Searchlight Resources Announces Proposed Share Consolidation
Rhea-AI Summary
Searchlight Resources (OTC:SCLTF) has announced plans for a 5:1 share consolidation of its common shares. The consolidation will reduce the company's outstanding shares from 146,546,134 to approximately 29,309,227 shares.
The company states that the consolidation aims to enhance its ability to attract future financing, increase investor interest, and improve trading liquidity. The consolidation does not require shareholder approval and is pending acceptance from the TSX-V.
Positive
- Share consolidation could improve trading liquidity
- May enhance ability to attract future financings
- No shareholder approval required, streamlining the process
Negative
- Potential indication of need for additional financing
- No immediate fundamental business value creation
Vancouver, British Columbia--(Newsfile Corp. - August 22, 2025) - Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) ("Searchlight" or the "Company") announces that it intends to consolidate its issued and outstanding common shares at a ratio of five (5) pre-consolidated shares to one (1) post consolidation share (the "Consolidation").
The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, generate greater investor interest and improve trading liquidity. The Company currently has 146,546,134 common shares issued. Upon completion of the Consolidation, the Company anticipates there will be 29,309,227 common shares issued and outstanding.
In accordance with the Company's Articles, the Consolidation does not require the approval of the shareholders. The Consolidation is subject to acceptance from the TSX-V.
About Searchlight Resources Inc.
Searchlight Resources Inc. (TSXV: SCLT) (OTC Pink: SCLTF) is a Canadian mineral exploration and development company focused on Saskatchewan, Canada, which has been ranked as the top location for mining investment in Canada by the Fraser Institute. Exploration focus is on battery minerals and gold throughout the province, concentrating on projects with nearby infrastructure.
On behalf of the Board of Directors,
"Stephen Wallace"
Stephen Wallace, President, CEO and Director
SEARCHLIGHT RESOURCES INC.
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 RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263600
FAQ
What is the ratio of Searchlight Resources (SCLTF) share consolidation announced on August 22, 2025?
How many shares will Searchlight Resources have after the share consolidation?
Why is Searchlight Resources (SCLTF) doing a share consolidation?
Does the Searchlight Resources share consolidation require shareholder approval?
