Chakana Announces Effective Date of Share Consolidation
Rhea-AI Summary
Chakana Copper Corp (TSXV: PERU) (OTCQB: CHKKF) has announced a share consolidation effective February 28, 2025. The consolidation will be executed on a 10:1 basis, where shareholders will receive one new post-consolidation share for every ten pre-consolidation shares held.
The company's outstanding shares will reduce from 267,008,571 to approximately 26,700,857 shares. Trading will continue under the symbol 'PERU' with new CUSIP: 15748D205 and ISIN: CA15748D2059. No fractional shares will be issued, with amounts rounded down to the nearest whole share. The consolidation will also proportionally adjust the exercise price and number of shares for outstanding stock options and warrants.
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News Market Reaction
On the day this news was published, CHKKF declined 9.35%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - February 25, 2025) - Chakana Copper Corp. (TSXV: PERU) (OTCQB: CHKKF) (FSE: 1ZX) (the "Company" or "Chakana"), announces that further to its news release dated February 11, 2025, Chakana will consolidate its common shares on the basis of one (1) new-post-consolidation common share for every ten (10) pre-consolidation common shares effective as of February 28, 2025 (the "Consolidation"). There will be no name change or trading symbol change in conjunction with the Consolidation.
Effective at the opening of market on February 28, 2025, the common shares of Chakana will commence trading on a post-Consolidation basis under the existing ticker symbol "PERU" and new CUSIP: 15748D205; ISIN: CA15748D2059. There were 267,008,571 common shares of Chakana outstanding prior to the Consolidation and following the Consolidation Chakana will have approximately 26,700,857 common shares outstanding.
No fractional shares will be issued in connection with the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole common shares and no cash consideration will be paid in respect of the fractional shares. Registered holders of common shares of Chakana will receive a letter of transmittal from TSX Trust Company with instructions on how to exchange existing share certificates or DRS' for new post-Consolidation share certificates or DRS'. Non-registered shareholders who hold their common shares through a securities broker or other intermediary and do not have shares registered directly in their name will not be required to take any measures with respect to the Consolidation.
The exercise price and number of Common Shares issuable upon the exercise of Chakana's outstanding stock options and warrants have been proportionately adjusted to reflect the Consolidation in accordance with the terms of such securities.
ON BEHALF OF THE BOARD
(signed) "Douglas Silver"
Douglas Silver
Chairman of the Board
And
(signed) "David Kelley"
David Kelley
President and CEO
For further information contact:
Phone: 720-233-2166
Email: info@chakanacopper.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/242372
FAQ
What is the share consolidation ratio for Chakana Copper (CHKKF) announced in February 2025?
How many shares will Chakana Copper (CHKKF) have outstanding after the February 2025 consolidation?
When will Chakana Copper's (CHKKF) share consolidation take effect?
What happens to fractional shares in Chakana Copper's (CHKKF) 2025 consolidation?
