Vancouver, British Columbia--(Newsfile Corp. - October 8, 2025) - Mineral Road Discovery Inc. (CSE: ROAD) (the "Company" or "ROAD") announces that, effective immediately, Mr. Jason Cubitt has resigned from his role as Chief Executive Officer. Mr. Cubitt will continue to serve on the Company's Board of Directors as a non-executive director. The Board extends its appreciation to Mr. Cubitt for his leadership and contributions to the Company.
The Board of Directors is pleased to announce the appointment of Mr. Damien Reynolds as Interim Chief Executive Officer. Mr. Reynolds currently serves as Mineral Road's Executive Chairman.
Mr. Reynolds brings decades of global experience in the resource exploration sector, having been actively involved in all aspects of the industry-from project identification and development to financing and strategic exits. He has played a key role in raising hundreds of millions of dollars in exploration capital and has led or supported ventures across a wide range of commodities and jurisdictions worldwide.
Share Consolidation
Mineral Road announces, subject to the approval of the Canadian Securities Exchange ("CSE"), that it will be undertaking a consolidation (the "Consolidation") of its issued and outstanding Common Shares on the basis of three (3) pre-Consolidation, existing, Common Shares for one (1) post-Consolidation Common Share. The Company expects that the Consolidation will enhance the marketability of the Common Shares.
The Company currently has 95,999,665 Common Shares issued and outstanding. Following the Consolidation, the Company expects to have 31,999,888 Common Shares issued and outstanding. No fractional Common Shares will be issued, fractions of less than one-half of a Common Share will be cancelled and fractions of at least one-half of a Common Share will be converted to a whole Common Share. Each shareholder's percentage ownership in the Company and proportional voting power remains unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional Common Shares.
Outstanding options, warrants and other rights to acquire Common Shares will likewise be adjusted according to the terms of the Consolidation.
FOR FURTHER INFORMATION, CONTACT:
Damien Reynolds
Interim Chief Executive Officer and Executive Chairperson
Mineral Road Discovery Inc.
Telephone: 778 819 1870
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of accuracy of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/269582
SOURCE: Mineral Road Discovery Inc.
