Inspiration Energy Corp. Announces Effective Date for Share Consolidation
Vancouver, June 27, 2024 - Inspiration Energy Corp. (the "Company" or "Inspiration") (CSE: ISP) announces further to a news release dated June 17, 2024, the Company has received Canadian Securities Exchange (CSE) approval for the consolidation of its shares on the basis of a one (1) post-consolidated share for each five (5) pre-consolidated shares (the "Consolidation") The Consolidation was approved by a directors' resolution dated June 17, 2024. The name of the Company and trading symbol (ISP) will remain the same after the Consolidation. The Company's CUSIP number has been changed to 457702207 and its new ISIN number will be CA4577022078.
Effective at the opening on June 28, 2024, the common shares of the Company will commence trading on the CSE on a consolidated basis. Following Consolidation, the Company will have 9,622,729 common shares issued and outstanding and 15,358,212 on a fully diluted basis.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company's stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
A transmittal process to receive new share certificates / DRS advices through the Company's transfer agent, Endeavor Trust Corporation will be facilitated. Shareholders holding their Inspiration shares through a broker will be adjusted automatically.
Correction to June 17, 2024 News Release
In its June 17, 2024 news release, the Company inadvertently identified the consolidation ratio as "ten (5) to one (1)" in one part of the news release and would like to confirm that the correct ratio is five (5) to one (1).
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Canada. Its objective is to locate and develop properties of merit and to conduct exploration on the Company's properties. For more information, please refer to the Company's information available on SEDAR+ (www.sedarplus.ca).
On Behalf of the Board of Directors
Charles Desjardins
CEO, President and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward-looking statements are neither promises nor guarantees and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca).
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