Spearmint Proposes Share Consolidation

Rhea-AI Summary

Spearmint Resources Inc. (SPMTF) has announced plans for a 1-for-10 share consolidation, which will reduce its outstanding shares from 287,828,583 to approximately 28,782,858 shares. The company will also implement a name change and trading symbol change, pending approval from the Canadian Securities Exchange (CSE).

The consolidation will proportionally adjust the exercise price and number of shares issuable through outstanding options, warrants, and convertible debentures. The Board believes this move will enhance the company's marketability as an investment and improve its ability to raise necessary funds. No fractional shares will be issued, with fractions less than half being cancelled and those half or greater rounded up to one whole share.

Positive

• Share consolidation could improve stock marketability and trading profile
• Strategic move to enhance ability to raise future funding
• Consolidation may attract institutional investors who have minimum share price requirements

Negative

• Significant reduction in total outstanding shares may impact trading liquidity
• No guarantee of CSE approval for the consolidation and name change
• Potential technical selling pressure post-consolidation

News Market Reaction

+21.36%

1 alert

+21.36% News Effect

On the day this news was published, SPMTF gained 21.36%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Vancouver, British Columbia--(Newsfile Corp. - May 27, 2025) - Spearmint Resources Inc. (CSE: SPMT) (OTC Pink: SPMTF) (FSE: A2AHL5) (the "Company" or "Spearmint") announces that it intends to complete a consolidation of its 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"). The Company also announces it intends to change its name and its trading symbol in connection with the proposed Consolidation.

Completion of the Consolidation, name change and symbol change are subject to approval by the Canadian Securities Exchange (the "CSE"). The effective date of the Consolidation, name change and symbol change will be announced in a subsequent news release.

It is anticipated that the Consolidation will reduce the number of outstanding Shares from 287,828,583 Shares to approximately 28,782,858 Post-consolidated Shares, subject to adjustment for rounding. The Board of Directors of the Company believes that the consolidation of the Shares will both enhance the marketability of the Company as an investment and better position the Company to raise the funds necessary to execute the Company's business plan.

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.

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 proposed Consolidation in accordance with the terms thereof.

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 CSE. 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/253436

FAQ

What is the share consolidation ratio proposed by Spearmint Resources (SPMTF)?

Spearmint Resources has proposed a 1-for-10 share consolidation, meaning shareholders will receive 1 new share for every 10 shares currently held.

How many shares will SPMTF have after the proposed consolidation?

After the proposed consolidation, SPMTF's outstanding shares will reduce from 287,828,583 to approximately 28,782,858 shares.

What happens to fractional shares in SPMTF's consolidation?

Fractional shares less than half will be cancelled, while fractions of half or greater will be rounded up to one whole share.

How will SPMTF's consolidation affect existing options and warrants?

The exercise price and number of shares for outstanding options, warrants, and convertible debentures will be proportionally adjusted according to the consolidation ratio.

Why is Spearmint Resources implementing this share consolidation?

The company aims to enhance its marketability as an investment and better position itself to raise necessary funds for executing its business plan.