Search Minerals Clarifies Timing for TSX Venture Exchange Reinstatement to Trading and Share Consolidation

Rhea-AI Summary

Search Minerals (TSXV: SMY) has announced important updates regarding its trading status and share consolidation. The company's shares will resume trading on the TSX Venture Exchange on June 16, 2025. Following this, a 10:1 share consolidation will be implemented at market open on June 17, 2025, where shareholders will receive one post-consolidation share for every ten pre-consolidation shares held. This clarification follows the company's previous announcement on June 12, 2025.

Positive

• Trading suspension will be lifted on June 16, 2025, allowing market access to resume

Negative

• 10:1 share consolidation indicates significant share reduction which could impact liquidity
• Share consolidation may suggest company's need to meet minimum share price requirements

St. Lewis, Newfoundland and Labrador--(Newsfile Corp. - June 13, 2025) - Further to its press release of June 12, 2025, Search Minerals Inc. (TSXV: SMY) ("Search Minerals" or the "Company") wishes to announce a clarification regarding the timing for the reinstatement for trading of its common shares (the "Shares") on the TSX Venture Exchange (the "TSXV") and the consolidation of its Shares. The Shares will be reinstated for trading at the market open on June 16, 2025. The consolidation of the Shares, on the basis of one (1) post-consolidation Share for every ten (10) pre-consolidation Shares, will then take effect at the market open on June 17, 2025.

For further information about Search Minerals, please contact:

Joseph Lanzon
CEO and Director
Telephone: 613-796-5957
Email: joseph.lanzon@searchminerals.ca

About Search Minerals

Search Minerals is focused on exploring for and developing Critical Rare Earths Elements (CREE) as well as transition metals Zirconium (Zr) and Hafnium (Hf) within the emerging Port Hope Simpson - St. Lewis CREE District of South-East Labrador. The Company controls two deposits (Foxtrot and Deep Fox), two drill ready prospects (Fox Meadow and Silver Fox) and numerous other CREE prospects, including Fox Valley, Foxy Lady and Awesome Fox, along a 64 kilometre long belt forming a CREE District in Labrador.

Search Minerals also controls additional CREE assets in the Red Wine CREE District of central Labrador. These include: the drill ready Two Tom Lake CREE-Be-Nb deposit, the Mann #1 CREE-Nb-Be prospect and Merlot CREE Prospect.

Forward-Looking Statements

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 or variations of such words and phrases or statements such as "anticipate", "expect" "plan", "likely", "believe", "intend", "forecast", "project", "estimate", "potential", "could", "may", "will", "would" or "should". Forward-Looking Information in this news release are based on certain material assumptions and involve, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Search Minerals to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, those factors discussed in Search Minerals' public filings. Although Search Minerals has attempted to identify important factors that could affect Search Minerals and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. 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. For further information on these and other risks and uncertainties that may affect the Company's business, see the Company's Management's Discussion and Analysis filed with certain Canadian securities regulators, which are available at www.sedarplus.ca. Except as required by law, Search Minerals 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.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255589

FAQ

When will Search Minerals (SHCMF) shares resume trading on TSXV?

Search Minerals shares will resume trading on the TSX Venture Exchange at market open on June 16, 2025.

What is the ratio of Search Minerals' share consolidation?

Search Minerals will implement a 10:1 share consolidation, where shareholders will receive one post-consolidation share for every ten pre-consolidation shares.

When will Search Minerals' share consolidation take effect?

The share consolidation will take effect at market open on June 17, 2025.

What happens to Search Minerals shareholders after the consolidation?

Shareholders will receive one new share for every ten shares they currently hold when the consolidation takes effect on June 17, 2025.