Millrock Announces Effective Date of Name Change to Alaska Energy Metals Corporation
21 Mars 2023 - 1:30PM
Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF)
(“
Millrock” or the
“Company”) is
pleased to announce that it has received approval from the TSX
Venture Exchange to change the Company’s name to “Alaska Energy
Metals Corporation” (the “
Name Change”) and to
consolidate the Company’s outstanding common shares on the basis of
one new common share for every ten common shares (the
“
Consolidation”).
The Name Change and Consolidation will take effect at the start
of trading on March 22, 2023, and the Company will trade under the
symbol AEMC. Alaska Energy Metals Corporation intends to focus all
its efforts on the Nikolai project in central Alaska, a highly
prospective polymetallic exploration target containing nickel,
copper, cobalt, chrome, iron, platinum, and palladium.
As a result of the Consolidation, the 156,172,394 common shares
issued and outstanding prior to the Consolidation will be reduced
to approximately 15,617,239 common shares. Each shareholder’s
percentage ownership in the Company and proportionate voting power
will remain unchanged after the Consolidation, except for minor
changes and adjustments resulting from the treatment of any
fractional common shares.
In connection with the Consolidation, the Company expects to
send letters of transmittal to registered holders of its common
shares for use in transmitting their existing share certificates
(“Existing Certificates”) to the Company’s
registrar and transfer agent, Computershare Trust Company of
Canada, in exchange for new certificates (“New
Certificates”) representing the number of
post-Consolidation common shares to which each shareholder is
entitled.
No delivery of a New Certificate to a shareholder will be made
until the shareholder has surrendered its Existing Certificates.
Until surrendered, each Existing Certificate shall be deemed for
all purposes to represent the number of post-Consolidation common
shares to which the holder is entitled.
About Alaska Energy MetalsAlaska Energy Metals
Corporation will be focused on delineating and developing a large
polymetallic exploration target containing nickel, copper, cobalt,
chrome, iron, platinum, and palladium. Located in
development-friendly central Alaska near existing transportation
and power infrastructure, the project is well-situated to become a
significant, domestic source of critical and strategic
energy-related metals. The Company intends to delineate a major
metal resource by the end of 2024.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Gregory
A. Beischer, President & CEOToll-Free: 877-217-8978 | Local:
604-638-3164
Some statements in this news release may contain forward-looking
information (within the meaning of Canadian securities
legislation), including, without limitation, the Company’s
successful realization of adequate financing to explore and develop
the Nikolai project and to achieve milestones successfully. The
potential quantity and grade of mineralized rock targeted by Alaska
Energy Metals are conceptual in nature. There has been insufficient
exploration drilling to estimate a Mineral Resource, and it is
uncertain if further exploration will result in the estimation of a
Mineral Resource. The Company has stated its intention to liquidate
non-core assets, but there is no assurance that it will be
successful in doing so. All these statements address future events
and conditions and, as such, involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements to be materially different
from any future results, performance, or achievements expressed or
implied by the statements. Forward-looking statements speak only as
of the date those statements are made. Except as required by
applicable law, the Company assumes no obligation to update or to
publicly announce the results of any change to any forward-looking
statement contained or incorporated by reference herein to reflect
actual results, future events or developments, changes in
assumptions, or changes in other factors affecting the
forward-looking statements. If the Company updates any
forward-looking statement(s), no inference should be drawn that it
will make additional updates with respect to those or other
forward-looking statements.
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