Welcome to our dedicated page for HIGHCLIFF METALS news (Ticker: IMAHF), a resource for investors and traders seeking the latest updates and insights on HIGHCLIFF METALS stock.
Highcliff Metals Corp (OTC: IMAHF), also referred to as HighCliff Metals Corp., is a mineral exploration company in the Other Industrial Metals & Mining industry. Its news flow centers on corporate developments, financings, and strategic transactions rather than on production updates, reflecting its exploration-stage profile and focus on acquiring new mineral properties.
Recent news includes the announcement and completion of a consolidation of its common shares on a four-for-one basis, approved in accordance with NEX and TSX Venture Exchange policies. The company has also reported a non-brokered private placement financing of common shares, with proceeds directed to general working capital, corporate indebtedness, and costs associated with seeking out a new business. These items are key for investors tracking changes in capital structure and funding.
A major theme in Highcliff Metals’ disclosures is a proposed reverse takeover transaction with Greyridge Exploration Corp., a private Ontario corporation specialized in precious and base metals. News releases describe a non-binding letter of intent for a three-cornered amalgamation, related financings, and Greyridge’s acquisition of ERG Middle East S.à.r.l. and its Saudi Arabian exploration assets. The company notes that trading in its securities should be considered highly speculative and that completion of the transaction is subject to multiple conditions and Exchange acceptance.
Investors and followers of IMAHF can use this news page to review updates on share consolidations, private placements, early warning disclosures, and progress or changes related to the proposed reverse takeover and associated mineral exploration strategy.
Highcliff Metals (OTC:IMAHF) has completed its previously announced non-brokered private placement, raising $249,995.88 through the issuance of 4,166,598 common shares at $0.06 per share.
Notably, Antanas Guoga acquired 3,200,000 shares for $192,000, representing approximately 36.22% of the company's outstanding shares. The proceeds will be used for working capital, corporate debt reduction, and exploring new business opportunities. The shares are subject to a four-month resale restriction period.
HighCliff Metals Corp (TSXV: HCM.H) (OTC: IMAHF) has completed its share consolidation on April 14, 2025, implementing a 4:1 ratio where four pre-consolidation common shares were converted into one post-consolidation share. The consolidation, approved by shareholders holding over 50% of outstanding shares as of February 28, 2025, resulted in a total of 4,668,265 common shares outstanding.
The consolidated shares began trading on the NEX board under the symbol 'HCM.M' with new CUSIP number 42984P205 and ISIN CA42984P2052. Fractional shares were handled by rounding up to the nearest whole number if equal to or greater than one-half, while smaller fractions were cancelled without compensation. Management believes this restructuring will improve the company's ability to attract capital financing and enhance growth opportunities.
HighCliff Metals Corp (TSXV: HCM.H) (OTC: IMAHF) has announced the effective date for its share consolidation, set for April 14, 2025. The consolidation will be executed on a 4:1 ratio, where four pre-consolidation common shares will be converted into one post-consolidation share.
The company's current 18,673,028 outstanding common shares will be reduced to approximately 4,668,257 shares. The consolidation received approval from shareholders holding over 50% of outstanding shares as of February 28, 2025. The company will retain its trading symbol 'HCM.H' on the NEX board, with new CUSIP number 42984P205 and ISIN CA42984P2052.
Fractional shares will be handled by rounding up to the nearest whole number if equal to or greater than one-half, while smaller fractions will be cancelled without compensation. The consolidation aims to create a more attractive share structure for future capital financing and growth opportunities, pending Exchange approval.
HighCliff Metals Corp (TSXV: HCM.H) (OTC: IMAHF) has announced plans to consolidate its common shares on a 4:1 basis. The consolidation will reduce the current 18,673,028 outstanding common shares to approximately 4,668,257 shares.
Under the consolidation terms, fractional shares equal to or greater than one-half will be rounded up, while those less than one-half will be cancelled without compensation. The company will maintain its trading symbol 'HCM.H' on the NEX board, and no name change is planned.
The consolidation requires approval from shareholders holding over 50% of outstanding shares as of February 28, 2025, which the company plans to obtain through written consent. The initiative aims to create a more attractive share structure for future capital financing and growth opportunities. The consolidation remains subject to Exchange approval.
Highcliff Metals Corp (TSXV: HCM.H) (OTC Pink: IMAHD) has entered into a non-binding letter of intent with Greyridge Exploration Corp for a reverse takeover transaction. The deal involves Highcliff acquiring all of Greyridge's shares through a three-cornered amalgamation. Greyridge has agreed to acquire ERG Middle East S.à.r.l, which owns ERG's assets in Saudi Arabia, including 25 licenses covering 1,823 km² and 398 exploration license applications.
The transaction includes:
- Highcliff completing a minimum $3,750,000 private placement
- Greyridge finalizing its acquisition of ERG Middle East S.à.r.l
- Forming a new board with four Greyridge nominees and one Highcliff nominee
The deal aims to create Saudi Arabia's next major copper and gold exploration company, subject to regulatory and Exchange approvals.