RE:Is this right@ hiram_key - No that is incorrect. It's a consolidation and not a split. The outstanding float will be 716M / 15 = 47M. The share price will be .64 X 15 = $9.60. So everything else being equal post consolidation you will have 15 X less shares but they will be worth 15 X more in price.
After the consolidation (if approved by shareholders) management will make an application to list FCU's shares on an American exchange. Right now management cannot do that because American exchanges have a minimun threshold price at which they will list a stock.
The reason for listing on an American excahnge is to open up FCU to a broader investing audience. As the project at PLS advances there will be larger capital investment needs and any deep pocketed American investor will want the option to trade FCU in US dollars on an American exchange rather then introducing CAD / US exchange rate considerations into their investment decision by being restricted to trading solely on the TSX. In short, it removes a barrier for US investment into FCU.