Searchlight Announces Completion of Share Consolidation
Rhea-AI Summary
Searchlight Resources (TSXV: SCLT) (OTC: SCLTF) has announced a share consolidation at a ratio of 5:1, effective October 2, 2025. The consolidation will reduce the company's outstanding common shares from 146,546,134 to 29,309,227 shares.
The company states that the consolidation aims to enhance its ability to attract future financings, generate greater investor interest, and improve trading liquidity. A new CUSIP number (81222L204) will be issued, and registered shareholders will receive new share certificates.
Positive
- Share consolidation could improve trading liquidity and investor interest
- Potential enhanced ability to attract future financings
Negative
- Shareholders will own fewer shares post-consolidation
- No immediate tangible business benefit announced
News Market Reaction
On the day this news was published, SCLTF declined 25.25%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - September 26, 2025) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") announces that it has consolidated its issued and outstanding common shares at a ratio of five (5) pre-consolidated common shares to one (1) post-consolidation common share (the "Consolidation"). The purpose of the Consolidation was to facilitate the Company's ability to attract future financings, generate greater investor interest and improve trading liquidity.
The effective date of the Consolidation will be October 2, 2025.
As a result of the Consolidation, the Company's 146,546,134 pre-Consolidation common shares were consolidated to 29,309,227 post-Consolidation common shares issued and outstanding.
Registered shareholders of the Company will receive new share certificates under the new CUSIP number, which is 81222L204.
On behalf of the Board of Directors,
"Stephen Wallace"
SEARCHLIGHT RESOURCES INC.
Stephen Wallace, President, CEO and Director
For further information, visit the Company's website at www.searchlightresources.com or contact:
Searchlight Resources Inc.
Alf Stewart, Chairman
(604) 331-9326
info@searchlightresources.com
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/268131
FAQ
What is the ratio of Searchlight Resources' (SCLTF) share consolidation announced for October 2025?
How many shares will Searchlight Resources (SCLTF) have outstanding after the October 2025 consolidation?
When will Searchlight Resources' (SCLTF) share consolidation take effect?
Why is Searchlight Resources (SCLTF) conducting a share consolidation?
What is the new CUSIP number for Searchlight Resources (SCLTF) after the consolidation?
