Lucky Minerals Inc V.LKY

SHARE CONSOLIDATION

[Buckmaster1]

Can 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.

[Au2020Ak]

350,000/7.5=46,666

[Buckmaster1]

thanks, sorry for needing more explanation but what really does this mean, i have $10,500 invested in 350,000 shares. Is what is happening good or bad for me? when will this change take effect, tomorrow the change will show. so my 350000 shares will turn into 46666,? worth how much per share?

[mmayer]

They will be worth whatever the closing price is multiplied by 7.5. So if it closes @ 0.03 they will be worth 22.5 cents.

[Buckmaster1]

Thx

[MetalisMoney]

neither good nor bad for you. You have the same $10,500 amount worth of shares. Usually a stock split isn't a bad thing then you have more shares and they are worth less, and sometimes attracts investors. Do it too often and it is not good. But a reverse stock split is usually not a good thing. . I think anyway. When did this stock consolidation happen anyway? I just bought a small position