Fjordland Announces Effective Date of Consolidation
Fjordland will complete a 1-for-8 share consolidation on September 21, 2026, reducing its outstanding share count and adjusting all convertible securities.
Rhea-AI Summary
Fjordland Exploration (FEXXF) will implement an eight-for-one share consolidation of its issued and outstanding common shares effective September 21, 2026, subject to TSX Venture Exchange approval.
On the effective date, the shares will begin trading on the TSXV on a consolidated basis under the existing name and trading symbol, with new CUSIP 33833E400 and ISIN CA33833E4004. The current 82,935,531 common shares are expected to become approximately 10,366,941 post-consolidation shares, subject to rounding. No fractional shares will be issued; fractions will be rounded down without compensation. Convertible securities will be proportionately adjusted, and registered certificate holders will receive instructions from Computershare on exchanging certificates.
Positive
- 1-for-8 share consolidation expected to reduce shares from 82,935,531 to about 10,366,941
- Company states the consolidation is intended to improve future financing objectives
Negative
- Fractional post-consolidation shares will be rounded down without compensation
- Consolidation remains subject to TSX Venture Exchange approval, adding execution risk
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2026) - Fjordland Exploration Inc. (TSXV: FEX) ("Fjordland" or the "Company") announces that, further to the Company's press release on September 2, 2026, the effective date for the consolidation of Fjordland's issued and outstanding common shares (each, a "Share") on the basis of eight pre-consolidation Shares for each one post-consolidation Share (the "Consolidation") will be September 21, 2026.
No shareholder approval is required for the Consolidation to come into effect. The Company has obtained a new CUSIP (33833E400) and ISIN (CA33833E4004) in connection with the Consolidation. There will be no name change or trading symbol change in conjunction with the Consolidation.
Effective at the opening of trading on Monday, September 21, 2026 (the "Effective Date"), the Shares will commence trading on the TSXV on a consolidated basis.
As of the date hereof, the Company has 82,935,531 common shares issued and outstanding. Following completion of the Consolidation, the Company expects to have approximately 10,366,941 common shares issued and outstanding, subject to rounding, on the Effective Date
No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded down to the nearest whole share without compensation. The exercise or conversion price, and the number of Common Shares issuable under any of the Company's outstanding convertible securities, will be proportionately adjusted upon the effectiveness of the Consolidation
The exercise or conversion price, and the number of Shares issuable under any of the Company's outstanding convertible securities, if any, will be proportionately adjusted upon the Effective Date.
A letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., will be mailed to registered shareholders holding physical Share certificates providing instructions on how to exchange such Share certificates representing pre-Consolidation Shares for new certificates representing post-Consolidation Shares. Until surrendered, each Share certificate representing pre-Consolidation Shares will represent the number of whole post-Consolidation Shares to which the holder is entitled as a result of the Consolidation. Shareholders who hold their Shares in DRS/Book or in brokerage accounts are not required to take action to effect an exchange of their pre-Consolidation Shares for post-Consolidation Shares.
The Consolidation remains subject to the approval of the TSX Venture Exchange. The purpose of the Consolidation is to improve the Company's future financing objectives.
ON BEHALF OF THE BOARD OF DIRECTORS
"Gord Friesen"
Gord Friesen, CEO
For further information:
Ph: 604-618-7781
www.fjordlandex.com
Caution Regarding Forward-Looking Information
Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Such forward-looking information includes, without limitation, statements regarding the timing for the Effective Date and the approval of the TSX Venture Exchange for the Consolidation. Forward-looking information is based on reasonable assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update forward-looking information except as required by applicable securities laws."
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture 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/314726
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