(TheNewswire)
VANCOUVER, BC – TheNewswire- August 16, 2023 - Recharge Resources Ltd.("Recharge" or the "Company") (CSE:RR) (OTC:RECHF) (Frankfurt:SL5) announces that further to the Company's news release dated August 2, 2023,the Company will consolidate its common shares (the " Shares ") on thebasis of two (2) pre-consolidation Shares for one (1)post-consolidation Share of the Company (the " Consolidation ").
Effective at the opening on Friday, August 18, 2023,the Shares of the Company will commence trading on the CanadianSecurities Exchange on a Consolidation basis. The name of theCompany and trading symbol will remain the same after theConsolidation. The new CUSIP number will be 756230306 and the newISIN number will be CA7562303064 for post Consolidation.
The Consolidation will result in the number of issuedand outstanding Shares being reduced from 69,846,948 to 34,923,474 Shares. Nofractional Shares will be issued pursuant to the Consolidation. Each fractional Share remaining after theConsolidation that is less than 0.5 of one Share will be rounded downto the next whole number and each fractional Share that is 0.5 orgreater will be rounded up to the next whole Share.
A letter of transmittal will be mailed to registeredshareholders by the Company’s transfer agent, Endeavor TrustCorporation once the Consolidation has taken effect. The letter oftransmittal contains instructions on how registered shareholders canexchange their share certificates evidencing their pre-consolidationsh ares for newshare certificates representing the number of post-consolidationshares to which they are entitled. Beneficial shareholders holdingtheir shares through a brokerage may be subject to differentprocedures for obtaining their post-consolidation shares. Ifshareholders have any questions in this regard, they are encouraged tocontact their respective brokerage or intermediary.
About Recharge Resources
Recharge Resources is a Canadian mineral explorationcompany focused on exploring and developing the production ofhigh-value battery metals to create green, renewable energy to meetthe demands of the advancing electric vehicle and fuel cell vehiclemarket.
All Stakeholders are encouraged to follow the Companyon its social media profiles on , , and Instagram .
On Behalf of the Board of Directors,
“David Greenway”
David Greenway, CEO
For further information, pleasecontact:
Recharge Resources Ltd.
Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com
Neither the Canadian Securities Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the CSE) accepts responsibility for the adequacy or accuracy ofthis release.
Disclaimer for Forward-LookingInformation
Certain statements in this releaseare forward-looking statements, which reflect the expectations ofmanagement regarding Recharge’s intention to continue to identifypotential transactions and make certain corporate changes andapplications. Forward looking statements consist of statements thatare not purely historical, including any statements regarding beliefs,plans, expectations or intentions regarding the future. Suchstatements are subject to risks and uncertainties that may causeactual results, performance or developments to differ materially fromthose contained in the statements. No assurance can be given that anyof the events anticipated by the forward-looking statements will occuror, if they do occur, what benefits Recharge will obtain from them.These forward-looking statements reflect managements’ current viewsand are based on certain expectations, estimates and assumptions whichmay prove to be incorrect. A number of risks and uncertainties couldcause actual results to differ materially from those expressed orimplied by the forward-looking statements, including Recharge’sresults of exploration or review of properties that Recharge doesacquire. These forward-looking statements are made as of the date ofthis news release and Recharge assumes no obligation to update theseforward-looking statements, or to update the reasons why actualresults differed from those projected in the forward-lookingstatements, except in accordance with applicable securitieslaws.
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