June 6, 2023, VANCOUVER, BC – Musk Metals Corp. (“Musk Metals” or the “Company”) (CSE: MUSK) (OTC: EMSKF) (FSE: 1I30) announces its intention to consolidate its common shares (“Shares”) on a 4-old-for1-new share basis (the “Consolidation”).
The Shares currently issued and outstanding will be reduced to approximately 18,593,776 post-Consolidation Shares. Under the Consolidation, no fractional shares will be issued. After the Consolidation, each fractional share less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. The exercise or conversion price and the number of shares issuable under any of the Company’s outstanding stock options and convertible instruments, as applicable, will be proportionately adjusted upon completion of the Consolidation. A letter of transmittal will be sent to registered shareholders providing instructions to surrender the certificates evidencing their Shares for replacement certificates representing the number of post-consolidation Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Shares prior to the Consolidation will be deemed for all purposes to represent the number of Shares to which the holder thereof is entitled as a result of the Consolidation. Non-registered shareholders should consult their broker for further information.
The Board of Directors of 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.
The Board have set June 12, 2023, as the record date of the Consolidation. Trading of the Post Consolidated Common Shares on the Canadian Securities Exchange (“CSE”) is expected to commence on or about June 9, 2023, subject to final approval by the CSE. The Company CUSIP and ISIN number will change upon the completion of the Consolidation. The Company’s name and stock symbol will remain unchanged following the Consolidation.
About Musk Metals Corp. Musk Metals is a publicly traded exploration company focused on the development of highly prospective, discoverystage mineral properties located in some of Canada’s top mining jurisdictions.
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ON BEHALF OF THE BOARD
Nader Vatanchi CEO & Director
For more information on Musk Metals, please contact: Phone: 604-717-6605 Corporate e-mail: info@muskmetals.ca Website: www.muskmetals.ca Corporate Address: 2905 – 700 West Georgia Street, Vancouver, BC, V7Y 1C6
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events, or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements regarding the intended use of proceeds of the Offering and other matters regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements including that the Company may use the proceeds of the Offering for purposes other than those disclosed in this news release; adverse market conditions; and other factors beyond the control of the Company. Although the Company believes that the assumptions inherent in the forwardlooking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents or accuracy of this press release.
