TORONTO, July 10, 2026--(BUSINESS WIRE)--Western Metallica Resources Corp. (TSXV: WMS) ("Western Metallica" or the "Company") is pleased to announce that it has completed a share consolidation of its common shares ("Common Shares") on the basis of three (3) pre-consolidation Common Shares for each one (1) post-consolidation Common Share (the "Consolidation") effective as of July 10, 2026 (the "Effective Date"). The Consolidation is intended to optimize its capital structure and enhance the long-term value for the shareholders. Additionally, the Company has completed its previously announced shares-for-debt transaction (the "Shares-for-Debt Transaction"). Pursuant to the shares-for-debt agreement entered into on May 14, 2026 (the "Shares-for-Debt Agreement"), the Company issued an aggregate of 2,466,667 post-Consolidation Common Shares (representing 7,400,000 pre-Consolidation Common Shares) at a deemed price of $0.15 per post-Consolidation Common Share (or $0.05 per pre-Consolidation Common Share).
Consolidation
The new CUSIP number is 95861P300 and the new ISIN number is CA95861P3007. Following the Consolidation and prior to completion of the Shares-for-Debt Transaction, the Company had approximately 2,812,060 Common Shares issued and outstanding. No fractional Common Shares were issued as a result of the Consolidation. Any fractional Common Share resulting from the Consolidation was cancelled.
The Company's registered shareholders hold their common shares in the Direct Registration System ("DRS") and, as such, are not required to submit a letter of transmittal or surrender share certificates. Registered shareholders will automatically receive updated DRS statements from the Company's transfer agent, Endeavor Trust Corporation, reflecting the number of post-consolidated common shares to which they are entitled. Non-registered shareholders holding common shares of the Company through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Company for registered shareholders. If shareholders hold their common shares of the Company through intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.
The Company obtained TSXV final approval for the Consolidation on July 8, 2026 and obtained approval of the Company's shareholders at the annual and special meeting of the Company held on June 25, 2026.