VANCOUVER, British Columbia, Aug. 13, 2021 (Globalrelease Wire) — Recharge Resources Ltd. (RR: TSX-V) (SLLTF: OTC) (“Recharge” or the “Company”) is pleased to announce that its board of directors have approved a five (5) for one (1) stock split of the Company’s common shares (the “Stock Split”) held by shareholders as of September 15, 2021 (the “Record Date”).
Consequently, shareholders as of the Record Date will receive four (4) additional common shares for each common share held. In accordance with the Company’s Articles, shareholder approval was not required for the Stock Split. The Company will not be changing its name, CUSIP or its current trading symbol in connection with the Stock Split.
The Stock Split remains subject to the approval of the TSX Venture Exchange. The Company will issue a further news once an effective date and payment date have been determined.
After giving effect to the Stock Split, the Company will have approximately 506,655,580 common shares outstanding. The Company’s authorized share capital will remain unchanged.
Outstanding stock options and share purchase warrants will also be adjusted by the Stock Split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
About Recharge Resources
Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.
On Behalf of the Board of Directors,
Yari Nieken, CEO
For further information, please contact:
Recharge Resources Ltd.
Mr. Joel Warawa
E-Mail: [email protected]
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.
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s inability to identify transactions having satisfactory terms or at all and the results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.