Kermode to roll back shares one for 10
2023-09-25 16:42 ET - News Release
Mr. Peter Bell reports
KERMODE ANNOUNCES 10:1 SHARE CONSOLIDATION
Kermode Resources Ltd. will consolidate the company's shares, subject to TSX Venture Exchange approval, on the basis of one postconsolidation common share for every 10 preconsolidation common shares. The company will not be seeking a new name or trading symbol. In accordance with the articles of the company, the consolidation may be approved by the board of directors of the company, and shareholder approval is not required.
The company will issue a future news release announcing the effective date of the consolidation and new Cusip and ISIN numbers.
Currently, there are 215,534,582 common shares issued and outstanding, and after the consolidation, there will be approximately 21,553,458 common shares issued and outstanding. No fractional shares will be issued as a result of the consolidation. Instead, any fractional share interest of 0.5 or higher arising from the consolidation will be rounded up to one whole share, and any fractional share interest of less than 0.5 will be cancelled.
Registered shareholders of the company will receive a letter of transmittal from the company's transfer agent with instructions for exchanging their preconsolidation shares. Shareholders who hold their shares through a broker or other intermediary will not need to complete a letter of transmittal.
About Kermode Resources Ltd.
Kermode is a junior mining company hunting for exploration opportunities around the world.
We seek Safe Harbor.
© 2023 Canjex Publishing Ltd. All rights reserved.