Vancouver, BC – June 8, 2020 – Fuse Cobalt Inc. (“the Company” or “FUSE”)(TSXV: FUSE, OTCQB: WCTXF, FRA:43W2) announces that further to its news release dated June 3, 2020 whereby the Company announced a 2:1 forward split (“Forward Split”), the Company advises that the record date for the Forward Split is now Thursday, June 11, 2020.
As per TSX Venture Exchange “(Exchange”) policy, the Forward Split is being conducted on a “push-out” basis and therefore Fuse’s CUSIP number will remain the same. The common shares of Fuse will trade on a due bill basis from June 10, 2020 until June 12, 2020, being the effective date for the Forward Split, inclusively. A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as a share split. In this instance, the entitlement is to the additional common shares issuable as a result of the Forward Split. Any trades that are executed on the Exchange during this period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the Forward Split. Fuse’s common shares will commence trading on a split-adjusted basis on June 15, 2020, at which time, the common shares will no longer have entitlement to additional common shares. The due bill redemption date will be June 16, 2020.
Shareholders of the Company do not need to take any action with respect to the Forward Split. The Company’s transfer agent, Odyssey Trust Company, will send registered shareholders a Direct Registration System advice (DRS) representing the additional number of shares to be received as a result of the Forward Split
Following the Forward Split, the Company will have 66,336,566 common shares issued and outstanding. All outstanding stock options and share purchase warrants will be adjusted on the same split ration and the respective exercise prices will be adjusted accordingly.
About Fuse Cobalt Inc. www.fusecobalt.com
Fuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the TSX Venture Exchange. The Company’s focus is on exploration for high value metals required for the manufacturing of batteries.
Ontario Cobalt Properties: Fuse owns a 100% interest its Glencore Bucke Property, situated in Bucke Township, 6 km east-northeast of Cobalt, Ontario, subject to a back-in provision, production royalty and off-take agreement. The Glencore Bucke Property consists of 16.2 hectares and sits along the west boundary of Fuse’s Teledyne Cobalt Project. The Company also owns a 100% interest, subject to a royalty, in the Teledyne Project which consists of 785 hectares of land and is also located near Cobalt, Ontario. The Teledyne Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine, a former producer of both silver and cobalt.
On Behalf of the Board of Directors
Robert Setter, President &CEO
Neither the 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. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.