(Not for distribution to United States newswire services or for dissemination in the United States of America)
June 26, 2025 (TSX Venture Exchange: TES) – Tesoro Minerals Corp., (“Tesoro” or the “Company”) is pleased to announce that it has received approval of shareholders (“Shareholders”) of the Company at its Annual and Special General Meeting held on Tuesday, June 24, 2025 of the previously announced consolidation of the issued and outstanding common shares (“Common Shares”) of the Company at a ratio of four (4) pre-consolidation Common Shares for one (1) post-consolidation Common Shares (the “Consolidation”). The Consolidation is subject to approval TSX Venture Exchange (the “Exchange”). Upon approval of the Exchange, the Common Shares of the Company will trade on a consolidated basis commencing at market open on June 30, 2025 under Exchange symbol “TES” (CUSIP: 88160V201; ISIN: CA88160V2012).
The Consolidation will increase the Company’s flexibility and competitiveness in the market, and will make the Company’s securities more attractive to a wider audience of potential investors.
As a result of the Consolidation, the Company’s currently issued and outstanding 131,627,549 Common Shares will be reduced to approximately 32,906,887 Common Shares, not taking into account any adjustments for rounding. No fractional Common Shares will be issued as a result of the Consolidation. Instead, any fractional Common Share will be rounded down to the nearest whole number of Common Shares and no cash consideration will be paid in respect of fractional Common Shares.
In addition, the exercise price and number of Common Shares of the Company issuable upon the exercise of outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation.
The Company is not changing its name or its stock trading symbol in connection with the Consolidation and will continue to trade on the Exchange under the stock symbol “TES”. A letter of transmittal will be sent by mail to registered shareholders holding physical certificates representing their holdings advising them that the Consolidation has taken effect and instructing them to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate formerly representing Common Shares will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.
About Tesoro
The Company has assembled a team of experienced geoscientists with extensive exploration experience in the Americas with the aim of acquiring further assets.
For further information on the Company please contact Scott McLean, Interim President & CEO at
On Behalf of the Board of Directors
“Scott McLean” Scott McLean
Interim President & CEO
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.
