Yerington, NV – September 3, 2021 – Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) announces implementation of the 10:1 consolidation (the “Share Consolidation”) of the Company’s common shares (“Common Shares”), which was previously approved by the Company’s shareholders at the Company’s annual and special meeting of shareholders held on June 30, 2021 (the “Meeting”). The Toronto Stock Exchange (the “TSX”) has conditionally approved the Share Consolidation, subject to the filing of certain customary documents.
The Share Consolidation will become effective on September 17, 2021 and the Common Shares are expected to commence trading on the TSX on a post-consolidation basis on or about September 21, 2021.
Following the Share Consolidation, the number of outstanding Common Shares will be reduced from approximately 1,850,635,602 outstanding Common Shares to approximately 185,063,560 outstanding Common Shares. The Common Shares will continue to be listed on the TSX under the symbol “NCU”.
Following the Share Consolidation, the new CUSIP number for the Common Shares will be 64128F703 and the new ISIN for the Common Shares will be CA64128F7039.
No fractional Common Shares will be issued as a result of the Share Consolidation. Any fractional interest in Common Shares that would otherwise result from the Share Consolidation will be rounded up to the next whole Common Share, if the fractional interest is equal to or greater than one-half of a Common Share, and rounded down to the next whole Common Share if the fractional interest is less than one-half of a Common Share. In all other respects, the post-consolidation Common Shares will have the same attributes as the pre-consolidation Common Shares.
Common Share purchase warrantsissued by the Company in connection with the Company’s July 2020 public offering of units (the “July Warrants”) and the Company’s January 2021 public offering of units (the “January Warrants”), respectively, are listed for trading on the TSX. As a result of the Share Consolidation (i) the July Warrants will be adjusted in accordance with the terms of the warrant indenture dated July 28, 2020 such that ten July Warrants will now be exercisable for one postconsolidation Common Share following the payment of an adjusted exercise price of C$2.00, and (ii) the January Warrants will be adjusted in accordance with the terms of the warrant indenture dated January 29, 2021 such that ten January Warrants will now be exercisable for one post-consolidation Common Share following the payment of an adjusted exercise price of C$2.20.
The Company’s transfer agent, Computershare Investor Services Inc. (“Computershare”), will act as the exchange agent for the Share Consolidation. Letters of transmittal were mailed to registered shareholders in connection with the Meeting and a copy is available on www.sedar.com. Registered shareholders are requested to submit their share certificates, or DRS advices, as applicable, together with their completed letters of transmittal, to Computershare. Until surrendered, each share certificate (or DRS advice) representing pre-consolidation Common Shares will be deemed to represent the number of whole post-consolidation Common Shares to which the shareholder is entitled as a result of the Share Consolidation.
Beneficial shareholders who hold their Common Shares through intermediaries (securities brokers, dealers, banks, financial institutions, etc.) and who have questions regarding how the Share Consolidation will be processed should contact their intermediaries.
NEVADA COPPER CORP.
Mike Brown, Interim President and CEO