Brascan Resources Inc. Announces Effective Date Of Consolidation And Name Change
18.09.2023 | vom Unternehmen
Vancouver, Sept. 18, 2023 – Brascan Resources Inc. (CSE:BRAS) (the “Company” or “Brascan”) announces that further to its news release dated September 11, 2023, the Company will consolidate its issued and outstanding common shares (“Shares”) at a ratio of ten (10) pre-consolidated Shares to one (1) post-consolidation Share (the “Consolidation”). In connection with the Consolidation, the Company’s name will be changed to “Nordique Resources Inc.” and the symbol under which the Company’s Shares trade will change to “NORD” (the “New Name and Symbol”). Effective at the open of markets on or about September 21, 2023 (the “Effective Date”), the Shares of the Company will trade on a post-Consolidation basis under the New Name and Symbol and the new CUSIP: 65564N100 (ISIN: CA65564N1006). The Company currently has 50,086,310 Shares issued and outstanding. Following the Consolidation, there will be approximately 5,008,631 Shares issued and outstanding. No fractional Shares will be issued, and any fractions of a Share will be rounded to the nearest whole number of Shares. The exercise or conversion price and the number of Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon Consolidation.
Registered shareholders of the Company who hold Shares represented by a physical certificate or DRS Advice will receive a letter of transmittal from the transfer agent for the Company, Odyssey Trust Corporation, with instructions on how to exchange their existing certificate or DRS Advice for a post-Consolidation certificate or DRS Advice.
About the Company
Brascan (CSE: BRAS) is a Lithium and Gold exploration issuer based in Vancouver, B.C. BRAS owns a 100% interest in the Quebec-Li properties in northern Quebec and a 100% interest in the Albany Forks Rare Earth Elements (REE) property in northern Ontario.
For more information, investors should review the Company’s filings that are available at www.sedarplus.com.
Contact Information
Brascan Resources Inc.
Jo Shearer, Director and acting CEO
Telephone: 236-521-0626
Email: investors@brascanresources.com
Forward-Looking Statements
This news release contains certain forward-looking statements that are “forward looking information” within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements respecting the Consolidation and the Name and Symbol Change are “forward-looking information”. These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.