Silicon Metals Corp. Announces Share Consolidation and Record Date
Rhea-AI Summary
Silicon Metals Corp. will effect a 1-for-5 share consolidation, effective at market open on April 7, 2026. Current issued shares of 53,051,908 will become 10,610,382 post-consolidation, subject to rounding.
The company will retain its trading symbol SI; new CUSIP is 82706E302 (ISIN: CA82706E3023). Outstanding options and warrants will be proportionately adjusted. Endeavor Trust will mail Letters of Transmittal to record shareholders with exchange instructions.
AI-generated analysis. Not financial advice.
Positive
- Share count reduced by 80% (1-for-5 consolidation)
- Post-consolidation outstanding shares: 10,610,382 (subject to rounding)
- Options and warrants will be proportionately adjusted to preserve economic terms
Negative
- Rounding adjustments may affect fractional share entitlements
- Broker-held shares require nominee coordination, creating administrative steps for some shareholders
Vancouver, British Columbia--(Newsfile Corp. - April 1, 2026) - SILICON METALS CORP. (CSE: SI) (FSE: X6U) ("Silicon Metals" or the "Company") announces that, further to its press release dated March 26, 2026, it will consolidate the common shares of the Company (each, a "Share") on the basis of one (1) post-consolidation Share for every five (5) pre-consolidation Shares (the "Consolidation"). The Shares are expected to commence trading on a post-Consolidation basis at the opening of the market on April 7, 2026, under the Company's symbol "SI". There is no name change or stock symbol change in connection with the Consolidation. The new CUSIP number is 82706E302 (ISIN: CA82706E3023).
Currently, a total of 53,051,908 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 10,610,382 Shares, subject to adjustments for rounding, will be issued and outstanding. There is no maximum number of authorized Shares. The exercise or conversion price and the number of Shares issuable under any of the Company's outstanding stock options or Share purchase warrants will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof.
Endeavor Trust Corporation will mail out a Letter of Transmittal to the shareholders of record on April 7, 2026, providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their Letter of Transmittal, to Endeavor in accordance with the instructions in the Letter of Transmittal.
Shareholders who hold their Shares through a broker, investment dealer, bank or trust company or other intermediary should contact that nominee or intermediary for assistance in depositing their Shares in connection with the Consolidation.
About Silicon Metals Corp.
Silicon Metals Corp. is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The Company's Maple Birch Project, located approximately 30km south-east of Sudbury, Ontario, is a high purity quartz pegmatite project with a 3,000 tonne per year production permit. The Company holds a
ON BEHALF OF THE BOARD OF DIRECTORS OF
SILICON METALS CORP.
"Ray Wladichuk"
Ray Wladichuk
Chief Executive Officer and Director
For more information regarding this news release and further details about Silicon's plans, please contact:
Raymond Wladichuk, CEO and Director
T: 1-778-926-8596
E: ir@siliconmetalscorp.com
W: www.siliconmetalscorp.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release).
Cautionary Note Regarding Forward-Looking Statements
We seek safe harbor
This news release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). All statements, other than statements of historical fact, included herein are forward-looking statements. Forward-looking statements are based on the reasonable assumptions, estimates, and opinions of management as of the date such statements are made and are subject to known and unknown risks, uncertainties, and other factors that may cause actual results or future events to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, general business, economic, competitive, political, and social uncertainties; uncertain and volatile equity and capital markets; reliance on key personnel; and changes in laws, regulations, and regulatory policies. There can be no assurance that such forward-looking statements will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking statements to reflect events or circumstances after the date of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/290950