04:44:15 EDT Thu 25 Apr 2024
Enter Symbol
or Name

Login ID:
Infinitum Copper Corp
Symbol INFI
Shares Issued 74,563,040
Close 2024-04-02 C$ 0.025
Market Cap C$ 1,864,076
Recent Sedar Documents

Infinitum to roll back shares one for two

2024-04-02 20:17 ET - News Release

Mr. Matt Hudson reports


Infinitum Copper Corp. has released the details of a proposed consolidation of its common shares. On March 21, 2024, in accordance with the constating documents of the company, the board of directors of the company passed a resolution authorizing the consolidation of the issued and outstanding common shares of the company on a one-for-two ratio.

Management believes that the consolidation is in the best interest of the company and will allow the company greater possibilities with respect to future financings. Currently, the company has 74,563,040 common shares issued and outstanding, and if the consolidation is approved and effected on a one-for-two basis, there will be 37,281,520 common shares issued and outstanding.

No fractional shares will be issued as a result of the consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares; otherwise, the fractional share will be cancelled. No cash consideration will be paid in respect of fractional shares.

The exercise price and number of common shares of the company issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the consolidation.

The company does not intend to change its name or seek a new stock trading symbol from the TSX Venture Exchange in connection with the consolidation. The consolidation remains subject to acceptance by the exchange.

Following receipt of acceptance by the exchange, the company will complete the necessary filings to give effect to the consolidation. Once completed, a letter of transmittal will be sent by mail to shareholders advising them that the consolidation has taken effect and instructing them to surrender the certificates evidencing their common shares for replacement certificates representing the number of common shares to which they are entitled as a result of the consolidation. Until surrendered, each certificate formerly representing common shares will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the consolidation.

About Infinitum Copper Corp.

Backed by a strong team of industry veterans, Infinitum is advancing La Adelita project, where the company has an option to earn an 80-per-cent interest. The high-grade copper-silver-gold La Adelita project is located in Sonora and Sinaloa states in Mexico. La Adelita is a carbonate replacement deposit located in a mineralized district with a rich history. Infinitum also has an option to earn a 25-per-cent interest in the Hot Breccia project in the heart of the Arizona copper belt about 90 kilometres north of Tucson, Ariz. The Hot Breccia project is prospective for porphyry copper and copper skarn mineralization.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.