Maritime Announces Share Consolidation
Maritime Resources Corp. (MRTMF) has announced a planned share consolidation (reverse stock split) on a 10-to-1 basis, effective June 16, 2025. The consolidation will reduce the company's outstanding common shares from 1,119,460,072 to approximately 111,946,007.
The consolidation, which was approved by shareholders on August 8, 2024, still requires TSX Venture Exchange approval. The company's existing stock options and warrants will be proportionally adjusted. Management believes this move will enhance marketability and facilitate organic growth while maintaining shareholders' proportionate ownership and voting power, except for minor adjustments due to fractional shares.
Maritime Resources Corp. (MRTMF) ha annunciato una consolidazione azionaria (split inverso) su base 10 a 1, con effetto dal 16 giugno 2025. Questa operazione ridurrà il numero di azioni ordinarie in circolazione da 1.119.460.072 a circa 111.946.007.
La consolidazione, approvata dagli azionisti l'8 agosto 2024, necessita ancora dell'approvazione della TSX Venture Exchange. Le opzioni e i warrant esistenti verranno adeguati proporzionalmente. La direzione ritiene che questa iniziativa migliorerà la commerciabilità delle azioni e faciliterà la crescita organica, mantenendo la quota di proprietà e il potere di voto degli azionisti, salvo lievi variazioni dovute alle azioni frazionarie.
Maritime Resources Corp. (MRTMF) ha anunciado una consolidación de acciones (split inverso) en una proporción de 10 a 1, que entrará en vigor el 16 de junio de 2025. Esta consolidación reducirá las acciones comunes en circulación de 1,119,460,072 a aproximadamente 111,946,007.
Dicha consolidación, aprobada por los accionistas el 8 de agosto de 2024, aún requiere la aprobación de la Bolsa de Valores TSX Venture. Las opciones y garantías existentes se ajustarán proporcionalmente. La dirección considera que esta medida mejorará la comercialización y facilitará el crecimiento orgánico, manteniendo la propiedad proporcional y el poder de voto de los accionistas, salvo pequeños ajustes por acciones fraccionarias.
Maritime Resources Corp. (MRTMF)는 10대 1 비율의 주식 병합(역주식 분할)을 2025년 6월 16일부터 시행할 예정이라고 발표했습니다. 이번 병합으로 회사의 발행 보통주 수는 1,119,460,072주에서 약 111,946,007주로 줄어듭니다.
이번 병합은 2024년 8월 8일 주주들의 승인을 받았으며, TSX 벤처 거래소의 승인을 아직 기다리고 있습니다. 기존 주식 옵션과 워런트는 비례적으로 조정될 예정입니다. 경영진은 이번 조치가 주식의 시장성을 높이고 유기적 성장을 촉진하는 동시에, 소수점 주식으로 인한 미세한 조정을 제외하고 주주들의 지분 및 의결권 비율을 유지할 것이라고 믿고 있습니다.
Maritime Resources Corp. (MRTMF) a annoncé une regroupement d'actions (fractionnement inversé) au ratio de 10 pour 1, effectif à partir du 16 juin 2025. Cette opération réduira le nombre d'actions ordinaires en circulation de 1 119 460 072 à environ 111 946 007.
Ce regroupement, approuvé par les actionnaires le 8 août 2024, nécessite encore l'approbation de la Bourse TSX Venture. Les options d'achat d'actions et les bons de souscription existants seront ajustés proportionnellement. La direction estime que cette démarche améliorera la négociabilité des actions et facilitera la croissance organique tout en maintenant la propriété proportionnelle et le pouvoir de vote des actionnaires, à l'exception de légers ajustements liés aux actions fractionnaires.
Maritime Resources Corp. (MRTMF) hat eine geplante Aktienzusammenlegung (Reverse Stock Split) im Verhältnis 10 zu 1 angekündigt, die am 16. Juni 2025 wirksam wird. Durch die Zusammenlegung wird die Anzahl der ausstehenden Stammaktien von 1.119.460.072 auf etwa 111.946.007 reduziert.
Die Zusammenlegung, die von den Aktionären am 8. August 2024 genehmigt wurde, bedarf noch der Zustimmung der TSX Venture Exchange. Die bestehenden Aktienoptionen und Warrants werden anteilig angepasst. Das Management ist der Ansicht, dass dieser Schritt die Handelbarkeit verbessert und organisches Wachstum erleichtert, während das anteilige Eigentum und Stimmrecht der Aktionäre erhalten bleibt, abgesehen von geringfügigen Anpassungen aufgrund von Bruchstücksaktien.
- Potential improved marketability of shares and ability to attract new investors
- Shareholders' proportionate ownership and voting power remain unchanged
- Could provide increased flexibility for future corporate initiatives
- Indicates possible concerns about low share price
- May face challenges in obtaining TSX Venture Exchange approval
- Could result in reduced trading liquidity initially
Toronto, Ontario--(Newsfile Corp. - May 26, 2025) - Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") announces it proposes to consolidate the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) new Common Share for every ten (10) existing Common Shares (the "Consolidation"). Each shareholder's percentage ownership in the Company and proportionate voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional Common Shares.
Management believes the Consolidation will help facilitate ongoing organic growth while providing the Company with increased flexibility for future corporate initiatives. This proposed Consolidation aims to attract new shareholders and improve the marketability of the Common Shares as a compelling investment opportunity.
As a result of the Consolidation, the 1,119,460,072 Common Shares issued and outstanding prior to the Consolidation will be reduced to approximately 111,946,007 Common Shares. The exercise price of the Company's existing incentive stock options under the Company's omnibus equity incentive plan, the number of Common Shares issuable thereunder, and the exercise price and number of Common Shares issuable under certain outstanding warrants will be adjusted in accordance with the Consolidation.
The Consolidation was approved by shareholders at the Company's Annual General and Special Meeting held on August 8, 2024, but remains subject to the approval of the TSX Venture Exchange (the "TSX.V"). The effective date of the Consolidation will be on June 16, 2025. The Company will not be changing its name in conjunction with the Consolidation.
About Maritime Resources Corp.
Maritime (TSXV: MAE) (OTC Pink: MRTMF) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a
On Behalf of the Board:
MARITIME RESOURCES CORP.
Garett Macdonald, MBA, P.Eng.
President and CEO
Phone: (416) 365-5321
info@maritimegold.com
www.maritimeresourcescorp.com
Caution Regarding Forward Looking Statements:
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations of the Canadian Securities Administrators. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may also be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would". While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking statements in this news release include without limitation, statements with respect to the Consolidation, including obtaining all required approvals, among others. All forward-looking information contained in this press release is given as of the date hereof, and is based on the opinions and estimates of management and information available to management as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws.
Neither the TSX.V 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/253448
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