Huntsman Announces Proposed Share Consolidation
Vancouver, British Columbia, February 27, 2023 – Huntsman Exploration Inc. (TSXV: HMAN; US: BBBMF) (the “Company” or “Huntsman”) advises that pursuant to a resolution of the Board of Directors of the Company, the Company will consolidate its common shares on a 10 to 1 share basis, such that for every 10 common shares currently held, the holder will receive 1 post-consolidated common share (the “Consolidation”). The Company is proposing the Consolidation to attract future business opportunities.
There are currently 157,247,604 common shares issued and outstanding. Upon completion of the Consolidation, there will be approximately 15,724,760 common shares issued and outstanding. The exact number of post-consolidated shares will vary depending on the treatment of fractional shares, which will occur when each shareholder's holdings in the Company are consolidated. The Company will not issue any fractional common shares as a result of the Consolidation. Instead, all fractional shares resulting from the Consolidation will be rounded down to the nearest whole number.
The Company will not be changing its name or trading symbol with respect to the Consolidation.
The Consolidation is subject to the acceptance of the TSX Venture Exchange.
About Huntsman Exploration Inc.
Huntsman is a mineral exploration company focused on the exploration and development of the Canegrass Nickel Sulphide Project and Western Yilgarn Projects in Western Australia under the Company’s Huntsman Nickel division, and the exploration and development of the Company’s gold project under the Huntsman Gold division, specifically the Baxter Spring historical gold discovery in Nevada.
On Behalf of the Board of Huntsman Exploration Inc.
President and Chief Executive Officer
For more information, please contact 1-855-584-0160 or [email protected]
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.