RE:Share ConsolidationI've read many of these hushed consolidation announcements included in Annual Meeting circulars and it is 100% crystal clear from the wording of this one that it will be executed, probably immediately upon being approved at the vote, which 99.9% of the time (<ALWAYS) happens.
They can't get their shhit together with EDC or any of the (dozen?) other projects allegedly in the works, so they piss on our shares instead.
Oh well, another chance to average down coming... take that to the bank.
What's next, free options for all the great f@cking work they've done?!
Hejhog wrote: The Board believes that it may be in the best interests of the Corporation to consolidate the outstanding common shares of the Corporation on a one (1) for-five (5) basis (the “Share Consolidation”) in order to heighten the interest of the financial community in the Corporation, and attract larger institutional investors whose investment guidelines restrict their ability to acquire the Corporation’s common shares at current prices. As at March 1, 2019, an aggregate of 299,376,215 of the Corporation’s common shares were issued and outstanding, 202,984,045 additional common shares were issuable pursuant to the exercise of the Corporation’s outstanding common share purchase warrants and 17,700,011 stock options or other convertible securities, representing an aggregate of 520,060,271 common shares outstanding on a fully-diluted basis.