Northern Vertex Mining Corp. Announces Effective Date for Share Consolidation and Name Change
Northern Vertex Mining Corp. (USOTC: NHVCF) announced significant changes effective September 24, 2021. The company will consolidate its shares on a six-for-one basis and change its name to Elevation Gold Mining Corporation. Following this consolidation, approximately 60,863,620 shares will be outstanding, and the trading symbol will change to ELVT. New CUSIP numbers for the shares and warrants have been assigned. Registered shareholders will receive instructions for exchanging their old shares for new ones.
- Share consolidation may enhance stock value by reducing outstanding shares.
- Name change to Elevation Gold Mining Corporation aligns with strategic focus.
- Approval by TSX Venture Exchange indicates regulatory compliance.
- None.
VANCOUVER, BC, Sept. 21, 2021 /PRNewswire/ - Northern Vertex Mining Corp. (TSXV: NEE) (USOTC: NHVCF) (the "Company" or "Northern Vertex") wishes to announce that effective on Friday, September 24, 2021 (the "Effective Date"), it will implement the previously announced consolidation of its common shares on a six (6) for one (1) basis (the "Consolidation") and will change its name from "Northern Vertex Mining Corp." to "Elevation Gold Mining Corporation" (the "Name Change"), as previously disclosed in the Company's news release dated September 8, 2021. The Company has received approval of the Consolidation and the Name Change from the TSX Venture Exchange (the "Exchange").
The common shares of the Company are scheduled to begin trading on the Exchange on a post-Consolidation basis at the open of markets on September 24, 2021 under the stock symbol "ELVT". Following the Consolidation, the Company will have approximately 60,863,620 post-Consolidation common shares issued and outstanding prior to rounding for fractional shares. The new CUSIP and ISIN numbers for the post-Consolidation common shares will be 28623W107 and CA28623W1077, respectively. The new CUSIP and ISIN numbers for the common share purchase warrants of the Company expiring on January 14, 2023 which were issued pursuant to a warrant indenture dated February 12, 2021 between the Company and Computershare Trust Company of Canada and are listed on the Exchange will be 28623W115 and CA28623W1150, respectively.
Registered shareholders holding share certificates of Northern Vertex will be mailed a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc. ("Computershare"), as soon as practicable after the Effective Date advising of the Consolidation and the Name Change and instructing them to surrender their share certificates representing pre-Consolidation common shares of Northern Vertex for a direct registration advice (DRS) representing their post-Consolidation common shares of Elevation Gold Mining Corporation. Following the Effective Date, Computershare will automatically mail new DRS statements representing post-Consolidation common shares of Elevation Gold Mining Corporation to registered shareholders currently holding their Northern Vertex common shares by DRS statements. Non-registered shareholders holding common shares through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Company for registered shareholders. If shareholders hold their common shares through intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.
About Northern Vertex Mining Corp.
Northern Vertex offers investors a rare combination of cash flow, production, top-tier management, and exceptional exploration potential within two projects on the Walker Lane Gold Trend of western Nevada and Arizona. Management is executing a clear strategy that expands production and resources at the Moss Mine in Arizona while aggressively exploring the Hercules Project in Nevada.
ON BEHALF OF THE BOARD OF NORTHERN VERTEX MINING CORP
"Michael G. Allen"
President
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.
Cautionary Statement Regarding Forward-Looking Information
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, are forward-looking statements, including, but not limited to statements regarding the completion of the Consolidation and the Name Change. Although Northern Vertex believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since Northern Vertex can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in Northern Vertex's periodic filings with Canadian securities regulators. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Northern Vertex's expectations include risks associated with the business of Northern Vertex; risks related to reliance on technical information provided by Northern Vertex; risks related to exploration and potential development of Northern Vertex's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Northern Vertex's filings with Canadian securities regulators on SEDAR (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Northern Vertex does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
View original content to download multimedia:https://www.prnewswire.com/news-releases/northern-vertex-mining-corp-announces-effective-date-for-share-consolidation-and-name-change-301381970.html
SOURCE Northern Vertex Mining Corp.
FAQ
What is the effective date for Northern Vertex Mining Corp's share consolidation?
What new name will Northern Vertex Mining Corp. use after the name change?
What will be the new trading symbol for Northern Vertex Mining Corp. after the consolidation?
How many shares will Northern Vertex have post-consolidation?
What should registered shareholders expect after the consolidation?
