Element 79 Gold Corp. announced today that the effective date of important corporate actions related to the share consolidation of its issued and outstanding common shares will be Wednesday, September 18, 2019.
This decision is part of a process to adjust the number of outstanding common shares in the company to 54,000,000, from its previous total of 108,000,000. The move is to reduce the complexity of share ownership and provide better alignment with the company’s plans for increased market accessibility.
Shareholders of record at the close of business on Tuesday, September 17, 2019 will be entitled to receive one post-consolidation common share in exchange of every two pre-consolidation common shares. Outstanding stock options will also be immediately adjusted accordingly, so that they will represent the right to acquire one post-consolidation share instead of two pre-consolidation shares.
The consolidation process is significant progress for Element 79 Gold Corp. and its shareholders. By simplifying the current share structure, the company will have better access to capital markets and help position itself to become a strong, independent gold mining corporation.
The consolidation is expected to be distributed to shareholders on or shortly after the effective date, and the new shares will commence trading on the TSX Venture Exchange under the symbol “EGV” on or after the effective date.
Shareholders who hold their shares through a bank, broker or other nominee should contact their bank, broker, or other nominee for instructions and assistance with any questions they may have regarding the delivery of new common shares resulting from the consolidation.
Element 79 Gold Corp. hopes that the consolidation of its shares will provide clarity and market accessibility for its current shareholders and the investing public. The company looks forward to continuing to create value for its stakeholders.
“Unlock Your Fortune: Element 79 Gold Corp Announces Share Consolidation
