ExGen Announces 10 for 1 Consolidation

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) (" ExGen ") is pleased to announce that, subject to TSX Venture Exchange (" TSX Venture ") acceptance, ExGen intends to complete a consolidation (the " Consolidation ") of its common shares (" Common Shares ") on the basis of 10 pre-Consolidation Common Shares for 1 post-Consolidation Common Share. The record date for the Consolidation will be set subsequent to the regulatory approvals for the Consolidation being ‎obtained. ExGen will issue a further news ‎release confirming the record date and the effective date for the Consolidation.‎

Once implemented, the Consolidation will not change ExGen's authorized share capital and each ‎shareholder will hold the same percentage of Common Shares outstanding immediately after the ‎Consolidation as such shareholder held immediately prior to the Consolidation. However, the exercise price and number of ‎Common Shares of ExGen issuable upon the exercise of outstanding warrants, and options, if any, will be ‎proportionally adjusted upon the implementation of the Consolidation in accordance with the terms ‎of such securities.‎

About   ExGen   Resources Inc.

ExGen, is a project accelerator that seeks to fund exploration and development of our projects through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 6 projects in Canada and the US.

For more information on ExGen please contact ExGen Resources Inc.

Jason Tong
Chief Financial Officer
Email: jason@catapultgroup.ca

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts respon   sibility for the adequacy or accuracy of this   news release   .

This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities laws. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. In particular, this news release contains forward-looking information in respect of the completion of the Consolidation. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward looking- information. This forward-looking information reflects ExGen's current beliefs and is based on information currently available to ExGen and on assumptions ExGen believes are reasonable. These assumptions include, but are not limited to: TSX Venture acceptance of the Consolidation; and the market acceptance of ExGen's business strategy. Forward-looking information is subject to known and unknown risks, uncertainties and other factors which may ‎cause the actual results, level of activity, performance or achievements of ExGen to be materially different from ‎those expressed or implied by such forward-looking information. Such risks and other factors may include, but are ‎not limited to: the early stage development of ExGen and its projects; general business, economic, competitive, ‎political and social uncertainties; capital market conditions and market prices for securities, junior market securities ‎and mining exploration company securities; commodity prices, and in particular, copper, gold, silver and zinc prices; the actual results of current exploration and ‎development or operational activities; competition; changes in project parameters as plans continue to be refined; ‎accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or ‎regulatory approvals; changes in legislation, including environmental legislation or income tax legislation, affecting ‎ExGen; timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; and risks ‎related to COVID-19 including various recommendations, orders and measures of governmental authorities to ‎try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, ‎quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, ‎financing, supply chains and sales channels, and a deterioration of general economic conditions including a ‎possible national or global recession. ‎A description of additional risk factors that may cause actual results to differ materially from forward-looking ‎information can be found in ExGen's disclosure documents on the SEDAR website at www.sedar.com. Although ‎ExGen has attempted to identify important factors that could cause actual results to differ materially from those ‎contained in forward-looking information, there may be other factors that cause results not to be as anticipated, ‎estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further ‎cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, ‎intentions or expectations upon which they are placed will occur. Forward-looking information contained in this ‎news release is expressly qualified by this cautionary statement. The forward-looking information contained in this ‎news release represents the expectations of ExGen as of the date of this news release and, accordingly, is subject to ‎change after such date. However, ExGen expressly disclaims any intention or obligation to update or revise any ‎forward-looking information, whether as a result of new information, future events or otherwise, except as expressly ‎required by applicable securities law.‎

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

The Conversation (0)

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

The shareholders of Lundin Mining Corporation (TSX: LUN) together with BHP Group Limited and Filo Corp. (TSX: FIL) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Filo Corp. will be exchanged for 2.3578 shares of Lundin Mining or C$33.00 cash subject to proration of a max cash of C$2,767 million and maximum share consideration of 92.1 million Lundin Mining shares.

In expectation of the arrangement closing, Filo Corp. will be removed from the S&P/TSX Composite Index prior to the open of trading on January 15, 2025 . The shares outstanding of Lundin Mining will be increased at the same time to reflect the issuance of shares.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

S&P Dow Jones Indices Announces Changes to the S&P/TSX Composite Index

The shareholders of Lundin Mining Corporation (TSX: LUN) together with BHP Group Limited and Filo Corp. (TSX: FIL) have agreed to the terms of a Plan of Arrangement resulting in the combination of the two companies. Each share of Filo Corp. will be exchanged for 2.3578 shares of Lundin Mining or C$33.00 cash subject to proration of a max cash of C$2,767 million and maximum share consideration of 92.1 million Lundin Mining shares.

In expectation of the arrangement closing, Filo Corp. will be removed from the S&P/TSX Composite Index prior to the open of trading on January 15, 2025 . The shares outstanding of Lundin Mining will be increased at the same time to reflect the issuance of shares.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
BHP headquarters.

BHP Reveals Cohort for Xplor 2025 Critical Minerals Program

Mining giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP) introduced its Xplor 2025 cohort on Monday (January 6), choosing eight out of hundreds of applicants worldwide.

Under Xplor 2025’s terms, each of the companies is entitled to receive an equity-free grant of up to US$500,000 and access to a network of BHP and external industry experts to build out and accelerate their exploration concepts.

The selected companies and the countries they focus on are as follows:

Keep reading...Show less

Filo Sets Election Deadline and Announces Anticipated Closing Date in Connection with the Acquisition by BHP and Lundin Mining

Filo Corp. (TSX: FIL) (Nasdaq First North Growth Market: FIL) (OTCQX: FLMMF) (" Filo " or the " Company ") is pleased to announce that the deadline for registered shareholders (the " Registered Shareholders ") of the issued and outstanding common shares of Filo (the " Filo Shares ") and for holders of stock options of Filo (the " Optionholders ") to make elections in respect of the consideration receivable pursuant to the Arrangement (as defined below) is 5:00 P.M. (Toronto Time) on January 9, 2025 (the " Election Deadline "). PDF Version

The letter of transmittal and election form (the " Letter of Transmittal ") outlines the necessary documentation and information required to be sent to the depositary for the Arrangement, Computershare Investor Services Inc. (the " Depositary "), by each Registered Shareholder and Optionholder in order to receive the consideration to which they are entitled under the Arrangement, and make an election with respect to the form of consideration they wish to receive. For complete instructions, please refer to the Letter of Transmittal previously mailed to Registered Shareholders and Optionholders on December 12, 2024 and also available under Filo's profile on SEDAR+ at www.sedarplus.ca and on the Company's corporate website at http://filocorp.com/investors/corporate-filings/ .

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Business handshake.

Cygnus Metals and Doré Copper Complete Merger, Plan 2025 Drill Program at Chibougamau

Cygnus Metals and Doré Copper Mining said on Wednesday (January 1) that they have completed their merger.

The combined entity will be a critical minerals explorer and developer with two core assets in Québec, Canada.

Cygnus acquired all of the issued and outstanding common shares of Doré on Tuesday (December 31) through a Canadian statutory plan of arrangement, finalizing the deal. Cygnus shares are listed on the ASX under the symbol CY5, and are expected to start trading on the TSXV under the symbol CYG on or about Friday (January 3).

Keep reading...Show less
Copper ore.

Copper Price Forecast: Top Trends for Copper in 2025

Copper prices saw impressive gains in 2024, even breaking the US$5 per pound mark in May. However, the red metal's gains didn't last, and by the end of the year copper had retreated back to the US$4 range.

The start of 2025 could be eventful, with Donald Trump returning to the Oval Office, a new stimulus package coming into effect in China and a continued push for greener technologies around the world.

What will these factors mean for copper prices in the new year? Will they rise, or can investors expect the base metal to remain rangebound? Here's a look at what experts see coming for the important commodity.

Keep reading...Show less

Latest Press Releases

Related News

×