- Spearmint Resources (OTC: SPMTF) will undergo a 1-for-10 share consolidation effective June 30, 2025.
- The company's name will change to Adelayde Exploration Inc. with a new trading symbol "ADDY" on the Canadian Securities Exchange.
- Nancy Chow appointed as Chief Financial Officer, succeeding Cindy Cai.
Spearmint Resources (OTC: SPMTF) has announced a significant corporate restructuring set to take effect on June 30, 2025. The company will execute a 1-for-10 share consolidation that will reduce its outstanding shares from 287,828,583 to approximately 28,782,858. This move aims to streamline the company's share structure and potentially improve share value.
In line with the restructuring, Spearmint Resources will change its name to Adelayde Exploration Inc. and will trade under the new symbol "ADDY" on the Canadian Securities Exchange. The transition to Adelayde Exploration Inc. marks a pivotal rebranding effort for the company.
The consolidation also entails proportional adjustments to outstanding options, warrants, and convertible debentures to align with the new share structure. Shareholders with fractional shares will see those less than one-half cancelled, while those one-half or greater will be rounded up.
Nancy Chow has been appointed as the new Chief Financial Officer, replacing Cindy Cai, who has resigned. The company expressed gratitude to Ms. Cai for her contributions.
The new CUSIP number for Adelayde Exploration Inc. will be 006813109, and the new ISIN will be CA0068131097. Shareholders will receive further instructions from the company's transfer agent, Computershare Investor Services Inc., on how to exchange old share certificates for new ones.
