Newfoundland Discovery Announces Effective Date of Share Consolidation
Rhea-AI Summary
Newfoundland Discovery Corp (CSE: NEWD) (OTC Pink: NEWDF) has announced the implementation of a 1-for-10 share consolidation, effective November 6, 2024. Following the consolidation, the company will have approximately 9,322,666 common shares issued and outstanding. The company will continue trading under the same name and symbol on the Canadian Securities Exchange. Computershare Investor Services Inc. will serve as the transfer agent for this corporate action.
Positive
- None.
Negative
- Share consolidation (reverse split) typically indicates company's struggle to maintain listing requirements or stock price
- 10:1 consolidation ratio represents significant share reduction, which may impact trading liquidity
News Market Reaction 1 Alert
On the day this news was published, NEWDF declined 52.00%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - November 1, 2024) - NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD) (OTC Pink: NEWDF) (FSE: M4K) ("Newfoundland Discovery" or "the Company") announces that, further to its news release dated October 30, 2024, the Company shall proceed on a share consolidation of one (1) post-consolidation share for every ten (10) pre-consolidation shares.
Effective at the opening on Wednesday, November 6, 2024, the shares of the Company will commence trading on the Canadian Securities Exchange on a consolidated basis. The name and stock symbol share remain the same.
Post-Consolidation Capitalization: Unlimited common shares with no par value of which approximately 9,322,666 common shares are issued and outstanding.
Transfer Agent: Computershare Investor Services Inc.
Trading Symbol: NEWD
CUSIP Number: 651346207 (new)
Record Date: November 6, 2024
About Newfoundland Discovery Corp.
Newfoundland Discovery Corp. (CSE: NEWD) (OTC Pink: NEWDF) is a Canadian junior mining exploration Company, with a primary focus on the exploration and development of mineral assets in active Canadian mining districts. Our portfolio of projects includes lithium prospects in the Hearst, Ontario district, a portfolio of precious and base metal projects in Newfoundland, and a strategic early-mover foothold on projects in the Detour Lake Gold Mine district of Ontario.
On Behalf of the Board of Directors,
NEWFOUNDLAND DISCOVERY CORP.
"Jeremy Prinsen"
President, CEO & Director
Corporate Communications
Email: info@newfoundlanddiscovery.com
Website: www.newfoundlanddiscovery.ca
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts no responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement
This news release may contain certain "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, performance, or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results, or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228671
FAQ
When will Newfoundland Discovery's (NEWDF) share consolidation take effect?
What is the consolidation ratio for Newfoundland Discovery (NEWDF) shares?
How many shares will Newfoundland Discovery (NEWDF) have outstanding after the consolidation?
Will Newfoundland Discovery's trading symbol change after the November 2024 consolidation?
