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GoldON Resources Ltd. (TSXV:GLD) announced board of directors has approved a consolidation of the company’s share capital on the basis of one new common share for every five old shares.

GoldON Resources Ltd. (TSXV:GLD) announced board of directors has approved a consolidation of the company’s share capital on the basis of one new common share for every five old shares.
As quoted in the press release:

The company’s present issued and outstanding capital of 33,921,870 common shares will be reduced to approximately 6,784,374 common shares. The company’s name and trading symbol will remain unchanged.
The proposed consolidation is to facilitate future equity financings and acquisitions. No fractional shares will be issued pursuant to the consolidation. Any fractional shares will be rounded to the nearest whole number of common shares.

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