Vancouver, British Columbia, July 31, 2025 (GLOBE NEWSWIRE) -- First American Uranium Inc. (CSE: URM) (FSE: IOR) (OTCPK: FAUMF) (the "Company") announces, further to its news release of July 21, 2025 and effective August 6, 2025, the Company will consolidate the common shares in the capital of the Company (the "Shares") on the basis of one (1) post-consolidated Share for each two (2) pre-consolidated Shares (the "Consolidation"). The Company's name and stock symbol will remain unchanged following the Consolidation. The new CUSIP number will be 31858L309 and the new ISIN number will be CA31858L3092 for post Consolidation Shares.
The Company currently has 12,247,181 Shares and will have approximately 6,123,590 post-consolidation Shares issued and outstanding.
No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded up or down to the nearest whole Share. Any outstanding incentive stock options and, if applicable, warrants of the Company will be adjusted on the same basis (1:2) to reflect the Consolidation, in accordance with their respective terms, with proportionate adjustments to the exercise prices.
The Company's post Consolidation Shares are expected to begin trading on the Canadian Securities Exchange ("CSE") on or about August 6, 2025.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders will be required to send their respective certificates representing the pre-Consolidation Shares along with a properly executed letter of transmittal to the Company's transfer agent, Endeavor Trust Corporation (the "Transfer Agent"), in accordance with the instructions provided in the letter of transmittal. Additional copies of the letter of transmittal can be obtained through the Transfer Agent at 604-559-8880 or by e-mail to admin@endeavortrust.com. All shareholders who submit a duly completed letter of transmittal along with their respective pre-Consolidation Share certificate(s) to the Transfer Agent, will receive a post Consolidation Share certificate or Direct Registration Advice representing the post Consolidation Shares.
About First American Uranium Inc.
First American Uranium Inc. is engaged in the business of mineral exploration and the acquisition of mineral property assets in North America. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration programs on the Silver Lake and Red Basin properties. The Silver Lake property is situated around Goosly Lake and approximately 30 km southeast of the town of Houston, in the Omineca Mining Division, British Columbia.
ON BEHALF OF THE BOARD
"Kelvin Lee"
Kelvin Lee, Chief Financial Officer
For further information, please contact: Telephone: (604) 961-0296
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation. Although the Company believes that such statements are reasonable, it can give no assurance that these expectations will prove to be correct. Forward-looking statements are not historical facts and by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company's management at the time the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that these statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the Canadian Securities Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.
The CSE does not accept responsibility for the adequacy or accuracy of this release.
