Lithium One Announces Effective Date of Share Consolidation and Name Change to Black Spruce Exploration Inc.

Lithium One Metals (TSXV: LONE) received TSX Venture Exchange approval to change its name to Black Spruce Exploration Inc. and to complete a 1-for-3 share consolidation.

Rhea-AI Summary

Lithium One Metals (TSXV: LONE) received TSX Venture Exchange approval to change its name to Black Spruce Exploration Inc. and to complete a 1-for-3 share consolidation.

The Name Change and Consolidation take effect at the start of trading on December 4, 2025, and the company will trade under the symbol BARK with new CUSIP/ISIN 09225Q102/CA09225Q1028. Outstanding shares will be reduced from 82,891,113 to approximately 27,630,371. Shareholders' percentage ownership and voting power remain unchanged except for fractional-share adjustments.

Registered holders will receive letters of transmittal to exchange existing certificates for new post-consolidation certificates via Endeavor Trust Corporation; no new certificate will be delivered until the existing certificate is surrendered.

Positive

• Outstanding shares reduced from 82,891,113 to ~27,630,371
• Company will trade under new ticker BARK starting December 4, 2025

Negative

• Fractional shares less than 0.5 will be rounded down and cancelled
• Shareholders must surrender existing certificates to receive new certificates

Argus Dec 2 session

-1.32% close to close Open Argus

Details

News Market Reaction – LOMEF

On Dec 2, the day this news came out, LOMEF closed 1.32% below the previous close.

Data tracked by StockTitan Argus for the Dec 2 session.

Key Figures

Share consolidation ratio: 1-for-3 Pre-consolidation shares: 82,891,113 shares Post-consolidation shares: 27,630,371 shares +5 more

Share consolidation ratio

1-for-3

One new common share for every three common shares

Pre-consolidation shares

82,891,113 shares

Common shares issued and outstanding before consolidation

Post-consolidation shares

27,630,371 shares

Approximate common shares after consolidation

Effective date

December 4, 2025

Name change and share consolidation effective at start of trading

CUSIP

09225Q102

New CUSIP for post-consolidation common shares

ISIN

CA09225Q1028

New ISIN for post-consolidation common shares

Price change 24h

-14.29%

LOMEF move prior to/around consolidation news

Relative volume

6.69x

Today’s volume vs 20-day average

Historical Context

1 past event · Latest: Dec 02

1 event

1. Dec 02

   Name & share change

   24h Move

   -1.7%

   TSXV-approved name change and 1-for-3 share consolidation effective Dec 4, 2025.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

share consolidation, cusip, isin, fractional common shares, +2 more

6 terms

share consolidation financial

"to consolidate the Company's outstanding common shares on the basis of one new common share for every three"

Share consolidation is a process where a company reduces the total number of its shares by combining multiple existing shares into a smaller number of higher-value shares. This can make each share more expensive and potentially improve the company’s image. For investors, it often means their ownership remains the same, but the value of each share increases, which can influence how the stock is perceived and traded.

cusip financial

"the Company will trade under the symbol "BARK" and under the new CUSIP/ISIN numbers 09225Q102/CA09225Q1028"

A CUSIP is a nine-character alphanumeric code that uniquely identifies a U.S. or Canadian financial security—such as a stock, bond, or fund share—like a Social Security number for an investment. It matters to investors because brokers, exchanges and record-keepers use the CUSIP to match trades, track ownership, settle transactions and pull accurate records, reducing errors and ensuring money and securities go to the right place.

View in glossary

isin financial

"the Company will trade under the symbol "BARK" and under the new CUSIP/ISIN numbers 09225Q102/CA09225Q1028"

A 12-character International Securities Identification Number (ISIN) is a unique code that acts like a passport for a specific stock, bond or other tradable security so it can be identified worldwide. Investors and systems use it to ensure they are buying, selling and tracking the exact same instrument across exchanges and data feeds, which prevents costly mix-ups and makes portfolio reporting, settlement and regulatory checks simpler and more reliable.

View in glossary

fractional common shares financial

"resulting from the treatment of any fractional common shares. As a result of the Consolidation, if a shareholder"

A fractional common share is a portion of a single company share — less than one whole share — that gives you proportional ownership, dividends, and price movement tied to that company. Think of it like buying a slice of a pie instead of the whole pie; it lets investors use small amounts of money to diversify across more stocks and buy high-priced shares they couldn’t afford otherwise, though some broker rules may affect voting or settlement details.

registrar and transfer agent financial

"Existing Certificates to the Company's registrar and transfer agent, Endeavor Trust Corporation, in exchange"

A registrar and transfer agent is the third-party service that keeps the official list of a company's shareholders and carries out changes to ownership — issuing or cancelling shares, recording trades, and handling name or address updates. Think of them as a combination of a secure records office and a mail carrier for stock ownership: they make sure who owns what is correct, process transfers smoothly, and handle dividend or corporate-action payments, which protects investors and preserves clear, trustworthy ownership records.

letters of transmittal regulatory

"the Company expects to send letters of transmittal to registered holders of its common shares"

A letter of transmittal is a written form shareholders use to send their stock certificates or electronic holdings to the party buying the shares in a tender offer, merger, or buyout and to claim the promised payment or new securities. Think of it like a return form and receipt combined: it gives clear instructions, confirms ownership, and ensures an investor gets the correct payment or replacement shares, so missing or incorrect paperwork can delay or jeopardize receiving value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Vancouver, British Columbia--(Newsfile Corp. - December 2, 2025) - Lithium One Metals Inc. (TSXV: LONE) (the "Company" or "Lithium One") is pleased to announce that it has received approval from the TSX Venture Exchange to change the Company's name to "Black Spruce Exploration Inc." (the "Name Change") and to consolidate the Company's outstanding common shares on the basis of one new common share for every three common shares (the "Consolidation").

The Name Change and Consolidation will take effect at the start of trading on December 4, 2025, and the Company will trade under the symbol "BARK" and under the new CUSIP/ISIN numbers 09225Q102/CA09225Q1028. As a result of the Consolidation, the 82,891,113 common shares issued and outstanding prior to the Consolidation will be reduced to approximately 27,630,371 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. As a result of the Consolidation, if a shareholder becomes entitled to receive a fraction of a common share, such fractional share, if less than one-half, will be rounded down to zero (and cancelled) and, if equal to or greater than one-half, will be rounded up to one and added to the number of shares to be held by the shareholder.

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, Endeavor Trust Corporation, 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 Lithium One

Lithium One Metals is a Canadian exploration company specializing in the acquisition and development of high-potential lithium properties in Ontario and Québec.

On behalf of Lithium One Metals Inc.
Nav Dhaliwal, Interim President and Chief Executive Officer

For more information, please visit the Company's website at https://lithiumonemetals.com
or contact: Nav Dhaliwal
Tel: +1-604-678-5308
Email: info@lithiumonemetals.com

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.

Cautionary Note Regarding Forward-Looking Statements

Statements contained in this press 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 and the United States Private Securities Litigation Reform Act of 1995. The words "anticipate," "significant," "expect," "may," "will" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change in a materially adverse manner and all requisite information will be available in a timely manner. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays; general economic, market or business conditions, regulatory changes, timeliness of regulatory approvals, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise financing. Readers are cautioned not to place undue reliance on this Forward-Looking Information. The Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276567

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Lithium One (TSXV: LONE) start trading as Black Spruce Exploration (BARK)?

The Name Change and Consolidation take effect at the start of trading on December 4, 2025.

What is the consolidation ratio for Lithium One's share consolidation?

The consolidation is one new common share for every three existing common shares (1-for-3).

How many shares will be outstanding after the consolidation for Lithium One?

Outstanding common shares will be reduced to approximately 27,630,371 from 82,891,113 prior to the consolidation.

What happens to fractional shares after Lithium One's 1-for-3 consolidation?

If a shareholder is entitled to a fractional share, fractions less than one-half will be rounded down and cancelled; fractions ≥ one-half will be rounded up to one share.

Who is handling the exchange of existing share certificates for new certificates after the consolidation?

Endeavor Trust Corporation, the company's registrar and transfer agent, will handle exchanges using letters of transmittal sent to registered holders.