Mr. Glenn Giles reports
8 FOR 1 STOCK SPLIT, APPROVAL TESLA IRON PROJECT
The Canadian Securities Exchange has approved Infinity Stone Ventures Corp.'s
acquisition of the Tesla iron project, see news releases dated Dec.
27, 2023, Jan. 10, 2024, and Jan. 23, 2024, whereby the company
acquires a 100-per-cent interest for 7.5 million shares subject to a 3-per-cent gross
proceeds royalty and a $54-million payment or prepayment on
commencement of commercial production, commercial production
defined in the agreement as the cash
monies received from the first mined material or substance or
substances or mineral or minerals, and subsequent mined substances or
mineral or minerals, from the mineral claims listed in Schedule A, and
any subsequently acquired or added claims within the area of interest
clause above, with the right of the purchaser to prepay the $50-million prior to or in conjunction with commencement of the first
production of material or mineral or minerals or substance or substances
being sold for monies.
Closing is anticipated to occur within 10 business days within
approvals of the management cease trade order that has been granted, with the shares having a
legend of four months plus one day of issuance before becoming free-trading.
The company also will file paperwork to split the company stock on an eight-new-for-one-old basis, payable after market close on Feb. 26 to
shareholders of record on Feb. 23, with trading on a postsplit
basis to commence on Feb. 27, 2024. The issued and outstanding
Class A subordinate voting shares will then total 372,848,728 plus
the approved Tesla iron project agreement stock being an
additional 60 million Class A subordinate voting shares being issued, on
the 8:1 split, amounting to a total of 432,848,728 Class A
subordinate voting shares issued and outstanding as of Feb.
27, 2024.
About Infinity Stone Ventures Corp.
Infinity Stone owns the Tesla iron project located in Quebec, the
Thor manganite occurrence located in Quebec, ground in Ontario
and British Columbia in the area of American Eagle Gold Corp. and
Defense Metals Corp., the Crazy What Love Can Do copper project in
Quebec, three historic silica-producing mines in Quebec, ground
adjacent to Frontier Lithium in Ontario, ground adjacent to Li-FT
Power in Northwest Territories, and ground adjacent to Power Metals in Ontario.
We seek Safe Harbor.
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