Element 79 Gold Corp., a Canada-based junior mining exploration company, recently announced the effective date of its share consolidation.
The company is working to increase its capital efficiency by consolidating its common shares on a two-for-one basis. It is expected to reduce the number of issued and outstanding common shares, resulting in a one-time reduction in shareholders’ equity.
Under the share consolidation plan, each two common shares held by shareholders as of the effective date will be consolidated into one common share with no change to the par value of the company’s common shares. The company will also replace its existing stock symbol with a new symbol post consolidation and will produce a new CUSIP number for the new consolidated shares.
The company’s board of directors and management feel that this is a sensible decision for the company’s long-term success. This capital efficiency will enable the company to more easily raise the capital needed to further develop and explore its mineral properties.
The Element 79 Gold Corp. Board of directors has set the effective date of this share consolidation for May 10th, 2021. All shareholders should receive their new share certificates and/or notices from the transfer agent within 2-4 weeks of this date, and should have their shares consolidated shortly thereafter.
Going forward, shareholders should consult their brokers for any related advice or assistance they might need in regards to the share consolidation’s impacts on their portfolio. Any additional queries can be directed to the company’s Investor Relation representatives.
Element 79 Gold Corp. is a fast-growing exploration and junior mining company focused on the acquisition, exploration and development of mineral property assets in the Americas. It has an impressive portfolio of mineral properties, including gold, copper, rare earths, zinc, cobalt and others. This share consolidation is the latest move by the company to increase its capital efficiency and position itself for long-term success.
Element 79 Gold Corp., a Canada-based junior mining exploration company, recently announced the effective date of its share consolidation.
The company is working to increase its capital efficiency by consolidating its common shares on a two-for-one basis. It is expected to reduce the number of issued and outstanding common shares, resulting in a one-time reduction in shareholders’ equity.
Under the share consolidation plan, each two common shares held by shareholders as of the effective date will be consolidated into one common share with no change to the par value of the company’s common shares. The company will also replace its existing stock symbol with a new symbol post consolidation and will produce a new CUSIP number for the new consolidated shares.
The company’s board of directors and management feel that this is a sensible decision for the company’s long-term success. This capital efficiency will enable the company to more easily raise the capital needed to further develop and explore its mineral properties.
The Element 79 Gold Corp. Board of directors has set the effective date of this share consolidation for May 10th, 2021. All shareholders should receive their new share certificates and/or notices from the transfer agent within 2-4 weeks of this date, and should have their shares consolidated shortly thereafter.
Going forward, shareholders should consult their brokers for any related advice or assistance they might need in regards to the share consolidation’s impacts on their portfolio. Any additional queries can be directed to the company’s Investor Relation representatives.
Element 79 Gold Corp. is a fast-growing exploration and junior mining company focused on the acquisition, exploration and development of mineral property assets in the Americas. It has an impressive portfolio of mineral properties, including gold, copper, rare earths, zinc, cobalt and others. This share consolidation is the latest move by the company to increase its capital efficiency and position itself for long-term success.
