Encanto Potash Corp. Announces Effective Date of Consolidation
Vancouver, BC – September 26, 2023. Encanto Potash Corp. (the “Company” or “Encanto”), (NEX:EPO.H), announces that further to its news release dated September 21, 2023, the Company will implement the previously announced consolidation of its common shares in the capital of the Company (the “Shares”) on the basis of five (5) pre-consolidation Shares for every one (1) post-consolidation Share (the “Consolidation”) effective as of September 29, 2023.
The name of the Company and trading symbol will remain the same after the Consolidation. The new CUSIP number will be 29251N401 and the new ISIN number will be CA29251N4012 for the post-Consolidation Shares.
The Company’s post-Consolidation Shares are expected to begin trading on the NEX board of the TSX Venture Exchange (“NEX”) on September 29, 2023. The total issued and outstanding number of Shares post- Consolidation will be approximately 18,018,380, subject to rounding for fractional Shares.
No fractional Shares will be issued in connection with the Consolidation. In the event a holder of Shares would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the number of Shares to be received by such shareholder will be rounded down to the next whole number if that fractional Share is less than one-half (1/2) of a Share, and will be rounded up to the next whole number if that fractional Share is equal to or greater than one-half (1/2) of a Share.
Registered shareholders that hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company’s transfer agent, Endeavor Trust Corporation for exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.
On behalf of the Board of Directors
NEITHER 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.
Forward‐looking Statement Advisory: This release may contain forward‐looking statements. Forward‐looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward‐looking statements. Forward looking statements or information relates to, among other things, the size, timing and the completion of the Consolidations. These forward‐looking statements are based on management’s current expectations and beliefs but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward‐ looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.