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Stakeholder Gold Corp. (TSXV:SRC) announced it is proposing a share consolidation, the share consolidation is expected to be undertaken at a 10 for one ratio.
Stakeholder Gold Corp. (TSXV:SRC) announced it is proposing a share consolidation, the share consolidation is expected to be undertaken at a 10 for one ratio.
As quoted from the press release:
he consolidation and also an option for a rights offering are expected to be ratified and approved by shareholders at the upcoming annual general meeting which is scheduled to be held on Dec. 4, 2015, at 11 a.m. at the company’s offices located at 121 Richmond St. West, Suite 402, Toronto, Ont., M5H 2K1. The share consolidation and rights offering will also be subject to exchange approval.
As of the date of this release the company has 69,038,319 common shares outstanding. Subsequent to consolidation on a 10 for one basis, the amount of securities outstanding would be approximately 6,903,831.
Management and the board of Stakeholder are of the belief that a share consolidation will enhance the marketability of the company’s common shares and that a proposed rights offering may be the fairest way to permit existing shareholders to participate further. The share consolidation is expected to facilitate any further financings thereby enabling Stakeholder’s growth strategies to be implemented. The company does not anticipate a name change in conjunction with the consolidation.
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