(TheNewswire)
VANCOUVER, BC - TheNewswire – August 6 , 2021 - Kenadyr Mining(Holdings) Corp. (TSXV:KEN) (the “ Company ”) or“ Kenadyr ”) announces that effective onTuesday, August 10, 2021, it will implement the previously announcedshare consolidation of its common shares on a ten (10) for one (1)basis (the “ ShareConsolidation ”) and will change itsname from “Kenadyr Mining (Holdings) Corp.” to “Kenadyr MetalsCorp.” (the “ NameChange ”) . The Company has received approvalof the Name Change and Share Consolidation from the TSX VentureExchange (the “ TSXV ”).
Following the Name Change and Share Consolidation, thecommon shares are scheduled to begin trading on a post-consolidationbasis at market open on August 10, 2021 under the stock symbol“KEN”. The new CUSIP number will be 48850D101 and the new ISINnumber will be CA48850D1015. Following the ShareConsolidation, the Company will have approximately 11,803,955 commonshares issued and outstanding.
A letter of transmittal will be sent by mail toregistered shareholders advising that the Share Consolidation and NameChange have taken effect. The letter of transmittal will containinstructions on how registered shareholders can exchange their sharecertificates or DRS statements evidencing their pre-consolidatedcommon shares for new share certificates or new DRS statementsrepresenting the number of post-consolidated common shares to whichthey are entitled. No action is required by non-registeredshareholders (shareholders who hold their shares through anintermediary) to effect the Share Consolidation and Name Change.
No fractional common shares will be issued upon theShare Consolidation. In the event a holder of common shares wouldotherwise be entitled to receive a fractional common share inconnection with the Share Consolidation, the number of common sharesto be received by such shareholder will be rounded down to the nextwhole number if that fractional common share is less than one half(1/2) of a common share, and will be rounded up to the next wholenumber of common shares if that fractional common share is equal to orgreater than one half (1/2) of a common share.
The exercise or conversion price of, and the number ofcommon shares issuable under, any convertible securities of theCompany will be proportionately adjusted upon the completion of theShare Consolidation.
About Kenadyr
Kenadyr is currently listed on the TSX VenturesExchange and its primary business is mineral exploration in the KyrgyzRepublic, specifically gold exploration in Borubai. Kenadyr holds allissued and outstanding securities in PIC Ala-Too, a Kyrgyz Republiccompany registered in Bishkek, which is the 100% legal and beneficialholder of an exploration license related to Kenadyr’s BorubaiProject.
ON BEHALF OF KENADYR MINING(HOLDINGS) CORP.
Tim McCutcheon
Chief Executive Officer
For more information, visit www.kenadyr.com or contactTim McCutcheon, CEO at info@kenadyr.com or (604) 638 3311.
Neither the TSXVenture Exchange nor its regulation services provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary Note RegardingForward-Looking Statements
This news release contains forward-looking statements.All statements other than statements of historical fact included inthis release, including, without limitation, statements regarding thecompletion of the Share Consolidation and the Name Change, areforward-looking statements that involve risks and uncertainties. Therecan be no assurance that such statements will prove to be accurate andactual results and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Corporation'sexpectations including the risks detailed from time to time in thefilings made by the Corporation with securities regulations. Thereader is cautioned not to place undue reliance on any forward-lookinginformation. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Corporation will update orrevise publicly any of the included forward-looking statements asexpressly required by Canadian securities law.
Copyright (c) 2021 TheNewswire - All rights reserved.