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Canadian Orebodies changes name to Hemlo Explorers

May 18, 2020

When in Rome, do as the Romans do. Now that Canadian Orebodies Inc. has taken over a promising land package in the Hemlo region of north-western Ontario, the company has changed its name to Hemlo Explorers Inc. effective May 20, 2020.

“In changing our name to Hemlo Explorers Inc., we pay homage to the late Gordon McKinnon, the Company’s founding President and CEO, and his father Don McKinnon, the Company’s inaugural Chairman and co-discoverer of Hemlo. Under this new banner, we will continue to push forward with Gordon’s dream of exploration success in the Hemlo region. We are planning to have our most aggressive field season in recent years and will provide more details in the coming weeks,” said Fraser Laschinger, Chief Financial Officer.

Effective at the start of trading on Wednesday, May 20, 2020, Hemlo Explorers Inc. will commence trading on the TSX Venture Exchange (the “TSXV”) under the new ticker symbol “HMLO”.

The Company also announces today that it will concurrently proceed with a consolidation of its share capital on a three (3) for one (1) basis (the “Consolidation”). Currently, a total of 66,218,450 Common Shares (the “Shares”) are issued and outstanding in the capital of the Company. Accordingly, after giving effect to the Consolidation on the basis of three (3) existing Shares for one (1) new Share, a total of approximately 22,072,816 Common Shares will be issued and outstanding in the capital of the Company. The Company will not issue any fractional post-Consolidation Shares as a result of the Consolidation. Instead, all fractional Shares will be rounded down to the next whole common share. The new CUSIP and ISIN for the common shares are 42366W109 and CA42366W1095, respectively. The Company expects to begin trading on May 20, 2020 on the TSXV on a post-Consolidation basis.

The Consolidation will affect all of the Company’s stock options issued and outstanding. At the time of the Consolidation, the number and exercise price of all stock options will be adjusted to reflect the Consolidation.


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