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Millrock Resources Announces Effective Date of Name Change to Alaska Energy Metals
VANCOUVER, British Columbia, March 21, 2023 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to a
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, March 21, 2023 (GLOBE NEWSWIRE) -- Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to announce that it has received approval from the TSX Venture Exchange to change the Company’s name to “Alaska Energy Metals Corporation” (the “Name Change”) and to consolidate the Company’s outstanding common shares on the basis of one new common share for every ten common shares (the “Consolidation”). The Name Change and Consolidation will take effect at the start of trading on March 22, 2023, and the Company will trade under the symbol AEMC. Alaska Energy Metals Corporation intends to focus all its efforts on the Nikolai project in central Alaska, a highly prospective polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, and palladium. As a result of the Consolidation, the 156,172,394 common shares issued and outstanding prior to the Consolidation will be reduced to approximately 15,617,239 common shares. Each shareholder’s percentage ownership in the Company and proportionate voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares. In connection with the Consolidation, the Company expects to send letters of transmittal to registered holders of its common shares for use in transmitting their existing share certificates (“Existing Certificates”) to the Company’s registrar and transfer agent, Computershare Trust Company of Canada, in exchange for new certificates (“New Certificates”) representing the number of post-Consolidation common shares to which each shareholder is entitled. No delivery of a New Certificate to a shareholder will be made until the shareholder has surrendered its Existing Certificates. Until surrendered, each Existing Certificate shall be deemed for all purposes to represent the number of post-Consolidation common shares to which the holder is entitled. About Alaska Energy Metals Alaska Energy Metals Corporation will be focused on delineating and developing a large polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, and palladium. Located in development-friendly central Alaska near existing transportation and power infrastructure, the project is well-situated to become a si...