(TheNewswire)
Toronto – TheNewswire - May 17, 2024 - AbraSilver Resource Corp.(TSXV:ABRA ) ; ( OTCQX:ABBRF) ("AbraSilver" or the “Company”) is pleased to announce that it willimplement the consolidation (the "Consolidation") of itscommon shares in the capital of the Company (the “Shares”) on thebasis of five (5) pre-Consolidation Shares for every one (1)post-Consolidation Share. The Consolidation will take effect atmarket open on May 22, 2024.
The Consolidation reduces the number of outstandingCommon Shares from 624,703,913 to approximately 124,940,785.Shareholders’ proportional ownership in the Company remainsunchanged following the Consolidation.
All fractional shares less than one-half (1/2) will becancelled and all fractional shares equal to or greater than one-half(1/2) will be rounded up to one whole Share. The exercise price andnumber of Shares of the Company issuable upon the exercise ofoutstanding stock options, restricted share units and warrants will beproportionately adjusted to reflect the Consolidation in accordancewith the terms of the securities. The Company’s new CUSIP numberwill be 00379L304 and the new ISIN number will be CA00379L3048. TheCompany’s name and trading symbol will remain unchanged.
Registered shareholders who hold physical Sharecertificates will receive a letter of transmittal requesting that theyforward pre-Consolidation Share certificates to the Company’stransfer agent, TSX Trust Company in exchange for new Sharecertificates representing Shares on a post-Consolidation basis.Shareholders who hold their Shares through a broker or otherintermediary and do not have Shares registered in their own name willnot be required to complete a letter of transmittal.
About AbraSilver
AbraSilver is an advanced-stage exploration companyfocused on rapidly advancing its 100%-owned Diablillos silver-goldproject in the mining-friendly Salta province of Argentina. Thecurrent Proven and Probable Mineral Reserve estimate for Diablillosconsists of 42.3 Mt grading 91 g/t Ag and 0.81 g/t Au, containingapproximately 124 Moz silver and 1.1 Moz gold, with significantfurther exploration upside potential. In addition, the Company hasentered into an earn-in option and joint venture agreement with Teckon the La Coipita project, whereby Teck can fund up to US$20 millionin exploration expenditures and make certain other payments to earn upto an 80% interest. AbraSilver is listed on the TSX-V under the symbol“ABRA” and in the U.S. on the OTCQX under the symbol“ABBRF.”
For further information please visit the AbraSilverResource website at www.abrasilver.com , ourLinkedIn page at , and follow us on Twitter at
Alternatively please contact:
John Miniotis, President and CEO
Tel: +1 416-306-8334
Cautionary Statements
This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation. Forward-looking statements are necessarilybased upon a number of estimates and assumptions that, whileconsidered reasonable, are subject to known and unknown risks,uncertainties, and other factors which may cause the actual resultsand future events to differ materially from those expressed or impliedby such forward-looking statements. All statements that address futureplans, activities, events or developments that the Company believes,expects or anticipates will or may occur are forward-lookinginformation. There can be no assurance that such statements willprove to be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly,readers should not place undue reliance on forward-looking statements.When considering this forward-looking information, readers should keepin mind the risk factors and other cautionary statements in theCompany’s disclosure documents filed with the applicable Canadiansecurities regulatory authorities on SEDAR+ at www.sedarplus.ca. Therisk factors and other factors noted in the disclosure documents couldcause actual events or results to differ materially from thosedescribed in any forward-looking information. The Company disclaimsany intention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, except as required by law.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
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