Vancouver, British Columbia–(Newsfile Corp. – November 9, 2023) – Sonoran Desert Copper Corporation (TSXV: SDCU) (“SDCU” or the “Company“) announces that further to the October 31, 2023 news release, the Company will consolidate its issued and outstanding shares on a ratio of one post-consolidation share for 4 pre-consolidation shares (the “Consolidation”).
Effective at the open of markets on or about November 14, 2023, the shares of the Company will trade on a post-consolidation basis under the new CUSIP 83569N207 (ISIN: CA83569N2077). The Company currently has 101,139,062 shares issued and outstanding. Following the consolidation, there will be approximately 25,284,766 shares issued and outstanding.
The Company believes that the Consolidation is necessary to better position the Company for future corporate development opportunities and financing transactions. There will be no name change in conjunction with the Consolidation.
Registered shareholders of the Company who hold shares represented by a physical certificate or direct registration system advice will receive a letter of transmittal from the transfer agent for the Company, TSX Trust, with instructions on how to exchange their existing certificate or DRS advice for a post-consolidation certificate or DRS Advice.
The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding warrants and stock options will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms. No fractional common shares will be issued pursuant to the Consolidation, and any fractional common shares that would otherwise be issued will be rounded down or up to the nearest whole number.
About Sonoran Desert Copper Corporation
Sonoran Desert Copper Corporation is focused on the development of its Cuatro Hermanos copper / molybdenum porphyry project in Sonora, Mexico (the “4H Project”).
On behalf of the Board of Directors of
SONORAN DESERT COPPER CORPORATION
“Brian Leeners”
Brian Leeners, CEO & Director
[email protected] / +1 604-862-4184 (WhatsApp)
FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
The information contained herein contains “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be “forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
