Company Overview - Future Mineral Resources Inc. has changed its name from Sulliden Mining Capital Inc. and will implement a share consolidation of one post-Consolidation Share for every 10 pre-Consolidation Shares effective September 5, 2025 [1][2] - The company currently has 166,875,979 Shares issued and outstanding, which will reduce to approximately 16,687,597 Shares post-Consolidation [2] Share Consolidation Details - No fractional Shares will be issued; any fractional Shares will be disregarded and cancelled without compensation [2] - The exercise or conversion price and the number of Shares issuable under any outstanding convertible securities will be proportionately adjusted upon completion of the Consolidation [2] - Trading of the Company's shares under the new name and ticker "FMR" is expected to commence on or about September 9, 2025, subject to approval from the Toronto Stock Exchange [3] Financial Restructuring - The company has strengthened its balance sheet by entering into four shares for debt agreements, closing on July 29, 2025, with 2227929 Ontario Inc. and three other private companies [4] - An aggregate of 12 million and 24.3 million Shares were issued on a pre-Consolidation basis at a deemed price of approximately $0.05 per share, in payment of approximately $696,234 and $1,242,334 of outstanding indebtedness [5] - The Common Shares issued are subject to a hold period of four months and one day, ending on January 3, 2026 [6] Related Party Transactions - The transaction with 2227929 Ontario Inc., controlled by a director and officer of the company, is classified as a "related party transaction" under Multilateral Instrument 61-101 [7] - The company expects to rely on exemptions from formal valuation and minority shareholder approval requirements for this related party transaction [7] Company Focus - Future Mineral is focused on acquiring and advancing brownfield, development-stage, and early production-stage mining projects across the Americas, Australia, Africa, and Europe [8]
Future Mineral Changes Name, Consolidates Shares, and Closes Shares for Debt Settlements