Scottie Resources Announces Effective Date for Share Consolidation

Scottie Resources Restructures Share Capital with Consolidation

Scottie Resources Corp. (TSXV: SCOT) (OTCQB: SCTSF) is excited to share that a consolidation of their outstanding common shares will take effect soon. This significant step is being implemented with a share consolidation ratio of six pre-consolidation shares for every one post-consolidation share.

The consolidation is set to commence when the market opens, transforming the current structure of 299,819,618 common shares down to approximately 49,970,000 issued and outstanding shares. Such a substantial reduction is a standard approach that companies sometimes take to enhance market perception and improve share viability. In cases where fractional shares are involved, fractions of 0.5 or greater will be rounded up, while those less than 0.5 will be rounded down accordingly. It’s also worth noting that adjustments will be made to all existing warrants and stock options, where their exercise price will be increased by a factor of six.

Understanding the Share Consolidation Process

Share consolidation, often referred to as a reverse stock split, is a strategic decision made by companies to increase the per-share price by reducing the total number of shares outstanding. This approach is usually undertaken to attract institutional investors or improve listing standards on stock exchanges.

Scottie's consolidation strategy is aimed at optimizing their capital structure and reinforcing the confidence of investors as they navigate the evolving market. By significantly reducing the total number of shares, the company aims to enhance the perception of its value and potentially increase the share price, paving the way for future growth opportunities.

About Scottie Resources Corp.

Scottie Resources Corp. owns an impressive 100% interest in the Scottie Gold Mine Property, which features the notable Blueberry Contact Zone and the historically productive Scottie Gold Mine. Additionally, the company holds full ownership of the Georgia Project, home to the high-grade past-producing Georgia River Mine, alongside the Cambria Project properties and the Sulu and Tide North properties.

In total, Scottie Resources claims about 58,500 hectares of mineral claims within the Stewart Mining Camp, situated in one of the world's most resource-rich areas, known as the Golden Triangle. Scottie is diligently focused on expanding the mineral resources surrounding its past-producing mines while advancing high-grade gold targets nearby. Their commitment is firmly oriented towards discovering and developing new resources that can lead to future growth.

Current Developments and Future Outlook

As Scottie Resources continues its operations, the company emphasizes its goal of accelerating exploration efforts. The resources in the Golden Triangle are abundant, and Scottie aims to leverage their strategic position to maximize resource extraction while ensuring sustainable practices. Regular assessments and strategic evaluations are crucial in their approach to mining and resource development.

Furthermore, through ongoing exploration, Scottie intends to refine its targets and focus on areas with promising potentials. Their long-term vision remains rooted in building a robust operational framework that encourages a steady flow of value for their stakeholders.

The Golden Triangle Advantage

The Golden Triangle area is recognized globally for its mineral potential, attracting various mining companies and investors alike. Scottie Resources aims to capitalize on this advantageous geographical positioning. The company’s initiatives are geared toward enhancing its competitive edge by investing in technology, research, and robust environmental standards.

Frequently Asked Questions

What is the effective date of Scottie's share consolidation?

The consolidation will take effect at the market opening on December 3, 2024.

How many shares will Scottie Resources have after the consolidation?

After the consolidation, Scottie Resources will have approximately 49,970,000 common shares outstanding.

What is the purpose of a share consolidation?

Share consolidation aims to increase the market price per share, improve perceptions of the company's stock, and attract institutional investors.

What properties does Scottie Resources own?

Scottie Resources owns the Scottie Gold Mine Property, the Georgia Project, and additional significant mineral claims across the Stewart Mining Camp.

How does Scottie plan to advance its gold targets?

Scottie intends to expand known mineralization and focus on high-grade targets to unveil new resources through systematic exploration.

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