Vancouver, British Columbia--(Newsfile Corp. - January 13, 2021) - Bam Bam Resources Corp. (CSE: BBR) (OTC PINK: NPEZF) (FSE: 4NPB) ("Bam Bam" or the "Company") is pleased to announce that its board of directors has approved a three for one stock split of the Company's common shares (the "Stock Split") held by shareholders as of February 23, 2021 (the "Record Date"). Consequently, shareholders as of the Record Date will receive, on March 2, 2021 (the "Payment Date"), two additional common shares for each common share held. In accordance with the Company's Articles, shareholder approval was not required for the Stock Split. The Company will not be changing its name, CUSIP or its current trading symbol in connection with the Stock Split.
The Company's common shares are expected to begin trading on a split-adjusted basis on or around February 22, 2021.
David Greenway, President & CEO commented: "We initiated this share split to enhance trading volume for the stock and assist in acquiring new shareholders for the three exchanges we are listed on. This split will also grant existing shareholders a larger position with the Company and add to the excitement for the upcoming year and our initiative."
Shareholders do not need to take any action. The Company's transfer agent will send to all registered shareholders, on the Payment Date, a notice under the direct registration system indicating the number of additional common shares that they received as a result of the Stock Split. These additional common shares will be held in book-entry form and registered electronically in the transfer agent's recordkeeping system, unless a physical share certificate is requested by the registered shareholder. Currently outstanding share certificates representing common shares of the Company will continue to be effective. They should be retained by registered shareholders and should not be forwarded to the Company or its transfer agent. Non-registered shareholders will have their brokerage accounts automatically updated to reflect the Stock Split.
After giving effect to the Stock Split, the Company will have approximately 64,994,853 common shares outstanding. The Company's authorized share capital will remain unchanged.
Outstanding stock options, RSUs and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
About Bam Bam Resources Corp.
Bam Bam Resources Corp. (CSE: BBR) (OTC PINK: NPEZF) (FSE: 4NPB) is engaged in the identification, review and acquisition of latter stage copper and copper/gold assets. The flagship project is the Majuba Hill copper gold project located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions and government regulations supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Bam Bam Resources Corp.
"David Greenway"
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
E: jw@bambamresources.com
P: 1 (855) 475-0745
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Bam Bam Resources Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Bam Bam Resources Corp. management on the date the statements are made. Except as required by law, Bam Bam Resources Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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