Cumberland Resources Nickel Corp. Changes Name to Global Defence Metals Corp.

Cumberland Resources Nickel Corp. (formerly Jerico Explorations Inc.) has announced a significant change to its corporate identity, rebranding as Global Defence Metals Corp. This strategic move aligns with the company's focus on defence and technology sectors, as well as its global aspirations. The name change was effective as of December 16, 2022, and the company's new CUSIP is 23078B104, while its new ISIN is CA23078B1040.



The rebranding comes on the heels of a reverse merger transaction between Cumberland Resources Corp. and Jerico Explorations Inc., which was completed on December 20, 2022. As a result of the amalgamation, each holder of a common share of Cumberland Resources Corp. received one Cumberland Resources Nickel Corp. Share in consideration. The leadership team of the combined company includes Binyomin Posen as Chief Executive Officer and Director, Kyle Appleby as Chief Financial Officer, and David Shisel and Erin Wilson as Directors.

Upon completion of the Business Combination, the Resulting Issuer has 65,610,425 Cumberland Shares issued and outstanding on an undiluted basis. Former shareholders of Cumberland Resources Nickel Corp. hold approximately 15.24% of the issued and outstanding shares of the combined company, while former shareholders of Cumberland Resources Corp. hold approximately 84.76%.

The name change to Global Defence Metals Corp. reflects the company's global aspirations and its focus on the defence and technology sectors. This strategic move is expected to enhance the company's branding and market perception, making it more appealing to investors and stakeholders interested in defence and technology applications. The new name also aligns with the company's strategic focus on acquiring, exploring, and developing mineral properties that are prospective for metals used in defence and technology applications.

In conclusion, the name change from Cumberland Resources Nickel Corp. to Global Defence Metals Corp. is a strategic move that enhances the company's branding and market perception, aligning with its global aspirations and focus on defence and technology sectors. This change is expected to attract investors and stakeholders interested in defence and technology applications, positioning the company for growth and success in the global defence and metals sectors.