Newfoundland Discovery Announces Share Consolidation
Rhea-AI Summary
Newfoundland Discovery Corp (CSE: NEWD) (OTC Pink: NEWDF) has announced a 20:1 share consolidation approved by its Board of Directors. Following the consolidation, the company's total issued and outstanding common shares will be reduced to 4,661,333. The company's name and stock symbol will remain unchanged. The consolidation is pending approval from the Canadian Securities Exchange, with the effective trading date to be announced in a future release.
Positive
- None.
Negative
- 20:1 share consolidation indicates significant share reduction which could impact trading liquidity
- Total shares outstanding will decrease substantially to 4.66M from approximately 93.2M
News Market Reaction 1 Alert
On the day this news was published, NEWDF gained 8.38%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - October 30, 2024) - NEWFOUNDLAND DISCOVERY CORP. (CSE: NEWD) (OTC Pink: NEWDF) (FSE: M4K) ("Newfoundland Discovery" or "the Company") announces that the Board of Directors has approved a consolidation of all of the Company's issued and outstanding common shares on the basis of twenty (20) pre-consolidated shares for every one (1) post-consolidated share (the "Consolidation").
After giving effect to the Consolidation, the Company will have 4,661,333 common shares issued and outstanding. The Company's name and stock symbol shall remain the same.
The Consolidation remains subject to the approval of Canadian Securities Exchange. The Company will issue a further news release announcing the effective date in which the Company will commence trading on a consolidated basis.
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/228419
FAQ
What is the ratio of Newfoundland Discovery's (NEWDF) share consolidation announced on October 30, 2024?
How many shares will Newfoundland Discovery (NEWDF) have after the share consolidation?
Will Newfoundland Discovery's (NEWDF) stock symbol change after the consolidation?
When will Newfoundland Discovery's (NEWDF) share consolidation take effect?
