Northern Lion considers 1:8 share rollback Northern Lion considers 1:8 share rollback
2019-10-17 16:17 MT - News Release
Mr. Luke Norman reports
NORTHERN LION CONTEMPLATES SHARE CONSOLIDATION
Northern Lion Gold Corp. is contemplating a consolidation of its issued and outstanding common shares on a one-for-up-to-eight basis, every eight shares before the consolidation being consolidated into one share after consolidation. The directors of the company believe that the consolidation will assist the company in raising capital and identifying potential acquisitions and/or growth opportunities.
There are currently 8,662,600 common shares of the company outstanding. Assuming a 1:8 consolidation, the company will have approximately 1,082,825 shares outstanding immediately following the consolidation.
The consolidation will be subject to the acceptance of the TSX Venture Exchange and the company anticipates issuing a follow-up news release setting out the definitive consolidation ratio in due course. The company has not yet determined if it will be changing its name in conjunction with the consolidation.
We seek Safe Harbor.
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