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Hertz Energy Inc. (CSE: HZ,OTC:HZLIF) (OTCQB: HZLIF) (FSE: A34) (the "Company" or "Hertz") announces that the Company intends to consolidate its common shares (the "Shares") on a two and on-half (2.5) Share for one (1) Share basis (the "Consolidation"). The Company will disseminate a further news release with a proposed effective date for the Consolidation and news CUSIP and ISIN numbers.
The total issued and outstanding number of Shares post-Consolidation will be approximately 9,904,671, subject to rounding for fractional Shares.
No fractional Common Shares will be issued upon the Consolidation. In the event a holder of Shares would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the number of Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Share is less than one half (1/2) of a Common Share, and will be rounded up to the next whole number of Shares if that fractional Share is equal to or greater than one half (1/2) of a Share.
About the Company
Hertz Energy is a British Columbia-based junior exploration company focused on the acquisition and exploration of mineral properties in Eastern Canada. The Company maintains a strategic portfolio of four projects targeting lithium and antimony mineralization in Quebec and New Brunswick.
Lithium Portfolio: The Company's lithium assets include the Agastya Lithium Property in Quebec, comprising three non-contiguous claim blocks positioned along the greenstone belt adjacent to the Adina, Trieste, and Galinée properties-areas recognized for significant LCT (Lithium-Cesium-Tantalum) pegmatite potential within favorable greenstone and metasediment host rocks. The 26,500-hectare AC/DC Project is strategically located in Quebec's James Bay Lithium District, situated just 26 kilometers southeast of Patriot Battery Metals' Corvette Lithium Project and contiguous to Rio Tinto's Kaanaayaa project claims.
Antimony Portfolio: The Company's antimony assets consist of the Harriman Property, located 17 kilometers northeast of New Richmond in Quebec's Gaspé Region, where preliminary exploration is targeting antimony and gold mineralization along with zinc and copper potential. The Lake George Property, situated 30 kilometers southwest of Fredericton in New Brunswick, is being explored for antimony-gold mineralization.
For further information, please contact Mr. Kal Malhi or view the Company's filings at www.sedarplus.ca.
On Behalf of the Board of Directors
Kal Malhi
Chief Executive Officer and Director
Phone: 604-805-4602
Email: kal@bullruncapital.ca
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the Consolidation. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this news release. Additional risk factors can also be found in the Company's public filings under the Company's SEDAR+ profile at www.sedarplus.ca. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/262868
