Spearmint Announces Share Consolidation and Name Change and Symbol Change
Spearmint Resources (OTC:SPMTF) has announced a significant corporate restructuring effective June 30, 2025. The company will implement a 1-for-10 share consolidation, reducing its outstanding shares from 287,828,583 to approximately 28,782,858. Additionally, the company will undergo a name change to Adelayde Exploration Inc. and change its trading symbol to "ADDY" on the Canadian Securities Exchange.
The restructuring includes proportional adjustments to outstanding options, warrants, and convertible debentures. The company has also appointed Nancy Chow as Chief Financial Officer, replacing Cindy Cai.
Spearmint Resources (OTC:SPMTF) ha annunciato una significativa ristrutturazione aziendale con effetto dal 30 giugno 2025. La società attuerà un accorpamento azionario 1-per-10, riducendo le azioni in circolazione da 287.828.583 a circa 28.782.858. Inoltre, la società cambierà nome in Adelayde Exploration Inc. e modificherà il suo simbolo di negoziazione in "ADDY" sulla Canadian Securities Exchange.
La ristrutturazione prevede adeguamenti proporzionali per opzioni, warrant e obbligazioni convertibili in circolazione. La società ha inoltre nominato Nancy Chow come Chief Financial Officer, in sostituzione di Cindy Cai.
Spearmint Resources (OTC:SPMTF) ha anunciado una importante reestructuración corporativa con efecto a partir del 30 de junio de 2025. La compañía implementará una consolidación de acciones 1 por 10, reduciendo sus acciones en circulación de 287,828,583 a aproximadamente 28,782,858. Además, la empresa cambiará su nombre a Adelayde Exploration Inc. y modificará su símbolo de cotización a "ADDY" en la Bolsa de Valores de Canadá.
La reestructuración incluye ajustes proporcionales en las opciones, warrants y bonos convertibles en circulación. La compañía también ha nombrado a Nancy Chow como Directora Financiera, reemplazando a Cindy Cai.
Spearmint Resources (OTC:SPMTF)는 2025년 6월 30일부로 중요한 기업 구조조정을 발표했습니다. 회사는 1대 10 주식 병합을 실시하여 발행 주식을 287,828,583주에서 약 28,782,858주로 줄일 예정입니다. 또한 회사명은 Adelayde Exploration Inc.로 변경되며, 캐나다 증권거래소에서 거래 심볼을 "ADDY"로 변경합니다.
구조조정에는 발행된 옵션, 워런트, 전환사채에 대한 비례 조정이 포함됩니다. 또한 회사는 낸시 초우(Nancy Chow)를 최고재무책임자(CFO)로 임명하여 신디 차이(Cindy Cai)를 대체했습니다.
Spearmint Resources (OTC:SPMTF) a annoncé une restructuration importante de l'entreprise effective au 30 juin 2025. La société procédera à une consolidation d'actions au ratio de 1 pour 10, réduisant le nombre d'actions en circulation de 287 828 583 à environ 28 782 858. Par ailleurs, la société changera de nom pour Adelayde Exploration Inc. et modifiera son symbole boursier en "ADDY" sur la Bourse des valeurs canadienne.
La restructuration comprend des ajustements proportionnels des options, bons de souscription et obligations convertibles en circulation. La société a également nommé Nancy Chow au poste de directrice financière, en remplacement de Cindy Cai.
Spearmint Resources (OTC:SPMTF) hat eine bedeutende Unternehmensrestrukturierung mit Wirkung zum 30. Juni 2025 angekündigt. Das Unternehmen wird eine Aktienzusammenlegung im Verhältnis 1 zu 10 durchführen, wodurch die ausstehenden Aktien von 287.828.583 auf etwa 28.782.858 reduziert werden. Zudem wird der Firmenname in Adelayde Exploration Inc. geändert und das Handelssymbol an der Canadian Securities Exchange auf "ADDY" geändert.
Die Restrukturierung beinhaltet proportionale Anpassungen der ausstehenden Optionen, Warrants und Wandelanleihen. Das Unternehmen hat außerdem Nancy Chow als Chief Financial Officer ernannt und ersetzt damit Cindy Cai.
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Vancouver, British Columbia--(Newsfile Corp. - June 24, 2025) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5), (the "Company" or "Spearmint") announces that, further to the Company's news release dated May 27, 2025, the consolidation of the Company's issued and outstanding common shares (the "Shares") on the basis of one new Share (a "Post-consolidated Share") for every ten currently outstanding Shares (the "Consolidation") will be effective at the opening of the market on June 30, 2025. The Company also announces it will change its name to "Adelayde Exploration Inc." (the "Name Change") and change its trading symbol on the Canadian Securities Exchange (the "Exchange") to "ADDY" (the "Symbol Change") in connection with the Consolidation. Pursuant to the provisions of the Business Corporations Act (BC) and the articles of the Company, the Consolidation, the Name Change and the Symbol Change were approved by way of resolution passed by the board of directors of the Company.
Effective June 30, 2025, the Shares of the Company will commence trading under the new trading symbol "ADDY" on the Exchange. The Company's name will change to Adelayde Exploration Inc. following the Consolidation. The new CUSIP number will be 006813109 and the new ISIN will be CA0068131097 for the Post-consolidated Shares. The Company currently has 287,828,583 common shares issued and outstanding, and after the Consolidation is effective there will be approximately 28,782,858 common shares issued and outstanding.
No fractional Post-consolidated Shares will be issued as a result of the Consolidation. As required under the Business Corporations Act (BC), any fractional Shares remaining after the Consolidation that are less than one half of a Share will be cancelled and any fractional Shares that are at least one half of a Share will be rounded up to one whole Share. Registered shareholders of record as of the effective date who hold physical share certificates will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., with instructions on how to exchange for new share certificates representing Post-consolidated Shares. Beneficial shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own names will not be required to complete a letter of transmittal.
The exercise price and number of Shares of the Company, issuable upon the exercise of outstanding options and warrants and conversion of outstanding convertible debentures, will be proportionally adjusted upon the implementation of the Consolidation in accordance with the terms thereof.
The Company is pleased to announce the appointment of Nancy Chow as Chief Financial Officer, following the resignation of Cindy Cai. The Company thanks Ms. Cai for her contributions to the Company.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Tel: 1604646-6903
www.spearmintresources.ca
info@spearmintresources.ca
"James Nelson"
President
Spearmint Resources Inc.
Forward Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include that the Company intends to consolidate its share capital. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company may not obtain approval for the Consolidation from the Exchange. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256667
FAQ
What is the new share consolidation ratio for Spearmint Resources (SPMTF)?
When will Spearmint Resources (SPMTF) begin trading under its new name and symbol?
How many shares will Spearmint Resources have outstanding after the consolidation?
What happens to fractional shares after Spearmint's share consolidation?
What are the new CUSIP and ISIN numbers for Adelayde Exploration (formerly Spearmint)?
