19:54:37 EST Thu 26 Dec 2024
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Infinity Stone Ventures Corp (2)
Symbol GEMS
Shares Issued 46,606,091
Close 2024-02-08 C$ 0.025
Market Cap C$ 1,165,152
Recent Sedar Documents

Infinity Stone receives CSE OK for Tesla acquisition

2024-02-08 09:07 ET - News Release

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.

© 2024 Canjex Publishing Ltd. All rights reserved.