United Lithium to Change Name to NordX Metals Corp. and Complete 2 for 1 Share Consolidation
Rhea-AI Summary
United Lithium (OTCQB: ULTHF) will complete a 2-for-1 share consolidation and change its name to NordX Metals Corp.
Outstanding shares will be reduced from 79,469,308 to about 39,734,654. Post-consolidation trading on the CSE under ticker NRDX is expected to begin May 19, 2026, subject to final CSE approval.
Positive
- Share count reduced from 79,469,308 to about 39,734,654
- Shareholder ownership percentages remain effectively unchanged aside from rounding
- No fractional shares; entitlements rounded up to nearest whole share
- All outstanding convertible securities adjusted to maintain economic equivalence
Negative
- None.
News Market Reaction – ULTHF
In the May 13 session, ULTHF declined 6.63%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - United Lithium Corp. (CSE: ULTH) (OTCQB: ULTHF) (FSE: 0UL) ("United Lithium" or the "Company") announces today that the Company will consolidate its issued and outstanding common shares (the "Shares") at a ratio of two (2) pre-consolidation Shares to one (1) post-consolidation share (the "Consolidation"). In connection with the Consolidation, the Company also announces its intention to change its name from "United Lithium Corp." to "NordX Metals Corp." (the "Name Change").
As of the date hereof, the Company has 79,469,308 issued and outstanding Shares. Following completion of the Consolidation, the Company is expected to have approximately 39,734,654 issued and outstanding Shares. The Shares are expected to commence trading on a post-Consolidation basis on the Canadian Securities Exchange ("CSE") under the new name "NordX Metals Corp." and the new ticker symbol "NRDX" effective May 19, 2026, subject to final CSE approval.
No fractional Shares will be issued in connection with the Consolidation. The holdings of any shareholder who would otherwise be entitled to receive a fractional Share as a result of the Consolidation shall be rounded up to the nearest whole number. The Consolidation will not affect any shareholder's percentage ownership in the Company other than by the minimal effect of the aforementioned rounding of fractional Shares, even though such ownership will be represented by a smaller number of Shares. Instead, the Consolidation will reduce proportionately the number of Shares held by all shareholders.
A letter of transmittal will be mailed to registered shareholders providing instructions with respect to surrendering share certificates representing pre-Consolidation Shares in exchange for post-Consolidation Shares issued as a result of the Consolidation. Until surrendered, each certificate representing pre-Consolidation Shares will be deemed to represent the number of post-Consolidation Shares the holder received as a result of the Consolidation. Shareholders who hold their Shares in brokerage accounts or in book-entry form are not required to take any action as they will have their holdings electronically adjusted by the Company's transfer agent or by their brokerage firms, banks, trust or other nominees. In accordance with the Company's Articles, the Consolidation will not require shareholder approval and has been approved by the Company's Board of Directors.
A copy of the letter of transmittal will also be available on the Company's profile on SEDAR+.
The Company's new CUSIP number for the post-Consolidation Shares will be 65557M101 and its new ISIN number is CA65557M1014.
All of the outstanding convertible securities of United Lithium will also be adjusted by the Consolidation ratio and the respective exercise prices of those outstanding securities will be adjusted accordingly.
On Behalf of The Board of Directors,
"Andrew Bowering"
Interim Chief Executive Officer
Telephone: +1-604-428-6128
About United Lithium Corp.
United Lithium is an exploration & development company focused on the global demand for lithium, uranium and rare earth elements. The Company is targeting lithium, uranium and rare earth element projects in politically safe jurisdictions with advanced infrastructure that allows for rapid and cost-effective exploration, development, and potential production opportunities.
The Company's consolidated financial statements and related management's discussion and analysis are available on the Company's website at https://unitedlithium.com or under its profile on SEDAR+ at www.sedarplus.ca.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements relating to: the proposed Consolidation; the proposed Name Change; the anticipated effective date of the Consolidation and Name Change; the receipt of required regulatory and CSE approvals; and the anticipated commencement of trading of the Company's Shares on a consolidated basis under a new name and ticker symbol. Forward-looking statements are generally identified by words such as "expect," "anticipate," "intend," "estimate," "plan," "believe," "may," "will," "should," "could," or similar expressions. Such statements are based on assumptions, estimates and expectations considered reasonable by management as of the date of this news release, but are inherently subject to significant business, economic and competitive uncertainties and risks. Actual results may differ materially from those expressed or implied by forward-looking statements due to risks including, without limitation: the risk that required regulatory or CSE approvals are not obtained in a timely manner or at all; market conditions; fluctuations in commodity prices; risks inherent in mineral exploration and development; and general economic, political and regulatory risks. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to publicly update or revise forward-looking statements or forward-looking information, except as required by applicable securities laws.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release and does not accept 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/297251