Discovery Harbour Announces Approval of Share Consolidation

Rhea-AI Summary

Discovery Harbour Resources Corp. has received approval from the TSX Venture Exchange for the consolidation of its common shares. The consolidation will be effective on June 6, 2023, with one new share issued for every ten currently-outstanding shares.

Positive

• The consolidation of shares could potentially increase the stock price as it reduces the total number of shares outstanding.

Negative

• There is no information available on how the consolidation will impact the stock price or the company's financials.

Vancouver, British Columbia--(Newsfile Corp. - June 2, 2023) - Discovery Harbour Resources Corp. (TSXV: DHR) (OTC Pink: DCHRF) (FSE: 4GW) (the "Company" or "Discovery Harbour") announces that, further to its news release of May 16, 2023, the TSX Venture Exchange (the "Exchange") has approved the consolidation of the issued and outstanding common shares of the Company (the "Shares") on the basis of one new Share (a "Post-Consolidated Share") for every ten currently-outstanding Shares (the "Consolidation"). The Consolidation will become effective at the opening of the market on June 6, 2023. The Company's symbol shall remain as "DHR". Currently a total of 94,509,294 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 9,450,929 Post-Consolidated Shares, subject to adjustment for rounding, will be issued and outstanding. There is no maximum number of authorized Shares.

The Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), will mail letters of transmittal to the shareholders providing instructions on exchanging Share certificates for Post-Consolidated Share certificates. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal.

About Discovery Harbour Resources Corp.

Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

"Mark Fields"

Mark Fields, B. Sc. (Geology), B.Comm.(Hon.)
President and Chief Executive Officer
Discovery Harbour Resources Corp.
Tel: (604) 681-3170
Fax: (604) 681-3552

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/168460

FAQ

When will the consolidation of shares be effective?

The consolidation of shares will be effective on June 6, 2023.

What is the ratio for the consolidation of shares?

The consolidation will be done on the basis of one new share for every ten currently-outstanding shares.

How many shares will be issued and outstanding after the consolidation?

After the consolidation, a total of 9,450,929 post-consolidated shares will be issued and outstanding.