Rover Metals Receives Approval for Share Consolidation
Rhea-AI Summary
Rover Metals Corp. (TSXV: ROVR, OTCQB: ROVMF) has received TSX Venture Exchange approval to consolidate its common shares on a 1-for-6 basis. This change will reduce outstanding shares from 157,585,212 to 26,264,202, effective October 31, 2022. No alterations to the company's name or ticker symbol will occur, and shareholder approval is not necessary. CEO Judson Culter emphasized that this consolidation is crucial for financing future exploration across Rover's mineral projects, including lithium and zinc-copper initiatives.
Positive
- Approval for a 1-for-6 consolidation of common shares enhances share structure.
- Consolidation aims to facilitate financing for future exploration programs.
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, ROVMF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, British Columbia, Oct. 28, 2022 (GLOBE NEWSWIRE) -- Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that further to its release of October 20, 2022, the Company has received approval from the TSX Venture Exchange (the “TSXV”) to consolidate its outstanding common shares (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for each six (6) pre-consolidation Common Shares (the “Consolidation”). The Company currently has 157,585,212 Common Shares issued and outstanding and following the completion of the Consolidation will have 26,264,202 Common Shares issued and outstanding. Effective at the opening October 31, 2022, the common shares of the Company will begin trading on a consolidated basis.
There will be no name change and no ticker symbol change in connection with the Consolidation and shareholder approval is not required.
Judson Culter, CEO at Rover Metals, states “a consolidation of our Company’s securities is necessary to position Rover for growth and success with our new critical mineral projects. Both the Let’s Go Lithium Project, and the IML Zinc-Copper Project require Phase 1 and Phase 2 Exploration Programs. Additionally, the Company’s existing gold projects require expanded Phase 2 Exploration Programs. Management and the Directors of the Company believe that the timing is right for a consolidation as the Company will need to finance future exploration at all of its mineral resource projects.
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing a diverse portfolio of mineral resource projects: (1) Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT, Canada; as well as (3) Gold in NT, Canada. The Company is exclusive to the mining jurisdictions of Canada and the U.S.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
FAQ
What is the share consolidation ratio for Rover Metals Corp. (ROVMF)?
When will Rover Metals' shares start trading on a consolidated basis?
How many shares will Rover Metals have after the consolidation?
Do shareholders need to approve the share consolidation for Rover Metals (ROVMF)?
