- Victory Battery Metals (CSE:VR) is changing its name and stock symbol to Supreme Critical Metals Inc. (CSE:CRIT)
- The Vancouver-based miner also announced that it intends to proceed with a consolidation of its common shares on the basis of 10 pre-consolidation common shares for one of its post-consolidation common share
- The share consolidation is being proposed to provide the company with greater flexibility in seeking additional financing opportunities and is subject to approval by the Canadian Securities Exchange
- Supreme Critical Metals stock last traded at $0.015 per share
Victory Battery Metals (CSE:VR) is changing its name and stock symbol to Supreme Critical Metals Inc. (CSE:CRIT).
The Vancouver-based miner also announced that it intends to proceed with a consolidation of its common shares on the basis of 10 pre-consolidation common shares for one of its post-consolidation common shares.
The company currently has 47,442,222 common shares issued and outstanding. After the share consolidation, the company will have 4,744,222 common shares issued and outstanding, assuming no other changes to the issued capital.
Additionally, the company plans to consolidate its outstanding options and warrants at a ratio of 10 to 1. This means each consolidated option and warrant will allow the holder to acquire one common share at an exercise price 10 times the original exercise price.
In a news statement, the team explained that the share consolidation is being proposed to provide the company with greater flexibility in seeking additional financing opportunities and is subject to approval by the Canadian Securities Exchange.
Supreme Critical Metals is a mineral exploration company with interests in North America.
Supreme Critical Metals stock (CSE:CRIT) last traded at $0.015 per share, and its share price has fallen nearly 77 per cent since the beginning of the year.
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(Top image: Victory Battery Metals Corp.)