VANCOUVER, BC, May 28, 2024 /CNW/ - Kubera Gold Corp. (the "Company") (TSXV: KBRA) is pleased to announce that its board of directors have approved a forward split of the Company's common shares (the "Common Shares") on the basis of two (2) new Common Shares for each one (1) Common Share currently outstanding (the "Share Split"), with an effective date of May 31, 2024. Each shareholder of record of the Company as of the close of business on May 31, 2024 (the "Record Date") will receive one (1) additional share for each share held on such date.
The Company currently has 9,591,920 Common Shares issued and outstanding. Upon completion of the Share Split, there will be 19,183,840 Common Shares issued and outstanding. The Company's authorized share capital will remain unchanged. Outstanding stock options will also be adjusted by the Share Split ratio and the exercise price of outstanding stock options will be adjusted accordingly.
The Share Split will be conducted on a push-out basis, therefore no action is required by shareholders in connection with the Share Split. Existing direct registration statements ("DRS") representing Common Shares of the Company will remain effective. They should be retained by shareholders and should not be forwarded to the Company or Odyssey Trust Company ("Odyssey"), the Company's registrar and transfer agent. Odyssey will electronically issue the appropriate number of Common Shares to CDS Clearing and Depository Services Inc. for distribution to non-registered (beneficial) shareholders. Non-registered (beneficial) shareholders who hold their Common Shares in an account with their investment dealer or other intermediary will have their accounts automatically updated to reflect the Share Split in accordance with the applicable brokerage account providers' usual procedures. In addition, on or about June 4, 2024, Odyssey will email or mail DRS representing the additional Common Shares issued to registered shareholders as a result of the Share Split.
There will be no change to the Company's name, CUSIP or its current trading symbol in connection with the Share Split.
The purpose of the Share Split is to increase market liquidity of Kubera's Common Shares, and provide opportunities for ownership of Kubera's Common Shares by a wider group of investors.
About the CompanyKubera Gold Corp. is a mineral exploration company engaged in the identification, acquisition, and exploration of mineral projects. The Company holds an option to acquire a 100% interest in and to the Dash Lake Project, which consists of mineral claims covering nearly 815 hectares approximately 90 km north of the town of Fort Frances, Ontario, in the Kenora Mining Division.
On Behalf of the Board of Directors of Kubera Gold Corp.
Scott Ackerman
President, CEO, Corporate Secretary and Director
Neither TSX Venture Exchange 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.
This news release includes certain forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements concerning Kubera's plans, intentions and expectations, which are not historical in nature, are intended to be, and are hereby identified as, "forward-looking statements".
Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward looking information can be identified by words such as "pro forma", "plans", "expects", "will", "may", "should", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", "potential" or variations of such words including negative variations thereof, and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others, risk that the Company will not complete the Company's option to acquire the Dash Lake Project, the proposed expenditures for exploration work thereon, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, the Company's limited operating history, title disputes or claims, environmental issues and liabilities, as well as those factors discussed under the heading "Risk Factors" in the Prospectus and other filings of the Company with the Canadian Securities Authorities, copies of which can be found under the Company's profile on the SEDAR+ website at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this presentation or incorporated by reference herein, except as otherwise required by law.
SOURCE Kubera Gold Corp.
For further information: For more information, please contact the Company at 778-331-8505 or email: [email protected] or [email protected]
