Indico Resources Announces Effective Date of Share Consolidation

Vancouver, British Columbia--(Newsfile Corp. - January 22, 2025) - Indico Resources Ltd. (TSXV: IDI.H) (the "Company") announces that it will implement the consolidation of its common shares in the capital of the Company (the "Shares") on the basis of ten (10) pre-consolidation Shares for every one (1) post-consolidation Share (the "Consolidation") effective as of January 24, 2025.

The Company name will remain unchanged after the Consolidation. The new CUSIP number will be 455937201 and the new ISIN number will be CA4559372012 for the post-Consolidation Shares.

The total issued and outstanding number of Shares post-Consolidation will be approximately 1,131,490, subject to rounding for fractional Shares.

No fractional Shares will be issued in connection with the Consolidation. In the event a holder of Shares would otherwise be entitled to receive a fractional Share in connection with the Consolidation, the fractional Share will be cancelled if it is less than one-half (1/2) of a Share, and will be changed to one whole Share if that fractional Share is equal to or greater than one-half (1/2) of a Share.

The exercise or conversion price, and the number of Shares issuable under any of the Company's outstanding convertible securities, if any, will be proportionately adjusted upon the effectiveness of the Consolidation.

Registered shareholders who hold physical Share certificates will receive a letter of transmittal requesting that they forward pre-Consolidation Share certificates to the Company's transfer agent, Computershare Investor Services Inc. in exchange for new Share certificates representing Shares on a post-Consolidation basis. Shareholders who hold their Shares through a broker or other intermediary and do not have Shares registered in their own name will not be required to complete a letter of transmittal.

About Indico Resources Ltd.

Indico is a mineral resource exploration company focused on the discovery and exploration of porphyry copper gold deposits. 

On behalf of Indico Resources Ltd.,

Brian KerznerChief Executive Officer

"Neither 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."

Forward-looking Statements: Certain statements in this press release are "forward-looking statements" which reflect the Company's current expectations and projections about future events and financial trends that it believes might affect its financial condition, results of operations, business strategy and financial needs. In some cases, these forward-looking statements can be identified by words or phrases such as "may", "might", "will", "expect", "anticipate", "estimate", "intend", "plan", "indicate", "seek", "believe", "estimates", "predicts" or "likely", or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks, uncertainties, assumptions and other factors, including without limitation, those risks and uncertainties discussed elsewhere in the Company's filings on SEDAR+. Investors should not place undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date hereof and is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238026