American Copper Development Corporation Announces Share Consolidation
Rhea-AI Summary
American Copper Development (CSE: ACDX) has announced a share consolidation on a 5:1 basis, effective February 24, 2025. The consolidation will reduce the company's outstanding shares from 92,902,254 to approximately 18,580,450 shares. The trading symbol 'ACDX' will remain unchanged, while new CUSIP and ISIN numbers will be assigned.
The consolidation will proportionally adjust the exercise price and number of shares for outstanding convertible securities. Endeavor Trust will process shares held by registered shareholders as of February 24, 2025. The board initiated this consolidation to increase flexibility for future financing opportunities, subject to Canadian Securities Exchange policies.
Positive
- Share consolidation may improve financing opportunities
- Automatic rounding up of fractional shares benefits shareholders
Negative
- Shareholders will own 80% fewer shares post-consolidation
- Potential dilution risk from future financing activities
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - American Copper Development Corporation (CSE: ACDX) ("ACDC" or the "Company") announces that it intends to consolidate the common shares of the Company (each, a "Share") on the basis of five (5) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation").
The Consolidation will become effective at the opening of the market on February 24, 2025. The symbol "ACDX" will remain the same. The new CUSIP number will be 02527W208 and its new ISIN number will be CA02527W2085 for the post-Consolidation Shares. Currently, a total of 92,902,254 Shares are issued and outstanding. Accordingly, upon the Consolidation becoming effective, a total of 18,580,450 Shares, subject to adjustments for rounding, will be issued and outstanding. Any fractional Shares resulting from the exchange will be rounded up to the nearest whole Share. The exercise or conversion price, as well as the number of Shares issuable with respect to any of the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation. There is no maximum number of authorized Shares.
Endeavor Trust Corporation has confirmed that all Shares held by registered shareholders as of the record date on February 24, 2025, will be processed. CEDE (DTC) is the only shareholder holding the certificates and that it will mail new certificates to CEDE (DTC). The board of directors is proceeding with the Consolidation on the basis that it may provide the Company with increased flexibility to seek additional financing opportunities. The Consolidation remains subject to the policies of the Canadian Securities Exchange.
About the Company
The Company is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct its exploration program on the Lordsburg Property.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
American Copper Development Corporation
For further information, please contact:
Daniel Schieber
Chief Executive Officer and Director
Phone: (778) 372-9888
Email: invest@american-copper.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information involves risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information is necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Accordingly, the forward-looking information discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting ACDC. Although ACDC believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on this information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, ACDC disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241486
FAQ
What is the share consolidation ratio for ACDXF stock?
When will ACDXF share consolidation take effect?
How many shares will ACDXF have after the consolidation?
Will ACDXF's trading symbol change after the consolidation?
How will ACDXF's convertible securities be affected by the consolidation?
