November 6, 2019 – Luckystrike Resources Ltd. (TSX-V: LUKY) (the “Company” or “Luckystrike”) announces its intention to consolidate its common shares (“Shares”) on a 10-old-for-1-new share basis (the “Consolidation”).
The 39,626,688 Shares currently issued and outstanding will be reduced to approximately 3,962,669 post- Consolidation Shares. No fractional shares will be issued under the Consolidation. Each fractional share following the Consolidation that is 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.
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 Consolidation is subject to the acceptance of the TSX Venture Exchange (the “Exchange”) and the pre- Consolidated Shares will continue to be traded on the Exchange under the current trading symbol “LUKY”. Upon acceptance by the exchange, the Company’s trading symbol will remain the same but the CUSIP and ISIN numbers will change upon the completion of the Consolidation.
ON BEHALF OF THE BOARD
John Newell, President and Chief Executive Officer
For new information from the Company’s programs, please visit Luckystrike’s website at LuckystrikeRes.com or contact John Newell by telephone at (604) 568-8807 or by email at firstname.lastname@example.org.
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.
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “anticipates”, “expects”, “understanding”, “has agreed to” or variations of such words and phrases or statements that certain actions, events or results “would”, “occur” or “be achieved”. Although Luckystrike has attempted to identify important factors and risks that could affect Luckystrike and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended, including, without limitation: inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with Luckystrike’s expectations; accidents, equipment breakdowns, title and permitting matters; labour disputes or other unanticipated difficulties with or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on its projects; that Luckystrike may not be able to confirm historical exploration results and other risks set forth in Luckystrike’s public filings at www.sedar.com. In making the forward- looking statements in this news release, Luckystrike has applied several material assumptions, including the assumption that general business and economic conditions will not change in a materially adverse manner. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Luckystrike does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.