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Macusani Yellowcake (TSXV:YEL) will be changing its name to Plateau Uranium Inc., with ticker symbol TSXV:PLU, commencing at opening of trading on May 1, 2015. The Company has consolidated its issued and outstanding common shares on the basis of one (1) new common share for every eight (8) existing common shares. The Company also announced the following appointments: Ian Stalker as Chairman of the board of directors, and Engin Özberk as Director.
As quoted in the press release:
The Company has changed its name to Plateau Uranium Inc. (the “Name Change”) and consolidated its issued and outstanding common shares on the basis of one (1) new common share for every eight (8) existing common shares (the “Consolidation”). The Name Change and Consolidation were both overwhelmingly approved by shareholders at the Company’s Annual General Meeting (“AGM”) held on March 5, 2015. The Company’s shares will commence trading on a consolidated basis under the new name, symbol “PLU” and new CUSIP (727638108) and ISIN (CA 7276381083) numbers on the TSX Venture Exchange at opening of trading on Friday, May 1, 2015. As a result of the Consolidation there are now approximately 32,861,359 common shares outstanding (subject to adjustment for fractional shares).
All outstanding warrants and options of the Company will be automatically adjusted, with the number of shares eligible to be acquired on exercise being reduced by dividing that number by 8 and increasing the exercise price of such warrants and options by multiplying the prior exercise price by 8.
The Company’s board and management believe the share consolidation to be necessary and in the best interest of shareholders, as it will improve the re-branded Company’s ability to attract new institutional and retail investors in order to raise the additional capital necessary to advance the Company’s Peru projects.
Click here to read the Macusani Yellowcake (TSXV:YEL,) press release