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Be the first with the news that moves the market- X-Terra Resources (XTT) announced a share consolidation on the basis of seven pre-consolidation shares for one post-consolidation share
- The shares are expected to begin trading on a consolidated basis on Wednesday, February 8, 2023
- X-Terra’s common shares will continue to trade under the symbol XTT, and X-Terra’s name will not change
- X-Terra Resources is a resource company focused on acquiring and exploring lithium and precious metals properties in Canada
- X-Terra Resources Inc. (XTT) opened trading at C$0.155
X-Terra Resources (XTT) announced a share consolidation on the basis of seven pre-consolidation shares for one post-consolidation share.
The shares are expected to begin trading on a consolidated basis on the TSX Venture Exchange on Wednesday, February 8, 2023.
The number of issued and outstanding shares will be reduced from 114,688,936 to 16,384,087. Each shareholder’s percentage ownership in the corporation and proportional voting power will remain unchanged except for adjustments to any fractional common shares.
The new CUSIP number for the post-consolidation shares is 98387W205, and the new ISIN number is CA98387W2058.
Shareholders who hold their shares in brokerage accounts or in “street name” are not required to take any action to effect an exchange of their shares.
Registered shareholders will receive a letter of transmittal from Computershare Investor Services Inc., the corporation’s transfer agent. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates representing pre-consolidation shares for new certificates representing post-consolidation shares.
Management believes that the consolidation is necessary to provide the corporation with a share structure that will better attract capital financing and that will provide for future growth opportunities.
X-Terra’s common shares will continue to trade under the symbol “XTT,” and X-Terra’s name will not change.
X-Terra Resources is a resource company focused on acquiring and exploring lithium and precious metals properties in Canada.
X-Terra Resources Inc. (XTT) opened trading at C$0.155.
