Nickel Creek Platinum Announces Share Consolidation

Rhea-AI Summary

Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) has announced a 1-for-100 share consolidation effective August 19, 2024. This consolidation will reduce the company's outstanding common shares from 508,461,951 to approximately 5,084,617. The consolidation, approved by shareholders on June 25, 2024, aims to adjust the company's share structure. No fractional shares will be issued, with rounding applied for partial shares. Registered shareholders will receive instructions from Computershare Investor Services Inc. for exchanging their share certificates. The company's name and trading symbols will remain unchanged, but new CUSIP and ISIN numbers will be assigned to the post-consolidation shares.

Positive

• Share consolidation may improve stock marketability and investor perception
• Potential to meet minimum share price requirements for continued listing on exchanges

Negative

• Significant reduction in total number of outstanding shares
• Potential for short-term stock price volatility following the consolidation

OAKVILLE, ON, Aug. 15, 2024 /PRNewswire/ - Nickel Creek Platinum Corp. (TSX: NCP) (OTCQB: NCPCF) ("Nickel Creek" or the "Company") announces today that it received approval from the Toronto Stock Exchange (the "TSX") and that its Board of Directors has approved implementation of the consolidation of the issued and outstanding common shares of the Company approved by its shareholders at the annual general and special meeting (the "AGM") held on June 25, 2024, on the basis of one (1) new common share (a "Post-Consolidation Common Share") for every 100 pre-consolidation outstanding common shares (the "Consolidation"), which will become effective on August 19, 2024 (the "Effective Date"). The Company's name and trading symbols will remain unchanged.

Further information on the Consolidation can be found in the management information circular dated May 8, 2024 available under the Company's profile on SEDAR+ at www.sedarplus.ca.

As a result of the Consolidation, the number of outstanding common shares ("Common Shares") of the Company will be reduced from 508,461,951 Common Shares to approximately 5,084,617 Post-Consolidation Common Shares, subject to adjustment for rounding. If a shareholder would otherwise be entitled to receive a fractional Common Share as a result of the Consolidation, (i) in the event that a fractional Common Share issuable to such shareholder is equal to or greater than 0.5 of a Common Share, the number of Post-Consolidation Common Shares issuable to such shareholder shall be rounded up to the nearest whole Common Share and (ii) in the event that a fractional Common Share issuable to such shareholder is less than 0.5 of a Common Share, the number of Post-Consolidation Common Shares issuable to such shareholder shall be rounded down to the nearest whole Common Share and the fractional Common Share shall be cancelled without payment of consideration. No fractional Common Shares will be issued in connection with the Consolidation.

Computershare Investor Services Inc. ("Computershare"), the Company's transfer agent, will act as exchange agent for the Consolidation. Registered shareholders of the Company whose Common Shares are represented by share certificates will receive a letter of transmittal from Computershare in respect of the Consolidation and each such registered shareholder will be required to complete, sign and return it to Computershare. The letter of transmittal will contain instructions on how to surrender the certificates representing the registered shareholder's Common Shares. If a registered shareholder does not receive a letter of transmittal in respect of its Common Shares, sample letters of transmittal will be available under the Company's profile on SEDAR+ at www.sedarplus.ca. Registered shareholders who hold their Common Shares through DRS statements are not required to complete a letter of transmittal.

Non-registered shareholders (i.e., beneficial shareholders) who hold their Common Shares through an intermediary (i.e., a securities dealer, bank or financial institution) should note that the intermediary may have different procedures for processing the Consolidation from those that will be put in place by the Company for registered shareholders. Shareholders who hold their Common Shares through an intermediary who have questions in this regard should contact their intermediary for more information.

On the Effective Date, the Company's new CUSIP number for its Post-Consolidation Shares will be 65389F407 and the new ISIN will be CA65389F4078.

The exercise price and number of Post-Consolidation Shares of the Company issuable upon the exercise of outstanding securities convertible into Post-Consolidation Shares will be proportionally adjusted upon the Effective Date of the Consolidation in accordance with the terms thereof.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum Corp. (TSX: NCP; OTCQB: NCPCF) is a Canadian mining exploration and development company and its flagship asset is its 100%-owned Nickel Shäw Project. The Nickel Shäw Project is a large undeveloped nickel sulphide project with a unique mix of metals including copper, cobalt and platinum group metals, located in the Yukon, Canada, one of the most favourable jurisdictions in the world. The Nickel Shäw Project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska.

The Company is led by a management team with a proven track record of successful discovery, development, financing and operation of large-scale projects. Our vision is to create value for our shareholders by becoming a leading North American nickel, copper, cobalt and PGM producer.

Cautionary Note Regarding Forward-Looking Information

This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this news release, other than information of historical facts, including, without limitation, statements with respect to general future plans including the proposed Consolidation, the proposed consolidation ratio and the anticipated Effective Date, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information.

For more information on the Company and the key assumptions, risks and challenges with respect to the forward-looking information discussed herein, and about our business in general, investors should review the Company's most recently filed annual information form, and other continuous disclosure filings which are available at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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SOURCE Nickel Creek Platinum Corp.

FAQ

What is the share consolidation ratio for Nickel Creek Platinum Corp. (NCPCF)?

Nickel Creek Platinum Corp. (NCPCF) has announced a 1-for-100 share consolidation, meaning every 100 pre-consolidation shares will be combined into 1 post-consolidation share.

When will the share consolidation for Nickel Creek Platinum Corp. (NCPCF) take effect?

The share consolidation for Nickel Creek Platinum Corp. (NCPCF) will become effective on August 19, 2024.

How many shares will Nickel Creek Platinum Corp. (NCPCF) have outstanding after the consolidation?

After the consolidation, Nickel Creek Platinum Corp. (NCPCF) will have approximately 5,084,617 post-consolidation common shares outstanding, reduced from 508,461,951 pre-consolidation shares.

Will Nickel Creek Platinum Corp. (NCPCF) change its name or trading symbols after the consolidation?

No, Nickel Creek Platinum Corp. (NCPCF) will not change its name or trading symbols after the share consolidation.