Glacier Lake Announces Effective Date of Name Change to "Skeleton Coast Uranium Corp." and Share Consolidation
Rhea-AI Summary
Glacier Lake (OTC: GLIIF) will change its name to Skeleton Coast Uranium Corp. and consolidate common shares on a 1-for-2.4 basis effective at the close of business March 4, 2026. Trading will commence under ticker SKEL at market open March 5, 2026.
The company currently has 25,447,554 shares outstanding; post-Consolidation it expects approximately 10,603,147 shares outstanding. No cash will be paid for fractional shares; fractional entitlements will be rounded to the nearest whole share. Registered holders will receive transmittal instructions from Computershare.
Positive
- Consolidation ratio set at 1-for-2.4
- Expected post-Consolidation shares: ~10,603,147
- Ticker and name change to SKEL / Skeleton Coast Uranium
Negative
- Outstanding shares reduced from 25,447,554 to ~10,603,147
- No cash paid for fractional shares; rounded to whole shares
- Consolidation and name change subject to TSXV acceptance
Vancouver, British Columbia--(Newsfile Corp. - March 3, 2026) - Glacier Lake Resources Inc. (TSXV: GLI) (OTC Pink: GLIIF) (FSE: KDM) (the "Company") announces that effective at the close of business on March 4, 2026 it will consolidate its common share capital on a 1 for 2.4 basis (the "Consolidation") and change its name to "Skeleton Coast Uranium Corp." Effective at the open of markets on March 5, 2026, the common shares of the Company will commence trading on a post-Consolidation basis under the new name and ticker symbol "SKEL" and new CUSIP 83058E106.
The Company currently has 25,447,554 common shares outstanding and following completion of the Consolidation it is expected that the Company will have approximately 10,603,147 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 to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the Company will receive a letter of transmittal from Computershare Trust Company of Canada with instructions on how to exchange existing share certificates for new post-Consolidation share certificates.
On behalf of the Board of Directors
Glacier Lake Resources Inc.
Dr. Nathan Chutas, PhD, CPG
President and Chief Executive Officer
T: (236) 334-1660
E: info@skeletoncoasturanium.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the anticipated completion of the Consolidation, Name Change, including without limitation, acceptance of the TSX Venture Exchange, and the results of exploration activities in connection with the foregoing and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company cautions readers that forward-looking statements, including without limitation, those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements, including, without limitation, risks that the Consolidation, Name Change will not be completed as planned (including, without limitation as a result of inability to obtain TSX Venture Exchange acceptance therefor), and the exploration results will not be as anticipated. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/285989
FAQ
What is the consolidation ratio and effective date for GLIIF?
How many shares will GLIIF have after the March 4, 2026 consolidation?
Will GLIIF shareholders receive cash for fractional shares after the consolidation?
When will Glacier Lake begin trading as Skeleton Coast Uranium Corp. (SKEL)?
What should registered GLIIF shareholders do to exchange old share certificates?
