Recharge Resources Ltd. announces that further to the Company’s news release dated August 2, 2023, the Company will consolidate its common shares (the “Shares“) on the basis of two (2) pre-consolidation Shares for one (1) post-consolidation Share of the Company (the “Consolidation“).
Effective at the opening on Friday, August 18, 2023, the Shares of the Company will commence trading on the Canadian Securities Exchange on a Consolidation basis. The name of the Company and trading symbol will remain the same after the Consolidation. The new CUSIP number will be 756230306 and the new ISIN number will be CA7562303064 for post Consolidation.
The Consolidation will result in the number of issued and outstanding Shares being reduced from 69,846,948 to 34,923,474 Shares. No fractional Shares will be issued pursuant to the Consolidation. Each fractional Share remaining after the Consolidation that is less than 0.5 of one Share will be rounded down to the next whole number and each fractional Share that is 0.5 or greater will be rounded up to the next whole Share.
A letter of transmittal will be mailed to registered shareholders by the Company’s transfer agent, Endeavor Trust Corporation once the Consolidation has taken effect. The letter of transmittal contains instructions on how registered shareholders can exchange their share certificates evidencing their pre-consolidation shares for new share certificates representing the number of post-consolidation shares to which they are entitled. Beneficial shareholders holding their shares through a brokerage may be subject to different procedures for obtaining their post-consolidation shares. If shareholders have any questions in this regard, they are encouraged to contact their respective brokerage or intermediary.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
David Greenway, CEO