Vancouver, British Columbia--(Newsfile Corp. - June 14, 2024) - Eureka Lithium Corp. (CSE: ERKA) (OTCQB: UREKF) (FSE: S580) ("Eureka Lithium" or "Eureka" or the "Company") announces that it intends to proceed with a share consolidation (the "Consolidation") of its issued and outstanding common shares ("Common Shares") on the basis of one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares. Following the Consolidation, the Company will have outstanding approximately [5,175,459] post-consolidation Common Shares. The Company has approved a record date of June 19, 2024 ("Record Date"). The Company's consolidated shares are expected to commence trading on the Canadian Securities Exchange ("CSE") a few days after the Record Date, and the Company anticipates that the CSE will issue a bulletin to dealers advising of the Consolidation and effective date of trading on the consolidated basis.
After the Consolidation, the shares will have a new CUSIP number and a new ISIN number. No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded up to the next whole Common Share, and no cash consideration will be paid in respect of fractional shares.
Pursuant to the articles of the Company, the Board of Directors of the Company has approved the Consolidation. The Company believes the Consolidation will provide it with a share structure more suitable to attracting capital financing and providing for future growth opportunities.
The Consolidation remains subject to receipt of approval from the Canadian Securities Exchange. The Company name and trading symbol will not be changed in conjunction with the Consolidation.
About Eureka Lithium Corp.
Eureka Lithium is the largest lithium-focused landowner in the northern third of Quebec, known as the Nunavik region, with 100% ownership of three projects comprising 1,408 sq. km in the emerging Raglan West, Raglan South and New Leaf Lithium Camps. These claims were acquired from legendary prospector Shawn Ryan and are located in a region that hosts two operating nickel mines with deep-sea port access.
For more information please contact:
DJ Bowen
Chief Executive Officer
Email: info@eurekalithiumcorp.com
Cautionary Statement
Certain statements contained in this news release, including statements which may contain words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates", or similar expressions, and statements related to matters which are not historical facts, such as statements regarding the contemplated completion and anticipated benefits of the Consolidation, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements reflect management's expectations and are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company believes that the expectations reflected in the forward-looking statements contained in this news release are reasonable, but no assurance can be given that these expectations will prove to be correct, nor that the Consolidation will be completed, nor have the intended effects, as contemplated, or at all. The Company undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.