VANCOUVER, BC, Jan. 13, 2025 /CNW/ - Silver Viper Minerals Corp. ("Silver Viper" or the "Company") (TSXV: VIPR) (OTC: VIPRF) announces that, following approval by its board of directors, the Company will consolidate its issued and outstanding common shares ("Common Shares") at a ratio of ten (10) pre-consolidation Common Shares to one (1) post-consolidation Common Share ("Consolidation"). The Common Shares will commence trading on a post-Consolidation basis at the start of trading on January 15, 2025.
No fractional Common Shares will be issued as a result of the Consolidation. The holdings of any shareholder who would otherwise be entitled to receive a fractional Common Share as a result of the Consolidation shall be rounded up to the next higher whole number if the fraction is 0.5 or greater and rounded down to the next lower whole number if the fraction is less than 0.5.
Letters of transmittal have been mailed to all registered shareholders of the Company with instructions on how to exchange existing share certificates for new share certificates or DRS statements.
Registered shareholders who hold their Common Shares via DRS are not required to complete a letter of transmittal. A sample letter of transmittal is also available on the Company's profile page on SEDAR+, if a registered shareholder does not receive a letter of transmittal in respect of its Common Shares represented by share certificates.
Non-registered shareholders (i.e. beneficial shareholders) who hold their Common Shares through an intermediary (i.e. a securities dealer, bank or financial institution) should note that the intermediary may have different procedures for processing the Consolidation from those that will be put in place by the Company for registered shareholders. Shareholders who hold their Common Shares through an intermediary who have questions in this regard should contact their intermediary for more information.
Prior to implementing the Consolidation, the Company had 194,771,623 Common Shares issued and outstanding and immediately after implementing the Consolidation, the Company expects to have 19,477,163 Common Shares issued and outstanding (subject to final immaterial rounding).
The Company's new CUSIP number is 828334409 and its new ISIN number is CA8283344098.
The Company's outstanding warrants and options will be adjusted on the same basis as the Consolidation with respect to the underlying Common Shares exercisable pursuant to the warrants and options with proportionate adjustments being made to exercise prices, as applicable.
About the Company
Silver Viper Minerals Corp. is a Canadian-based junior mineral exploration company focused on precious metals exploration in the northwestern Mexican state of Sonora. The Company is operator and 100% owner of the La Virginia Gold-Silver Project and recently acquired 100% interest in the Rubi-Esperanza group of claims internal to those concessions. Silver Viper is under management provided by the Belcarra Group, which is comprised of highly qualified mining professionals.
ON BEHALF OF THE BOARD OF DIRECTORS,
Steve Cope
President and CEO
STAY CONNECTED
Follow on X (Twitter): Silver Viper Minerals | X [twitter.com]
Follow on LinkedIn: Silver Viper Minerals | LinkedIn
Follow on Facebook: Silver Viper Minerals | Facebook
Forward Looking Information
Information set forth in this press release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to exploration and development, the ability of the Company to obtain additional financing, the need to comply with environmental and governmental regulations, fluctuations in the prices of commodities, operating hazards and risks, competition and other risks and uncertainties, including those described in the Company's financial statements available on www.sedarplus.ca. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
Neither the 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.
SOURCE Silver Viper Minerals Corp.
For Further Information, please contact Silver Viper Minerals Corp. at 604-687-8566, email [email protected] or visit our website at www.silverviperminerals.com.
