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Scottie Resources Announces Effective Date of Share Consolidation

Scottie Resources Corp., a notable player in the mining sector, is set to undergo a pivotal restructuring of its common shares. The company has officially announced that the consolidation will take effect at the market opening on December 3, 2024. This move, originally communicated to stakeholders in previous updates, involves a consolidation ratio of one post-consolidation share for every six pre-consolidation shares.

As of now, the company boasts a total of 299,819,618 common shares that will be transformed into approximately 49,970,000 shares after the consolidation is executed. This significant adjustment is designed to streamline the company’s capital structure and enhance the attractiveness of its shares for potential investors.

In the realm of share consolidation, any fractional shares resulting from this transformation will be adjusted accordingly. Shares amounting to 0.5 or more will be rounded up, while those under 0.5 will be rounded down to the nearest whole number. Such adjustments are customary in consolidation scenarios and may lead to slight variations in the final shares issued. Additionally, all existing warrants and incentive stock options associated with Scottie Resources will see their exercise prices adjusted correspondingly, multiplying the previous prices by six while the number of shares acquired upon exercise will decrease by the same divisor.

About Scottie Resources Corp.

Scottie Resources Corp. has carved a niche for itself in the mining industry by owning a 100% stake in several valuable properties, most notably the Scottie Gold Mine Property. This includes the Blueberry Contact Zone and the well-known Scottie Gold Mine, which has a history of high-grade production. The company is also invested in the Georgia Project, which encompasses the former-producing Georgia River Mine, alongside other projects like the Cambria Project and various properties in the Stewart Mining Camp, nestled within the renowned Golden Triangle of British Columbia.

Scottie’s primary goal hinges on the exploration and expansion of mining opportunities around these historically significant sites. The company aims to upscale known mineralization while advancing high-grade exploration targets in proximity to its existing drilling sites. This is pivotal as the focus is not solely on immediate production but on sustainably building potential long-term resources.

The Golden Triangle region of British Columbia is lauded for its mineral wealth, consistently ranking as one of the world’s most prolific mining districts. Thus, Scottie Resources is strategically positioned to harness this mineral-rich environment, potentially enriching its shareholders through future endeavors.

Looking Ahead

As Scottie Resources moves forward with this consolidation, management emphasizes their commitment to transparency and diligence. They recognize that while the consolidation is a significant step in optimizing their share structure, it does not dictate the performance of the company or its properties' potential.

Scottie Resources underscores that future statements regarding growth and exploration are forward-looking. However, these projections are based on current knowledge and management’s best estimates, emphasizing the unpredictable nature of exploration and investment in the mining sector.

As the company prepares for its next phase, including renewed focus on existing properties and potential new opportunities, the eyes of investors will undoubtedly be watching closely. The consolidation represents a strategic maneuver aimed at setting the stage for a robust future, making the company’s developments a significant point of interest within the mining and investment community.

In practice, this move may enhance market perception, positioning Scottie Resources as a more formidable contender in the competitive landscape of resource extraction. As the consolidation date approaches, stakeholders will anticipate Scottie's strategic actions and any resulting impacts on share performance and overall company direction.