TORONTO, Jan. 17,
2025 /CNW/ - Silver Mountain Resources Inc.
("Silver Mountain" or the "Company") (TSXV: AGMR) (OTCQB: AGMRF)
announces that it will hold a special meeting of shareholders (the
"Special Meeting") on March 6, 2025.
The Company has set a record date for the Special Meeting of
January 31, 2025.
The purpose of the Special Meeting is to seek authorization from
the Company's shareholders to enable the Board of Directors (the
"Board") to consider a consolidation of all of the Company's issued
and outstanding common shares ("Common Shares") at a ratio of one
(1) post‐consolidation share for up to every one hundred (100)
pre‐consolidation shares (the "Consolidation"). Shareholders will
be requested at the Special Meeting or any adjournment thereof, to
consider and, if thought fit, pass, with or without amendment, a
special resolution approving the Consolidation. Additional details
in respect of any proposed Consolidation will be included in a
management information circular which is being mailed to
shareholders in compliance with applicable laws and will be
available under the Company's profile on SEDAR+
(www.sedarplus.ca).
The Board believes it is in the best interests of the Company to
be in a position to complete the Consolidation to provide the
Company with greater flexibility for future corporate activities,
enhance the marketability of the Common Shares as an investment and
lead to increased interest by a broader spectrum of potential
investors, thereby increasing the Company's ability to secure
additional financing for operational and growth initiatives.
The implementation of any Consolidation is subject to Silver
Mountain receiving all required approvals, including support from
shareholders at the upcoming Special Meeting, and the approval of
the TSX Venture Exchange. If the approvals required for the
Consolidation are obtained and the Board decides to implement the
Consolidation, the Consolidation will occur at a time determined by
the Board and additional information in respect of the
Consolidation will be announced by the Company.
www.agmr.ca
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 Statements
This news release contains forward-looking statements and
forward-looking information within the meaning of Canadian
securities legislation (collectively, "forward-looking statements")
that relate to Silver Mountain's current expectations and views of
future events. Any statements that express or involve discussions
as to expectations, beliefs, plans, objectives, assumptions, or
future events or performance (often, but not always, through the
use of words or phrases such as "will likely result," "are expected
to, "expects", "will continue," "is anticipated," "anticipates,"
"believes," "estimated," "intends," "plans," "forecast,"
"projection," "strategy," "objective" and "outlook") are not
historical facts and may be forward-looking statements and may
involve estimates, assumptions, and uncertainties which could cause
actual results or outcomes to differ materially from those
expressed in such forward-looking statements. Forward-looking
statements in this news release include, but are not limited to,
statements in respect of the implementation of any Consolidation
and the receipt of all required approvals in connection therewith.
No assurance can be given that these expectations will prove to be
correct, and such forward-looking statements included in this news
release should not be unduly relied upon. These statements speak
only as of the date of this news release.
Forward-looking statements are based on a number of assumptions
and are subject to a number of risks and uncertainties, many of
which are beyond Silver Mountain's control, which could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward-looking statements. Such
risks and uncertainties include, but are not limited to, the
factors set forth under "Caution Regarding Forward-Looking
Statements" and "Risk Factors" in the Company's Annual Information
Form dated April 26, 2024, and other
disclosure documents available on the Company's profile on SEDAR+
at www.sedarplus.ca. Silver Mountain undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
may be required by law. New factors emerge from time to time, and
it is not possible for Silver Mountain to predict all of them or
assess the impact of each such factor or the extent to which any
factor, or combination of factors, may cause results to differ
materially from those contained in any forward-looking statement.
Any forward-looking statements contained in this news release are
expressly qualified in their entirety by this cautionary
statement.
SOURCE Silver Mountain Resources Inc.