/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN OR INTO THE UNITED STATES/
TORONTO, March 27, 2025 /CNW/ – Silver Mountain Resources Inc. (TSXV: AGMR) (OTCQB: AGMRF) (BVL: AGMR) (“Silver Mountain” or the “Company“) is pleased to announce that it will implement a consolidation (the “Consolidation“) of its class A common shares in the capital of the Company (the “Shares“) on the basis of fifteen (15) pre-Consolidation Shares for every one (1) post-Consolidation Share. The Consolidation will take effect at market open on or about March 31, 2025.
The Consolidation reduces the number of outstanding Shares from 370,414,877 to approximately 24,694,308. Shareholders’ proportional ownership in the Company remains unchanged following the Consolidation. The exercise or conversion price of warrants, compensation options and options, and the number of Shares issuable thereunder will also be proportionately adjusted upon the completion of the Consolidation. No fractional Shares will be issued as a result of the Consolidation. All fractions of Shares will be rounded down to the nearest whole number. No cash consideration will be paid in respect of fractional Shares.
The Company’s new CUSIP number will be 828042507 and the new ISIN number will be CA8280425072. The Company’s name and trading symbol will remain unchanged.
Registered shareholders who hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company’s transfer agent, Odyssey Trust Company in exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of Canadian securities legislation (collectively, “forward-looking statements”) that relate to Silver Mountain’s current expectations and views of future events. Any statements that express or involve discussions as to expectations, beliefs, plans, objectives, assumptions, or future events or performance (often, but not always, through the use of words or phrases such as “will likely result,” “are expected to, “expects”, “will continue,” “is anticipated,” “anticipates,” “believes,” “estimated,” “intends,” “plans,” “forecast,” “projection,” “strategy,” “objective” and “outlook”) are not historical facts and may be forward-looking statements and may involve estimates, assumptions, and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward-looking statements. No assurance can be given that these expectations will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.