Elcora Advanced Materials Corp. Announces Share Consolidation
Elcora Advanced Materials Corp. (TSX.V:ERA | Frankfurt:ELM | OTCQB - ECORF), (the "Company" or "Elcora"), is pleased to announce that further to its news release dated January 21, 2025, it has received TSX Venture Exchange ("TSX-V") approval to proceed with the consolidation of the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) post-consolidation share for every ten (10) pre-consolidation shares (the "Share Consolidation"). The Company's Common Shares will continue to trade on the TSX-V under its current symbol "ERA" and name "Elcora Advanced Materials Corp.". The effective date and trading of the Common Shares on a post-Share Consolidation basis on the TSX-V is expected to be on or about February 7, 2025 (the "Record Date"). The new CUSIP and ISIN numbers assigned to the Common Shares following the Share Consolidation will be 284445202 and CA2844452029, respectively.
Following the Share Consolidation, the number of issued and outstanding Common Shares will be reduced from 170,377,013 pre-Consolidation Shares to approximately 17,037,701 post-Consolidation Shares. No fractional shares will be issued as a result of the proposed Share Consolidation. All fractions of Common Shares will be rounded down to the next lowest whole number. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted upon the Share Consolidation.
Shareholders of record as at the Record Date will receive a letter of transmittal providing instructions for the exchange of existing share certificate(s) evidencing pre-consolidation Shares for new share certificate(s) representing the number of post-consolidation Common Shares to which they are entitled, as soon as practicable following Record Date. A copy of the letter transmittal will also be available on the Company's SEDAR+ profile at www.sedarplus.ca. Shareholders who hold their Common Shares in brokerage accounts are not required to take action to effect an exchange of their pre-Consolidation Shares for post-Consolidation Shares.
About Elcora Advanced Materials Corp.
Elcora was founded in 2011 and has been structured to become a vertically integrated battery material company. Elcora can process, refine, and produce battery related minerals and metals. As part of the vertical integration strategy Elcora has developed a cost-effective process to purify high-quality battery metals and minerals that are commercially scalable. This combination means that Elcora has the tools and resources for vertical integration of the battery minerals and metals industry.
For further information please visit the company's website at:
http://www.elcoracorp.com
For further information please contact: Troy Grant, Director, President & CEO, Elcora Advanced Materials Corp., T: +1 902 802-8847
CAUTIONARY STATEMENT:
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock Exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Elcora, are forward-looking statements that involve various 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 Elcora's expectations are exploration risks detailed herein and from time to time in the filings made by Elcora with securities regulators.
Investors are cautioned that, except as disclosed in the filing statement prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon.