(TheNewswire)
Vancouver, British Columbia, June 17, 2024 - TheNewswire : InspirationEnergy Corp. (the "Company" or "Inspiration")(CSE: ISP) announces that the Company intends toproceed with a consolidation of the fully paid and issued commonshares of the Company on the basis of one (1) post-consolidationcommon share for each five (5) pre-consolidation common shares issuedand outstanding (the “Consolidation”).
The Company currently has 48,113,645 Common Sharesissued and outstanding. Accordingly, once the consolidation iseffective, the Company will have 9,622,729 Shares issued andoutstanding, assuming there are no other changes in the issued capitalof the Company.
The Company intends to also proceed with consolidatingits outstanding options and warrants on a ratio of ten (5) to one (1),with the result that each consolidated option and warrant will entitlethe holder to acquire one Share at an exercise price of five (5) timesits original exercise price.
The Consolidation is being proposed in order to providethe Company with increased flexibility to seek additional financingopportunities and is subject to the approval of the CanadianSecurities Exchange.(CSE) The Company will not change its name orticker symbol as part of the Consolidation.
About Inspiration Energy Corp.
Inspiration Energy Corp. is engaged in the business of mineralexploration and the acquisition of mineral property assets in Canada.Its objective is to locate and develop properties of merit and toconduct exploration on the Company’s properties. For moreinformation, please refer to the Company's information available onSEDAR+ ( www.sedarplus.ca ).
On Behalf of the Board of Directors
Charles Desjardins
CEO and Director
Phone: 604-808-3156
Email: info@inspiration.energy
Neither the Canadian Stock Exchange nor its RegulationServices Provider accepts responsibility for the adequacy or accuracyof this news release.
FORWARD LOOKING STATEMENTS: This news release containsforward-looking statements, which relate to future events or futureperformance and reflect management’s current expectations andassumptions, including with respect to the Company’s ability orintention to complete the option agreements on the Plateau Propertyand Ledge Property. Such forward-looking statements reflectmanagement’s current beliefs and are based on assumptions made byand information currently available to the Company. Investors arecautioned that these forward-looking statements are neither promisesnor guarantees and are subject to risks and uncertainties that maycause future results to differ materially from those expected. Theseforward-looking statements are made as of the date hereof and, exceptas required under applicable securities legislation, the Company doesnot assume any obligation to update or revise them to reflect newevents or circumstances. All of the forward-looking statements made inthis press release are qualified by these cautionary statements and bythose made in our filings with SEDAR+ in Canada (available at www.sedarplus.ca ).
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