Vancouver, BC – TheNewswire - August 19, 2025 – KORE Mining Ltd. (TSXV: KORE) (“KORE” or the “Company”) is pleased to announce that the its Board of Directors has approved a consolidation of its issued and outstanding common shares of the Company (the “Common Shares”) on the basis of one (1) new Common Share for every five (5) outstanding Common Shares (the “Consolidation”). The Company believes that the Consolidation will enhance its ability to pursue future financing opportunities. The Consolidation remains subject to the Exchange approval.

 

As of today, the Company has 202,426,357 Common Shares issued and outstanding. After the Consolidation, there will be approximately 40,485,271 Common Shares issued and outstanding (subject to any differences due to rounding). No fractional Common Shares will be issued as a result of the Consolidation. Any fractional share less than one-half of a Common Share will be cancelled, and any fractional share equal to or greater than one-half will be rounded up to the nearest whole share. In calculating such fractional interests, all Common Shares held by a beneficial holder shall be aggregated. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and the number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon the Consolidation.

The Company does not intend to change its current name of “Kore Mining Ltd.” or its current trading symbol of “KORE” in connection with the proposed Consolidation. The effective date and new ISIN assigned post-Consolidation will be announced in a subsequent news release.

In addition, the Company announces that today the proposed non-brokered private placement announced on November 1, 2024, and the proposed shares for debt transactions announced on March 29, 2024 and approved at the Company’s annual general meeting held July 5, 2024, have been cancelled.

About KORE Mining

KORE Mining is focused on responsibly creating value from its portfolio of gold assets in California, USA. The Company is advancing the Imperial project towards development while continuing to explore across both district-scale gold assets.  

Further information on Imperial and KORE can be found on the Company’s website at www.koremining.com or by contacting us as info@koremining.com or by telephone at (888) 407-5450.

 

On behalf of KORE Mining Ltd.

“James Hynes”

Executive Chairman and CEO

(888) 407-5450

 

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.

 

Cautionary Statement Regarding Forward-Looking Information

 

This news release contains forward-looking statements relating to the future operations of the Company and other statements that are not historical facts.  Forward-looking statements are often identified by terms such as "will", "may", "should", "anticipate", "expects", “intends”, “indicates” and similar expressions.  All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the future plans and objectives of the Company are forward-looking statements.

 

Forward‐looking statements in this news release include, but are not limited to, statements with respect to, among others: the timing regarding the resumption of trading of the Common Shares on the Exchange after the reinstatement thereof, and the Consolidation generally. Such forward‐looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business.  In connection with the forward‐looking information contained in this presentation, the Company has made numerous assumptions, including, among others: that the Company will receive all required approvals, including the approval of the Exchange for the Consolidation; that the Company will be able to close the Consolidation as expected; that the Company will be able to complete the Consolidation at all; that the Company will return to trade within the timing provided for under Exchange polices; and other planning assumptions.  While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies.

 

Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward‐looking information.  Known risk factors include, among others: the Common Shares may not resume trading on the Exchange; approval for the Consolidation will not be obtained from the Exchange; investor demand may weaken; the Consolidation will not complete at the time expected, or at all, or on the terms as set out in this news release; the need to obtain additional financing; and uncertainty as to the availability and terms of future financing.

 

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws.  There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.  Accordingly, readers should not place undue reliance on forward-looking information.