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Metal Energy Corp. (MERG: TSXV) (MEEEF: OTCQB) (the "Company" or "Metal Energy") is pleased to announce an update on its Projects, as well as a corporate update.
New Opportunities
Metal Energy continues to evaluate additional acquisition opportunities to build on its portfolio of high-quality assets in prolific mining jurisdictions, such as the Highland Valley District and the Thompson Nickel Belt.
Corporate Update
The Company is pleased to announce a consolidation of its outstanding Common Shares on the basis of one (1) new Common Share for every five (5) currently outstanding Common Shares.
Immediately prior to the consolidation there are expected to be 141,346,980 Common Shares issued and outstanding, and it is expected that there will be 28,269,396 Common Shares following the consolidation, subject to rounding for any fractional shares.
The Company's name and trading symbol will remain unchanged. A new CUSIP number of 591088208 (ISIN: CA5910882086) replaces the old CUSIP number.
The consolidation is expected to take effect on October 20, 2025 and is subject to TSX Venture Exchange approval.
The consolidation is being conducted on a "push-out" basis. Registered shareholders holding share certificates will be mailed a replacement certificate or a direct registration advice representing their post-consolidation shares. Until surrendered for exchange, following the effective date of the consolidation, is expected to be October 20, 2025, each share certificate formerly representing pre-consolidation shares will be deemed to represent the number of whole post-consolidation shares to which the holder is entitled as a result of the consolidation.
Holders of shares of the Company who hold uncertificated shares (that is shares held in book-entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book-entry account(s) electronically adjusted by the Company's transfer agent or, for beneficial shareholders, by their brokerage firms, banks, trusts or other nominees that hold in street name for their benefit. Such holders do not need to take any additional actions to exchange their pre-consolidation shares for post-consolidation shares. If you hold your shares with such a bank, broker or other nominee, and if you have questions in this regard, you are encouraged to contact your nominee.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding warrants, stock options and other securities exercisable for or convertible into Common Shares will be proportionately adjusted to reflect the consolidation in accordance with the respective terms thereof.
No fractional shares will be issued as a result of the share consolidation. The number of post consolidation shares to be received by a shareholder will be rounded up, in the case of a fractional interest that is 0.5 or greater, or rounded down, in the case of a fractional interest that is less than 0.5, to the nearest whole number of shares that such holder would otherwise be entitled to receive upon the implementation of the share consolidation.
About Metal Energy
Metal Energy is a critical metals exploration company with two high-potential projects in politically stable, Canadian jurisdictions: Manibridge (Ni-Cu-Co-PGE) (85%-owned) in Manitoba and its recently acquired Highland Valley Project (Cu-Mo-Ag-Au-Re) (100%-owned) in British Columbia.
For further information, please contact:
Metal Energy Corp.
MERG on the TSXV
info@oregroup.ca
www.metalenergy.ca
Reader Advisory
Certain information set forth in this news release contains forward-looking statements or information ("forward-looking statements)", including details about the business of Metal. All statements in this news release, other than statements of historical facts, that address events or developments that Metal Energy expects to occur, are forward-looking statements, including, but not limited to, the ability of Metal Energy to earn the Interest by the completion of the work obligations, or the exercise of the option. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Metal Energy's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks, competition from other industry participants, stock market volatility. Although the Company believes that the expectations in its forward-looking statements are reasonable, its forward-looking statements have been based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future results, levels of activity or achievements. Risks, uncertainties, material assumptions and other factors that could affect actual results are discussed in Metal Energy's public disclosure documents available at www.sedar.com. Furthermore, the forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Metal Energy does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270743
