ala-Too, a Kyrgyz Republic company registered in Bishkek, which is the 100% legal and beneficial holder of an exploration license related to Kenadyr's Borubai Project.
ON BEHALF OF Kenadyr Mining (Holdings) Corp.
Tim McCutcheon
Chief Executive Officer
For more information, visit www.kenadyr.com or contact Tim McCutcheon, CEO at info@kenadyr.com or (604) 638 3311.
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.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the completion of the Share Consolidation and the Name Change, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations including the risks detailed from time to time in the filings made by the Corporation with securities regulations. The reader is cautioned not to place undue reliance on any forward-looking information. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Corporation will update or revise publicly any of the included forward-looking statements as expressly required by Canadian securities law.