Nickelex Announces Name Change to Paradigm Gold Corporation and Share Consolidation
Rhea-AI Summary
Nickelex Resource (TSXV: NICK) has announced two significant corporate changes: a name change to Paradigm Gold and a 10:1 share consolidation. The changes will take effect around April 11, 2025, when the company will begin trading under the new symbol PDQ on the TSX Venture Exchange.
The share consolidation will reduce the current 90,203,230 outstanding common shares to approximately 9,020,308 shares. Management believes these changes will enhance investor interest, improve trading liquidity, and facilitate future financing opportunities. Shareholders will receive instructions to exchange their pre-consolidation share certificates for post-consolidation certificates once the changes take effect.
Positive
- Share consolidation may improve trading liquidity
- Potential for enhanced investor interest
- Better positioning for future financing opportunities
Negative
- Shareholders will experience 90% reduction in number of shares held
- Share consolidation may not guarantee improved market performance
- Additional administrative burden for shareholders to exchange share certificates
Vancouver, British Columbia--(Newsfile Corp. - April 8, 2025) - Nickelex Resource Corporation (TSXV: NICK) (the "Company") reports that it will change its name to "Paradigm Gold Corporation" pursuant to a resolution passed by Directors on March 7, 2025. The Board of Directors has also approved a capital consolidation of the Company's issued and outstanding common shares on a one new share for ten old shares basis. On or about April 11, 2025, the Company's shares will commence trading on a consolidated basis under the new name on the TSX Venture Exchange with a new symbol "PDQ" and new CUSIP number 69902F100.
There are currently 90,203,230 common shares issued and outstanding and, upon completion of the consolidation, there will be approximately 9,020,308 common shares issued and outstanding. The Company's management believes that the share consolidation will result in greater investor interest, improved trading liquidity and will facilitate future financing of the Company. The Company will send shareholders a letter of transmittal when the share consolidation has taken effect instructing shareholders to surrender the certificates evidencing their pre‐consolidation common shares for replacement certificates representing post‐consolidation common shares. The consolidation and name change are subject to TSX Venture Exchange approval.
On behalf of the Board of Directors,
"Lawrence Page, K.C."
Lawrence Page, K.C., Chairman and Director, Nickelex Resource Corporation
For further information, please contact us at 604.641.2759 or by email at corpdev@mnxltd.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this news release, other than statements of historical facts, are forward-looking statements. Forward-looking statements in this news release include plans to change the Company's name and to complete the share consolidation and the anticipated effective date thereof. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those forward-looking statements. These statements are based on a number of assumptions including, among other things, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; that all conditions precedent to the completion of the name change and consolidation will be satisfied in a timely manner; and the ability of third-party service providers to deliver services in a timely manner. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether because of new information, future events or otherwise, except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247713
FAQ
When will Nickelex (NICK) start trading as Paradigm Gold under the new PDQ symbol?
What is the share consolidation ratio for Nickelex's stock restructuring?
How many shares will be outstanding after Nickelex's consolidation?
What is the new CUSIP number for Paradigm Gold (formerly Nickelex)?
