Vancouver, British Columbia, Canada – November 9, 2023 – Zinc8 Energy Solutions Inc. (“Zinc8” or the “Company”) (CSE: ZAIR) (OTC: ZAIRF) (FSE: 0E9) announces that further to its news release dated November 2, 2023, it has set November 15, 2023 as the record date for the share consolidation. As announced, the Company intends to consolidate its common shares (each, a “Share”) on the basis for ten (10) pre-consolidation Shares for every one (1) post-consolidation Share (the “Consolidation”).
The Consolidation will become effective at the opening of the market on November 15, 2023. The symbol “ZAIR” will remain the same. The new CUSIP number is 98959U306, and new ISIN number is CA98959U3064.
Currently, a total of 182,823,113 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 18,282,311 Shares, subject to adjustments for rounding, will be issued and outstanding. There is no maximum number of authorized Shares. Computershare Investor Services Inc. will mail out a Letter of Transmittal to the shareholders of record on November 15, 2023 providing instructions on exchanging pre-Consolidation share certificates for post Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their Letter of Transmittal, to Computershare Investor Services Inc. in accordance with the instructions in the Letter of Transmittal.
The Company’s board of directors believes that the share consolidation will provide the company with greater flexibility for the continued development of its business and the growth of the company, including financing arrangements.
The Company also announces that Jason Birmingham has been appointed as Corporate Secretary in addition to his roles as Interim CEO, Interim President and director.
Zinc8 Energy Solutions focuses on developing and commercializing its low-cost, long duration ZESS for utilities, microgrid, and Commercial & Industrial markets. By using the patented ZESS as a standalone or an enabling technology, it allows opportunities for peak demand reduction, time-of-use arbitrage, and participation in both the value stacking programs and the distributed long-duration energy storage space, all in conjunction with the opportunity for a significant reduction in carbon footprint. The long duration (8-100+ hours) ZESS has no fire and explosion risk, has no capacity fade over extensive lifetime, and offers complete charge operational flexibility.
About Zinc8 Energy Solutions Inc. Zinc8 is developing and pursuing commercialization of a dependable low-cost zinc-air battery. This mass storage system offers both environmental and efficiency benefits. Zinc8 strives to meet the growing need for secure and reliable power. To learn more about Zinc8’s technology, please visit: https://ABOUND.energy
Notice Regarding Forward Looking Statements
All statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results or developments that Zinc8 Storage anticipates or expects may or will occur in the future (in whole or in part) should be considered forward-looking statements.
Forward looking statements in this press release include that the Consolidation will be completed as described herein, that the Consolidation will benefit the Company as described herein, that we can continue to develop a dependable low-cost zinc-air battery; that our mass storage system offers both environmental and efficiency benefits; and that we can help meet the needs for secure and reliable power. The Company believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time, but no assurance can be given that these factors, expectations and assumptions will prove to be correct. The forward-looking statements included in this news release are not guarantees of future performance. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: that we will not be able to complete the Consolidation; our Company will be able to continue as a going concern; that our technology fails to work as expected or at all; general economic, market and business conditions; our patents may not provide protection as expected and we may infringe on the patents of others; that Zinc8 may not open a manufacturing facility; and certain other risks detailed from time to time in the Company’s public disclosure documents including the Company’s most recently filed Annual Information Form and Management Discussion and Analysis, copies of which are available on the Company’s SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive and are cautioned not to place undue reliance on these forward-looking statements.
The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligations to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Neither the CSE nor any Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
For more information please contact:
President, CEO Jason Birmingham
For Director Dr. Simon Fan