Vancouver, British Columbia--(Newsfile Corp. - March 27, 2020) - Dunnedin Ventures Inc. (the "Company" or "Dunnedin") (TSXV: DVI) announces that, following the receipt of all necessary approvals, effective April 1, 2020, the Company's name will be officially changed to Kodiak Copper Corp. ("Kodiak"), and Kodiak's common shares will start trading on the TSX Venture Exchange under the ticker symbol "KDK") on the basis of five (5) pre-consolidation common shares for every one (1) post-consolidation common share (the "Consolidation"). See Dunnedin's news release dated February 13, 2020 for more details on the Company's name change and the Consolidation.
The Company will host a Webinar to launch Kodiak Copper Corp. and discuss plans moving forward. The webinar will take place on Thursday, April 2nd at 11:00am PDT/2:00pm EDT. Management will be available to answer questions following the presentation.
To join webinar by computer, register from this link: https://zoom.us/webinar/register/WN_B9jtRP1pQrOnxQQ6P83X9w
Meeting ID: 615-651-165#
Or to dial-in only use:
|Canada||+1 647 558 0588|
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|UK||+44 203 481 5240|
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The Company currently has 183,273,333 pre-Consolidation common shares issued and outstanding. After giving effect to the Consolidation, the Company will have approximately 36,654,666 post-Consolidation common shares issued and outstanding, subject to the rounding of fractional common shares.
The new CUSIP and ISIN numbers for the post-Consolidation common shares are 50012K106 and CA50012K1066, respectively. Letters of transmittal providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates to be issued in the name of Kodiak Copper Corp. were mailed by Computershare Investor Services Inc. ("Computershare") to the Company's registered shareholders together with the Company's proxy materials for its annual general and special meeting held on March 25, 2020. Registered shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Computershare in accordance with the instructions in the letter of transmittal. Beneficial shareholders holding common shares in the capital of the Company through an intermediary should be aware that the intermediary may have different procedures for processing the Consolidation and are encouraged to contact their respective intermediaries in this regard.
No fractional common shares will be issued as a result of the Consolidation. Where the Consolidation would otherwise result in an entitlement to a fractional common share, the number of post-Consolidation common shares issued will be rounded up to the next greater whole number of common shares if the fractional entitlement is equal to or greater than 0.5 and shall be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5.
The Company's outstanding stock options and warrants will be adjusted on the same basis (5:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
President & CEO
About Dunnedin Ventures Inc.
Dunnedin is focused on its portfolio of 100% owned copper porphyry projects in Canada and the USA. The Company's most advanced asset is the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia, Canada, where the Company made a discovery of high-grade mineralization in 2020. Dunnedin also holds the Mohave copper-molybdenum-silver porphyry project in Arizona, USA, near the world-class Bagdad mine. The Company's Trapper copper-gold porphyry project is located in the northern Golden Triangle region of British Columbia. All three of Dunnedin's porphyry projects have been historically drilled and present known mineral discoveries with the potential to hold large-scale deposits.
The Company also holds the advanced-stage Kahuna diamond project in Nunavut, Canada. Kahuna hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets.
Dunnedin's founder and chairman is Chris Taylor who is well-known for his gold discovery success with Great Bear Resources. Dunnedin is also part of the Discovery Group of Companies led by John Robins, one of the most successful mining entrepreneurs in Canada.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement (Safe Harbor Statement): This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning the planned completion of the effective date of the Consolidation and the change of the Company's name. Although the Company believes that the expectations and assumptions on which the forward looking statements are based are reasonable, undue reliance should not be placed on the forward looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with conditions in the equity financing markets, and assumptions and risks regarding receipt of regulatory and shareholder approvals.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward looking statements, whether as a result of new information, future events or results or otherwise.