Sky Gold Provides Update Re: Consolidation
Sky Gold Corp (OTC PINK: SRKZF) has announced the effective date for its planned share consolidation, set for January 23, 2023.
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Rhea-AI Summary
Sky Gold Corp (OTC PINK: SRKZF) has announced the effective date for its planned share consolidation, set for January 23, 2023. This consolidation will occur on a basis of three existing shares for one new share, resulting in approximately 28,755,532 shares outstanding post-consolidation. All shareholders, stock options, and warrants will uniformly be affected, with appropriate adjustments made by the company. The company's name and trading symbol will remain unchanged, but a new ISIN and CUSIP number will be assigned. The company aims to restructure its share capital to enhance market conditions.
Positive
- Share consolidation aims to improve market conditions.
- Uniform adjustment of stock options and warrants to maintain equity balance.
Negative
- None.
Details
News Market Reaction – SRKZF
The recorded move for SRKZF in the trading session of this news was -14.43%.
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VANCOUVER, BC / ACCESSWIRE / January 19, 2023 / SKY GOLD CORP. ("Sky" or the "Company") (TSXV:SKYG)(OTC PINK:SRKZF) announces that the proposed consolidation (the "Consolidation") of its common shares (the "Shares"), previously announced on December 20, 2022, will proceed, effective at the open of markets on Monday, January 23, 2023.
The Consolidation will proceed on the basis of three (3) existing Shares for one (1) new Share. Accordingly, it is anticipated that an approximate total of 28,755,532 Shares would be issued and outstanding following the Consolidation, assuming no other change in the issued capital. Any fractional Shares arising as a result of the Consolidation will be rounded down to the nearest whole number.
The Consolidation will affect all shareholders of the Company uniformly and affect all of the Company's stock options and warrants issued and outstanding at the effective date. At the time of the Consolidation, the number, exchange basis or exercise price of all stock options and warrants issued and outstanding will be adjusted to reflect the Consolidation. The actual adjustment will be made by the Company in consultation with its advisors.
There will be no change in the Company's name, nor in its trading symbol. The post-Consolidation Shares will continue to trade on the TSX Venture Exchange under the symbol "SKYG", but with a new ISIN number (CA83085J3001) and CUSIP number (83085J300).
ON BEHALF OF THE BOARD
"Mike England"
Mike England, CEO, PRESIDENT & DIRECTOR
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995
Toll Free: 1-888-945-4770
Neither the 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.
SOURCE: Sky Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/735864/Sky-Gold-Provides-Update-Re-Consolidation
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