Special Meeting Over the past few weeks I have been discussing this meeting and the ramifications of a decision.
Someone who I would consider very knowledgable on th inner workings of the company pointed out something to me that has been mentioned by a number of people and referenced in the Pr's. This vote is to give the Board the authority to proceed with certain actions,, but it was emphasized to me that the need for this vote was so that is action had to be taken in the future for a number of reasons, top reason being the company would not be scrabbling to try and get direction from shareholders in a short notice situation.
This person referenced two things in the PR that I was asked to pay attention to. Basically what we are all thinking will happen is just one scenerio, becasue we dont know whats going to happen in the next few months ( envivo data, JV's, new platforms as result of work with alphafold , etc)
From Compnay PR
Meeting Agenda
At the Special Meeting, the shareholders will be asked to consider, and if deemed advisable, pass a special resolution authorizing the Board of Directors (the “Board”) to determine, at its discretion, to file articles of amendment to consolidate the Common Shares of the Company within a range from a ratio of thirty pre-consolidation Common Shares to one post-consolidation Common Share up to a ratio of sixty pre-consolidation Common Shares for one post-consolidated Common Share.
Notwithstanding approval of the resolution by shareholders and the TSX, the Board will retain the discretion to elect not to proceed with the share consolidation.