Canuc Announces Share Consolidation

Core Viewpoint - Canuc Resources Corporation plans to consolidate its common shares at a ratio of ten pre-consolidation shares for one post-consolidation share, aiming to attract new investors as it transitions to gold production in Ontario [1][7]. Share Consolidation Details - The company currently has 284,531,484 common shares outstanding, which will reduce to approximately 28,453,148 shares post-consolidation, with slight variances expected due to fractional rounding [2]. - The consolidation is authorized by the board of directors based on shareholder approval from a meeting held on December 21, 2018 [2]. Adjustments to Securities - All outstanding warrants, stock options, and other convertible securities will be adjusted to reflect the consolidation, increasing exercise or conversion prices by a factor of 10 and reducing the number of shares issuable by the same factor [3]. Regulatory Approval - The consolidation is subject to final acceptance by the TSX Venture Exchange, with an expected effective date of February 17, 2026 [4]. Shareholder Instructions - Uncertificated shareholders will have their accounts electronically adjusted, while registered shareholders with physical certificates will receive a letter of transmittal to exchange their shares [5][6]. Company Transition and Projects - Canuc is transitioning to a gold producer in Ontario while maintaining 100% ownership of two significant exploration assets: the East Sudbury Project in Ontario and the San Javier Silver-Gold Project in Mexico [7][8]. - The East Sudbury Project spans 19,710 hectares and is near the Sudbury Mining Camp, while the San Javier Project covers 1,052 hectares and shows extensive mineralization [7][8]. Cash Flow Generation - The company generates cash flow from natural gas production at its MidTex Energy Project in Texas, which includes eight producing natural gas wells [9].