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NCU - Nevada Copper News Story

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Basic Materials
Small Cap
Market Cap £150.2m
Enterprise Value £342.4m
Revenue £n/a
Position in Universe 579th / 2712

Nevada Copper Announces Effective Date of Share Consolidation

Sat 4th September, 2021 1:05am
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YERINGTON, Nev., Sept. 03, 2021 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX:
NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) announces
implementation of the 10:1 consolidation (the “Share Consolidation”) of
the Company’s common shares (“Common Shares”), which was previously
approved by the Company’s shareholders at the Company’s annual and special
meeting of shareholders held on June 30, 2021 (the “Meeting”). The Toronto
Stock Exchange (the “TSX”) has conditionally approved the Share
Consolidation, subject to the filing of certain customary documents. The Share
Consolidation will become effective on September 17, 2021 and the Common
Shares are expected to commence trading on the TSX on a post-consolidation
basis on or about September 21, 2021.

Following the Share Consolidation, the number of outstanding Common Shares
will be reduced from approximately 1,850,635,602 outstanding Common Shares to
approximately 185,063,560 outstanding Common Shares. The Common Shares will
continue to be listed on the TSX under the symbol “NCU”. Following the
Share Consolidation, the new CUSIP number for the Common Shares will be
64128F703 and the new ISIN for the Common Shares will be CA64128F7039.

No fractional Common Shares will be issued as a result of the Share
Consolidation. Any fractional interest in Common Shares that would otherwise
result from the Share Consolidation will be rounded up to the next whole
Common Share, if the fractional interest is equal to or greater than one-half
of a Common Share, and rounded down to the next whole Common Share if the
fractional interest is less than one-half of a Common Share. In all other
respects, the post-consolidation Common Shares will have the same attributes
as the pre-consolidation Common Shares.

Common Share purchase warrants issued by the Company in connection with the
Company’s July 2020 public offering of units (the “July Warrants”) and
the Company’s January 2021 public offering of units (the “January
Warrants”), respectively, are listed for trading on the TSX. As a result of
the Share Consolidation (i) the July Warrants will be adjusted in accordance
with the terms of the warrant indenture dated July 28, 2020 such that ten July
Warrants will now be exercisable for one post-consolidation Common Share
following the payment of an adjusted exercise price of C$2.00, and (ii) the
January Warrants will be adjusted in accordance with the terms of the warrant
indenture dated January 29, 2021 such that ten January Warrants will now be
exercisable for one post-consolidation Common Share following the payment of
an adjusted exercise price of C$2.20.

The Company’s transfer agent, Computershare Investor Services Inc.
(“Computershare”), will act as the exchange agent for the Share
Consolidation. Letters of transmittal were mailed to registered shareholders
in connection with the Meeting and a copy is available on
Registered shareholders are requested to submit their share certificates, or
DRS advices, as applicable, together with their completed letters of
transmittal, to Computershare. Until surrendered, each share certificate (or
DRS advice) representing pre-consolidation Common Shares will be deemed to
represent the number of whole post-consolidation Common Shares to which the
shareholder is entitled as a result of the Share Consolidation.

Beneficial shareholders who hold their Common Shares through intermediaries
(securities brokers, dealers, banks, financial institutions, etc.) and who
have questions regarding how the Share Consolidation will be processed should
contact their intermediaries.

About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow
copper project. Located in Nevada, USA, Pumpkin Hollow has substantial
reserves and resources including copper, gold and silver. Its two fully
permitted projects include the high-grade underground mine and processing
facility, which is now in the production stage, and a large-scale open pit
project, which is advancing towards feasibility status.

Mike Brown, Interim President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute
forward-looking information within the meaning of applicable Canadian
securities laws. All statements in this news release, other than statements of
historical facts are forward-looking statements. Such forward-looking
statements and forward-looking information specifically include, but are not
limited to, statements that relate to the timing and completion of the Share

Forward-looking statements and information include statements regarding the
expectations and beliefs of management. Often, but not always, forward-looking
statements and forward-looking information can be identified by the use of
words such as “plans”, “expects”, “potential”, “is expected”,
“anticipated”, “is targeted”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or
“believes” or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might” or “will” be taken, occur or be
achieved. Forward-looking statements or information should not be read as
guarantees of future performance and results. They are subject to known and
unknown risks, uncertainties and other factors which may cause the actual
results and events to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements or information.

Such risks and uncertainties include, without limitation, those relating to:
the ability of the Company to complete the ramp-up of its underground mine
(the “Underground Mine”) within the expected cost estimates and timeframe;
requirements for additional capital and no assurance can be given regarding
the availability thereof; the impact of the COVID-19 pandemic on the business
and operations of the Company; the state of financial markets; history of
losses; dilution; adverse events relating to milling operations, construction,
development and ramp-up, including the ability of the Company to address
underground development and process plant issues; failure to obtain extensions
under and amendments to the Company’s amended and restated senior credit
facility with KfW IPEX-Bank; ground conditions; cost overruns relating to
development, construction and ramp-up of the Underground Mine; loss of
material properties; interest rates increase; global economy; limited history
of production; future metals price fluctuations; speculative nature of
exploration activities; periodic interruptions to exploration, development and
mining activities; environmental hazards and liability; industrial accidents;
failure of processing and mining equipment to perform as expected; labor
disputes; supply problems; uncertainty of production and cost estimates; the
interpretation of drill results and the estimation of mineral resources and
reserves; changes in project parameters as plans continue to be refined;
possible variations in ore reserves, grade of mineralization or recovery rates
from management’s expectations and the difference may be material; legal and
regulatory proceedings and community actions; accidents; title matters;
regulatory approvals and restrictions; increased costs and physical risks
relating to climate change, including extreme weather events, and new or
revised regulations relating to climate change; permitting and licensing;
volatility of the market price of the Company’s securities; insurance;
competition; hedging activities; currency fluctuations; loss of key employees;
other risks of the mining industry as well as those risks discussed in the
Company’s Management’s Discussion and Analysis in respect of the year
ended December 31, 2020 and in the section entitled “Risk Factors” in the
Company’s Annual Information Form dated March 18, 2021. Should one or more
of these risks or uncertainties materialize, or should underlying assumptions
prove incorrect, actual results may vary materially from those described in
forward-looking statements and information. The forward-looking information
and statements are stated as of the date hereof. Nevada Copper disclaims any
intent or obligation to update forward-looking statements or information
except as required by law. Readers are referred to the additional information
regarding Nevada Copper’s business contained in Nevada Copper’s reports
filed with the securities regulatory authorities in Canada. Although the
Company has attempted to identify important factors that could cause actual
actions, events, or results to differ materially from those described in
forward-looking statements, there may be other factors that could cause
actions, events or results not to be as anticipated, estimated or intended.
For more information on Nevada Copper and the risks and challenges of its
business, investors should review Nevada Copper’s filings that are available

Nevada Copper provides no assurance that forward-looking statements and
information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements or
information. Accordingly, readers should not place undue reliance on
forward-looking statements or information.


GlobeNewswire, Inc. 2021
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