(TheNewswire)
Vancouver, BC - TheNewswire - August 2, 2023 - Recharge Resources Ltd. ("Recharge" or the"Company") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) announces that followingshareholder approval of a consolidation of the common shares of theCompany (the " CommonShares ") at the annual general and specialmeeting of shareholders of the Company held on August 16, 2022, theCompany's issued and outstanding Common Shares will be consolidated onthe basis one (1) post-consolidation CommonShare for two (2) pre-consolidation Common Shares (the " Consolidation ").
As of the date of this news release, the Company has69,321,948 Common Shares issued and outstanding. Followingcompletion of the Consolidation, the Company is expected to haveapproximately 34,660,974 Common Shares issued and outsta nding. The Company's nameand stock symbol will remain the same after the Consolidation but theCompany's CUSIP and ISIN numbers will change.
No fractional Common Shares shall be issued inconnection with the Consolidation. Where the Consolidation wouldotherwise result in a shareholder of the Company being entitled to afractional Common Share, the number of post-Consolidation CommonShares issued to such shareholder shall be rounded up to the nextgreater whole number of Commons Shares if the fractional entitlementis equal to or greater than 0.5 and shall be rounded down to the nextlesser whole number of Common Shares if the fractional entitlement isless than 0.5. In calculating such fractional interests, all CommonShares held by a beneficial holder shall be aggregated.
The Company will issue a further news release notifyingshareholders as to when the effective date of the Consolidation willbe and the date on which the Company's Common Shares will commencetrading on the Canadian Securities Exchange on a consolidatedbasis.
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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