- South Star Battery Metals Corp. (STS) is proceeding with its previously announced share consolidation
- The basis for the consolidation will be five pre-consolidation shares for one post-consolidation share
- Effective at market open on Wednesday, June 22, 2022, the company’s common shares will commence trading on a post-consolidation basis
- The consolidation will reduce the number of common shares issued and outstanding from 102,533,520 to approximately 20,506,704 common shares
- South Star Battery Metals Corp. is a Canadian battery metals project developer focused on acquiring and developing near-term production projects
- South Star Battery Metals Corp. remained unchanged at $0.10 at 2:07 PM ET
South Star Battery Metals Corp. (STS) is proceeding with its previously announced share consolidation.
The company is consolidating its common shares on the basis of one post-consolidation share for every five pre-consolidation shares.
After rounding adjustments, the consolidation will reduce the number of common shares issued and outstanding from 102,533,520 to approximately 20,506,704 common shares.
With effect from the opening of the market on Wednesday, June 22, 2022, the company’s common shares will begin trading on a post-consolidation basis.
This will not affect the company’s name and trading symbol as they will remain the same.
All fractional shares resulting from the consolidation will be rounded down to the nearest whole number, and the fractional share will be cancelled.
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 System (DRS) advice statements representing post-consolidation common shares to which they are entitled as a result of the consolidation.
Non-registered shareholders (shareholders who hold their common shares through an intermediary) are not required to take any action to effect the consolidation.
South Star Battery Metals Corp. is a Canadian battery metals project developer focused on acquiring and developing near-term production projects in the Americas.
South Star Battery Metals Corp. remained unchanged at $0.10 at 2:07 PM ET.