- Fremont Gold Ltd. (FRE) is proceeding with the consolidation of its common shares on a ten-for-one basis
- After the consolidation, the company will drop from 146,114,292 to approximately 14,611,431 common shares issued and outstanding
- The company’s common shares will commence trading on a post-consolidated basis from May 18, 2022
- Fremont Gold Ltd is an exploration company engaged in the acquisition and exploration of mineral properties
- At 12:52 PM ET, shares of Fremont Gold Ltd. remained unchanged at $0.015
Fremont Gold (FRE) is proceeding with the consolidation of its common shares on a ten-for-one basis.
The company’s common shares will commence trading on a post-consolidated basis when the market opens on May 18, 2022.
Just before the completion of the consolidation, the company has 146,114,292 common shares issued and outstanding.
By the time the consolidation is completed, the company will have approximately 14,611,431 common shares issued and outstanding, subject to the rounding of fractional common shares.
No fractional common shares will be issued as a result of the consolidation. All fractional common shares resulting from the consolidation will be rounded to the nearest whole number of common shares.
The company’s outstanding incentive stock options and warrants will be adjusted on the same basis (10:1) to reflect the consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices.
New warrant certificates reflecting the consolidation are not required and will not be issued.
Registered shareholders will receive a letter of transmittal from the company’s transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-consolidation common shares for new share certificates or direct registration advice (DRS).
No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to effect the consolidation.
Fremont Gold Ltd is an exploration company engaged in the acquisition and exploration of mineral properties.
Fremont’s mine-finding management team has assembled a portfolio of high-quality Nevada gold projects with the goal of making a new discovery.
At 12:52 PM ET, shares of Fremont Gold Ltd. remained unchanged at $0.015.