VANCOUVER, BC, Nov. 28,
2024 /CNW/ - Scottie Resources Corp.
("Scottie" or the "Company") (TSXV: SCOT) (OTCQB:
SCTSF) (FSE:SR8) is pleased to announce that the previously
announced consolidation of the Company's issued and outstanding
common shares at a ratio of six pre-consolidation shares to one
post-consolidation share (the "Consolidation") will become
effective at the market opening on December 3,
2024.
Immediately prior to the Consolidation, the Company had
299,819,618 common shares issued and outstanding. Upon completion
of the Consolidation, the Company will have approximately
49,970,000 common shares issued and outstanding. Fractional shares
of 0.5 or greater will be rounded up to the nearest whole number of
common shares and fractional shares of less than 0.5 will be
rounded down to the nearest whole number of Shares. Some slight
variance is expected due to fractional rounding. As is customary,
to reflect the Consolidation, all outstanding warrants and
incentive stock options will be adjusted to increase their exercise
price by a factor of six and to reduce the number of common shares
issued upon exercise by dividing by six.
ABOUT SCOTTIE RESOURCES CORP.
Scottie owns a 100% interest in the Scottie Gold Mine Property
which includes the Blueberry Contact Zone and the high-grade,
past-producing Scottie Gold Mine.
Scottie also owns 100% interest in the Georgia Project which
contains the high-grade past-producing Georgia River Mine, as well as the Cambria
Project properties and the Sulu and Tide North properties.
Altogether Scottie Resources holds approximately 58,500 hectares of
mineral claims in the Stewart Mining Camp in the Golden
Triangle.
The Company's focus is on expanding the known mineralization
around the past-producing mines while advancing near mine
high-grade gold targets, with the purpose of delivering a potential
resource.
All of the Company's properties are located in the area known as
the Golden Triangle of British
Columbia which is among the world's most prolific
mineralized districts.
Forward Looking Statements
This news release may contain 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 the Company 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 the Company's
management on the date such statements were made. 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy of accuracy of
this release.
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SOURCE Scottie Resources Corp.