Indigo Exploration Announces Date for Share Consolidation

Rhea-AI Summary

Indigo Exploration (TSXV: IXI) (OTCQB: IXIXF) has announced a share consolidation scheduled for March 10, 2025. The consolidation will be executed on a 2:1 basis, where two pre-consolidation shares will be converted into one post-consolidation share.

Currently, the company has 66,538,020 common shares outstanding, which will be reduced to approximately 33,269,010 shares after the consolidation. The consolidation will also proportionally adjust the exercise price and number of shares for outstanding options and warrants.

Shareholders will receive rounded-down whole shares, and a letter of transmittal will be mailed to registered holders to exchange their pre-consolidation certificates. The company will maintain its trading symbol IXI on the TSX Venture Exchange, with new CUSIP (45568X304) and ISIN (CA45568X3040) numbers.

Positive

• Share consolidation may help meet minimum share price requirements for exchange listing
• No change in shareholders' proportional ownership in the company

Negative

• Share consolidation reduces total number of outstanding shares by half
• Potential reduction in trading liquidity due to fewer shares in circulation

Vancouver, British Columbia--(Newsfile Corp. - March 5, 2025) - Indigo Exploration Inc. (TSXV: IXI) (OTCQB: IXIXF) (FSE: INEN) (the "Company") announces that the consolidation of the Company's issued and outstanding common shares on the basis of two (2) pre consolidation shares for every one (1) post consolidation share (the "Consolidation") will occur on March 10, 2025 (the "Effective Date").

As of the date of this news release, the Company has 66,538,020 common shares issued and outstanding. Upon completion of the Consolidation, it is expected that there will be approximately 33,269,010 common shares issued and outstanding, not including rounding for any fractional amounts resulting from the Consolidation. The number of post-consolidation common shares to be received by a shareholder will be rounded down to the nearest whole common share.

The exercise price and number of common shares issuable upon the exercise of the Company's outstanding options and warrants will be proportionally adjusted upon completion of the Consolidation in accordance with the terms thereof.

Effective at the opening of trading on the Effective Date, the Company's pre-Consolidation common shares will be delisted from the TSX Venture Exchange and the post Consolidation common shares will commence trading. The Company's trading symbol, IXI, will remain unchanged. The Company's new CUSIP and ISIN are 45568X304 and CA45568X3040, respectively.

A letter of transmittal will be mailed to the registered holders of the Company's common shares as soon as practical after the Effective Date, requesting that those shareholders forward their pre-Consolidation share certificates or Direct Registration ("DRS") along with completed letters of transmittal to the Company's transfer agent, Computershare Investor Services Inc., to be exchanged for DRS advice representing their common shares on a post-Consolidation basis. Shareholders holding shares through brokers, banks or other intermediaries should consult with their broker, bank or other intermediary with respect to their post Consolidation shareholdings.

On Behalf of the Board of Directors,

President and CEO
Paul Cowley: (604) 340-7711
Website: www.indigoexploration.com

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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/243499

FAQ

When will Indigo Exploration (IXIXF) implement its share consolidation?

The share consolidation will take effect on March 10, 2025.

What is the ratio of Indigo Exploration's share consolidation in 2025?

The consolidation ratio is 2:1, meaning two pre-consolidation shares will convert to one post-consolidation share.

How many shares will IXIXF have outstanding after the March 2025 consolidation?

After consolidation, IXIXF will have approximately 33,269,010 common shares outstanding.

What happens to IXIXF stock options and warrants after the consolidation?

The exercise price and number of shares for options and warrants will be proportionally adjusted according to the 2:1 consolidation ratio.

What should IXIXF shareholders do with their existing share certificates?

Registered shareholders will receive a letter of transmittal to exchange their pre-consolidation certificates for post-consolidation DRS advice through Computershare.