Gungnir Resources holders approve rollback, name change

Gungnir Resources Inc. (GUG) has received shareholder approval to consolidate its common shares on a 20:1 basis and change its name to Three Crowns Critical Metals Inc. The consolidation is expected to reduce the number of issued and outstanding common shares from approximately 131.6 million to approximately 6.6 million. Trading under the new name and ticker symbol (TCCM) on the TSX Venture Exchange is scheduled to commence on July 14, 2026.

The share consolidation ratio dictates one postconsolidation common share for every 20 preconsolidation common shares. Prior to the consolidation, there were 131,629,786 common shares issued and outstanding. Following the consolidation, the company will have approximately 6,581,489 common shares issued and outstanding. No fractional shares will be issued; fractions of 0.5 or greater are rounded up, and fractions less than 0.5 are rounded down.

In addition to the share consolidation, several corporate updates were approved by shareholders. These include the removal of pre-existing company provisions from the notice of articles, the adoption of new articles and deletion of current articles, and the removal of special rights or restrictions attached to common shares. The authorized share capital has been increased from 500 million common shares to an unlimited number of common shares.

Proportionate adjustments have been made to outstanding stock options, and all outstanding convertible securities have been adjusted by the consolidation ratio, with respective exercise prices adjusted accordingly. Registered shareholders will receive a letter of transmittal for surrendering share certificates, while book-entry holders require no action.

The company’s CUSIP is 885933 10 1 and its ISIN is CA 885933 10 1 6.