SHARE CONSOLIDATIONCan someone add a brief comment on what this means for my 350,000 shares which I have purchased @ .03
Effective June 10, 2020 the common shares of the Company will consolidate on the basis of one (1) new share for each seven and one-half shares (7.5) currently outstanding (the “Share Consolidation”). The previously issued and outstanding 192,788,812 common shares will result in 25,705,175 shares being issued and outstanding on a post-consolidated basis before the first tranche closing.
Shareholders who hold their shares through a securities broker or dealer, bank or trust company, will not be required to take any action with respect to the share consolidation. No fractional shares will be issued in connection with the Share Consolidation. The Share Consolidation has been approved by the Company’s board of directors and has received approval from the TSX Venture Exchange.