Latest news with #shareconsolidation
Yahoo
26-05-2025
- Business
- Yahoo
Maritime Announces Share Consolidation
Toronto, Ontario--(Newsfile Corp. - May 26, 2025) - Maritime Resources Corp. (TSXV: MAE) ("Maritime" or the "Company") announces it proposes to consolidate the Company's issued and outstanding common shares (the "Common Shares") on the basis of one (1) new Common Share for every ten (10) existing Common Shares (the "Consolidation"). Each shareholder's percentage ownership in the Company and proportionate voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional Common Shares. Management believes the Consolidation will help facilitate ongoing organic growth while providing the Company with increased flexibility for future corporate initiatives. This proposed Consolidation aims to attract new shareholders and improve the marketability of the Common Shares as a compelling investment opportunity. As a result of the Consolidation, the 1,119,460,072 Common Shares issued and outstanding prior to the Consolidation will be reduced to approximately 111,946,007 Common Shares. The exercise price of the Company's existing incentive stock options under the Company's omnibus equity incentive plan, the number of Common Shares issuable thereunder, and the exercise price and number of Common Shares issuable under certain outstanding warrants will be adjusted in accordance with the Consolidation. The Consolidation was approved by shareholders at the Company's Annual General and Special Meeting held on August 8, 2024, but remains subject to the approval of the TSX Venture Exchange (the "TSX.V"). The effective date of the Consolidation will be on June 16, 2025. The Company will not be changing its name in conjunction with the Consolidation. About Maritime Resources Corp. Maritime (TSXV: MAE) (OTC Pink: MRTMF) is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top tier global mining jurisdiction. Maritime holds a 100% interest directly and subject to option agreements entitling it to earn 100% ownership in the Green Bay Property which includes the former Hammerdown gold mine and the Orion gold project. Maritime controls over 439 km2 of exploration land including the Green Bay, Whisker Valley, Gull Ridge and Point Rousse projects. Mineral processing assets owned by Maritime in the Baie Verte mining district include the Pine Cove mill and the Nugget Pond gold circuit. On Behalf of the Board: MARITIME RESOURCES CORP. Garett Macdonald, MBA, President and CEOPhone: (416) 365-5321info@ TwitterFacebookLinkedInYouTube Caution Regarding Forward Looking Statements: Certain of the statements made and information contained herein is "forward-looking information" within the meaning of National Instrument 51-102 - Continuous Disclosure Obligations of the Canadian Securities Administrators. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may also be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would". While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking statements in this news release include without limitation, statements with respect to the Consolidation, including obtaining all required approvals, among others. All forward-looking information contained in this press release is given as of the date hereof, and is based on the opinions and estimates of management and information available to management as of the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as may be required by applicable securities laws. Neither the TSX.V nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Yahoo
26-05-2025
- Business
- Yahoo
Murchison Minerals Announces Consolidation
BURLINGTON, ON / / May 26, 2025 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) is pleased to announce that, further to its press release of April 2, 2025, it has filed articles of amendment to consolidate its issued and outstanding common shares (each, a "Common Share") on the basis of twenty (20) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the "Consolidation"). The Consolidation was approved by shareholders of the Company at its annual and special meeting held on April 30, 2025. The Common Shares are expected to commence trading on the TSX Venture Exchange on a consolidated basis on or about May 30, 2025. In connection with the Consolidation, a new CUSIP number (CUSIP: 626426407 / ISIN: CA6264264079) has been obtained to replace the previous CUSIP number. Following the Consolidation, the Company will have approximately 14,913,651 Common Shares issued and outstanding. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional Common Shares that would have otherwise been issued have been rounded down to the nearest whole Common Share. The change in the number of issued and outstanding Common Shares resulting from the Consolidation will not materially affect any shareholder's percentage ownership in the Company, although such ownership will be represented by a smaller number of Common Shares. Registered shareholders who hold Common Shares represented by a physical certificate or direct registration system advice ("DRS Advice") will receive a letter of transmittal from the transfer agent for the Company, Computershare Trust Company of Canada, with instructions on how to exchange their existing certificates or DRS Advices for certificates or DRS Advices representing post-Consolidation Common Shares. Beneficial shareholders holding their Common Shares through an intermediary, such as a brokerage firm, bank, dealer or similar organization, should note that such intermediary might have different procedures for processing the Consolidation than the procedures for registered shareholders. Beneficial shareholders who have any questions in this regard are encouraged to contact their intermediary. About Murchison Minerals Ltd. (TSXV: MUR) Murchison is a Canadian‐based exploration Company focused on the exploration and development of the 100% - owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan and on nickel-copper-cobalt exploration at the 100% - owned HPM Project in Quebec. Additional information about Murchison and its exploration projects can be found on the Company's website at For further information, please contact: Troy Boisjoli, President and CEO orErik H Martin, CFOJustin Lafosse, Director Corporate DevelopmentTel: (416) 350‐3776info@ Forward‐Looking Information Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. FLI herein includes, but is not limited to: future drill results; stakeholder engagement and relationships; parameters and methods used with respect to the assay results; the prospects, if any, of the deposits; future prospects at the deposits; and the significance of exploration activities and results. FLI is designed to help you understand management's current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the deposits; the accuracy of key assumptions, parameters or methods used to obtain the assay results; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and nongovernmental actions; and any impacts of COVID-19 on the deposits, the Company's financial position, the Company's ability to secure required funding, or operations. Risks and uncertainties about the Company's business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, which are available at Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. SOURCE: Murchison Minerals Ltd. View the original press release on ACCESS Newswire Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
23-05-2025
- Business
- Associated Press
Altisource Shares to Be Consolidated at a Ratio of 1-for-8
LUXEMBOURG, May 23, 2025 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. ('Altisource' or the 'Company') (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today announced that it will effect a consolidation of its shares (also known as a reverse stock split) at a ratio of 1-for-8, effective as of 12:01 a.m. CET on May 28, 2025 (the 'Share Consolidation'). Altisource's common stock will begin trading on The Nasdaq Global Select Market on a Share Consolidation-adjusted basis at the opening of the market on May 28, 2025. Following the Share Consolidation, Altisource's common stock will continue to trade on The Nasdaq Global Select Market under the symbol 'ASPS' with the new CUSIP number, L0175J 138. The Share Consolidation is intended to allow Altisource to regain compliance with the minimum bid price requirement of $1.00 per share of common stock for continued listing on The Nasdaq Global Select Market. The Share Consolidation will not change the authorized number of shares of Altisource's common stock. No fractional shares will be issued or exchanged in connection with the Share Consolidation, and shareholders who would otherwise be entitled to receive a fractional share in connection with the Share Consolidation will instead receive a cash payment in lieu thereof equal to such fraction multiplied by the closing sales price of Altisource's common stock as reported on The Nasdaq Global Select Market on May 27, 2025. In addition, the Share Consolidation will apply to Altisource's common stock issuable (or deemed issuable, as applicable) upon the exercise or conversion, as applicable, of certain of Altisource's outstanding warrants and stock options, with proportionate adjustments to be made to the exercise prices thereof, in each case in accordance with the respective terms of such warrants and stock options (and the applicable equity incentive plan). The Share Consolidation will reduce the number of issued and outstanding shares of Altisource's common stock from approximately 88,951,925 to approximately 11,118,990. Altisource's board of directors approved the Share Consolidation on March 16, 2025. At Altisource's Extraordinary General Meeting of Shareholders held on May 13, 2025, Altisource's shareholders approved the Share Consolidation with effect as of May 28, 2025. Equiniti Trust Company, LLC is acting as the exchange agent for the Share Consolidation. Shareholders holding their shares in book-entry form or in brokerage accounts need not take any action in connection with the Share Consolidation. Equiniti Trust Company, LLC will provide instructions to any shareholders with certificates regarding the process in connection with the exchange of pre-Share Consolidation stock certificates for ownership in book-entry form or stock certificates on a post-Share Consolidation basis. Shareholders that hold their Altisource common stock through a bank, broker or custodian are encouraged to contact their bank, broker or custodian with any procedural questions regarding the Share Consolidation. Forward-Looking Statements This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements include all statements that are not historical fact, including statements relating to the Share Consolidation, its expected effectiveness and timing, its impact on compliance with listing standards of The Nasdaq Global Select Market, the treatment of fractional shares, and related shareholder actions. These statements may be identified by words such as 'will', 'anticipate,' 'intend,' 'expect,' 'may,' 'could,' 'should,' 'would,' 'plan,' 'estimate,' 'seek,' 'believe,' 'potential' or 'continue' or the negative of these terms and comparable terminology. Such statements are based on expectations as to the future and are not statements of historical fact. Furthermore, forward-looking statements are not guarantees of future performance and involve a number of assumptions, risks, and uncertainties that could cause actual results to differ materially. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to, the Company's ability to effectuate the Share Consolidation in compliance with Luxembourg laws and regulations and the rules of The Nasdaq Stock Market LLC as well as the risks discussed in Item 1A of Part I 'Risk Factors' in our Form 10-K filed with the Securities and Exchange Commission on March 31, 2025, as updated by the information in Item 1A of Part II 'Risk Factors' in our subsequently filed quarterly reports on Form 10-Q. We caution you not to place undue reliance on these forward-looking statements, which reflect our view only as of the date of this press release. We are under no obligation (and expressly disclaim any obligation) to update or alter any forward-looking statements contained herein to reflect any change in our expectations with regard thereto or any change in events, conditions, or circumstances on which any such statement is based. We undertake no obligation to update these statements as a result of a change in circumstances, new information, or future events, except as required by law. About Altisource Altisource Portfolio Solutions S.A. is an integrated service provider and marketplace for the real estate and mortgage industries. Combining operational excellence with a suite of innovative services and technologies, Altisource helps solve the demands of the ever-changing markets we serve. Additional information is available at FOR FURTHER INFORMATION CONTACT: Michelle D. Esterman Chief Financial Officer T: (770) 612-7007 E: [email protected]
Yahoo
22-05-2025
- Business
- Yahoo
Africa Energy Announces Update To Consolidation
VANCOUVER, BC, May 22, 2025 /CNW/ - Africa Energy Corp. (TSX Venture: AFE) (Nasdaq First North: AEC) ("Africa Energy" or the "Company") announces an update to the consolidation of common shares of the Company (the "Shares"), further to its press releases on January 30, 2025 and March 31, 2025. The consolidation of the Shares on a 5:1 basis (the "Consolidation") was approved by the Company's shareholders at the special meeting of shareholders held on March 27, 2025. View PDF version. Prior to the Consolidation, the Company has 2,395,812,249 Shares issued and outstanding. Following the Consolidation, the Company will have approximately 479,162,450 Shares issued and outstanding. The Consolidation is subject to approval by the TSX Venture Exchange (the "TSXV"). The record date and effective date of the Consolidation is expected to be May 30, 2025 (the "Effective Date"), with the post-Consolidation Shares commencing trading on the TSXV at market open on May 30, 2025, and on Nasdaq First North Growth Market ("Nasdaq First North") at market open on June 2, 2025. There is expected to be a brief halt of trading of the Shares on Nasdaq First North from May 28, 2025 to May 30, 2025. The last day of trading of the Shares on Nasdaq First North prior to the halt is expected to be May 27, 2025. The Share trading symbols "AFE" for the TSXV and "AEC" for Nasdaq First North will remain the same. The current CUSIP for the pre-Consolidation Shares is 00830W105 and the new CUSIP for the post-Consolidation Shares will be 00830W501. The current ISIN for the pre-Consolidation Shares is CA00830W1059 and the new ISIN for the post-Consolidation Shares will be CA00830W5019. TSX Venture Exchange Shareholders For holders of Shares on the TSXV, no fractional Shares will be issued as a result of the Consolidation. Any fractional interest in Shares that would otherwise result from the Consolidation will be rounded up to the next whole Share, if the fractional interest is equal to or greater than one-half of a Share and rounded down to the next whole Share if the fractional interest is less than one-half of a Share. In all other respects, the Company's post-Consolidation Shares will have the same attributes as its pre-Consolidation Shares. Euroclear Registered Securities Shareholders No fractional Shares will be issued to holders of Shares through Euroclear Sweden AB ("Euroclear Registered Securities") as a result of the Consolidation. In accordance with Euroclear Sweden's Rules for Issuers and Issuer Agents, any fractional interest in Euroclear Registered Securities that would otherwise result from the Consolidation will be rounded down to the next whole Share. Any surplus Shares will be transferred into the Company's ownership and then sold by Bergs Securities, acting as issuer agent in relation to the Consolidation, or (if the Shares are held through an intermediary) by the intermediary on or about June 4, 2025. The incoming payment from the surplus Shares will, after deductions for sales costs, be distributed to the holders of Euroclear Registered Securities covered by the rounding down process on or about June 11, 2025. In all other respects, the Company's post-Consolidation Shares will have the same attributes as its pre-Consolidation Shares. Holders of Euroclear Registered Securities of the Company do not need to take any action to participate in the Consolidation. Letters of Transmittal A letter of transmittal will be mailed to registered shareholders as at the Effective Date, providing instructions with respect to surrendering share certificates representing pre-Consolidation Shares in exchange for post-Consolidation Shares issued as a result of the Consolidation. Until surrendered, each certificate representing pre-Consolidation Shares will be deemed to represent the number of post-Consolidation Shares the holder received as a result of the Consolidation. Shareholders who hold their Shares in brokerage accounts or in book-entry form, or holders of Euroclear Registered Securities, are not required to take any action. The exercise or conversion price and/or the number of Shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation. About Africa Energy Energy Corp. is a Canadian oil and gas exploration company focused on South Africa. The Company is listed in Toronto on the TSX Venture Exchange (ticker "AFE") and in Stockholm on Nasdaq First North Growth Market (ticker "AEC"). Important information This is information that Africa Energy is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact persons set out above on May 22, 2025, at 4:30 a.m. ET. The Company's certified adviser on Nasdaq First North Growth Market is Bergs Securities AB, +46 739 49 62 50, This press release is not for distribution to United States news services or for dissemination in the United States, and does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. These securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any State securities laws, and may not be offered or sold in the United States or to U.S. persons unless registered or exempt therefrom. THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES. Forward Looking Statements This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws, including, but not limited to, the terms and timing for completion of the proposed Consolidation, receipt of all required approvals, including TSXV approval in respect of the Consolidation, and the number of Shares expected to be outstanding post-Consolidation. All information, other than information regarding historical fact, that addresses activities, events or developments that the Company believes, expects or anticipates will or may occur in the future is forward-looking information. The use of any of the words "will", "expected", "planned", "intends", "may" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information. The forward-looking information contained in this press release is based on a number of assumptions made by management of the Company. Readers are cautioned that assumptions used in the preparation of such information may prove to be incorrect. The forward- looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information. Neither 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 Africa Energy Corp. View original content to download multimedia:
Globe and Mail
13-05-2025
- Business
- Globe and Mail
Pineapple Financial Inc. Announces Proposed Share Consolidation to Strengthen Capital Structure and Support Long-Term Growth
Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Pineapple Financial Inc. (NYSE: PAPL) ("Pineapple" or the "Company"), a tech-enabled mortgage brokerage and fintech platform, today announced that its Board of Directors has approved the submission of a special resolution to shareholders to authorize a consolidation (the "Consolidation") of the Company's issued and outstanding common shares on the basis of between 10 and 20 pre-Consolidation shares for each one post-Consolidation share. The proposed Consolidation will be presented to shareholders for approval at a special meeting scheduled for June 26, 2025, with a record date set for May 23, 2025. "This proposed share consolidation reflects our continued efforts to strengthen our capital structure, enhance our trading profile, and position the Company for future growth," said Shubha Dasgupta, CEO of Pineapple Financial."As we continue to grow our volume, expand our verticals, and improve operational efficiency, we believe this step supports our long-term commitment to delivering shareholder value." The Consolidation, if approved, is expected to increase the per-share trading price of the Company's common shares, which may improve the Company's ability to attract institutional investors and meet minimum share price requirements for continued listing on the NYSE American exchange. It does not affect any shareholder's proportionate ownership interest or voting rights, except for minor rounding adjustments. Further details regarding the Consolidation and special meeting will be included in the management information circular to be filed and mailed to shareholders in accordance with applicable securities laws. About Pineapple Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge cloud-based tools and AI-driven systems to enable its brokers to help Canadians realize their dream of owning a home. Pineapple is active within the community and is proud to sponsor charities across Canada to improve the lives of fellow Canadians. Follow us on social media: Instagram: @pineapplemortgage @empoweredbypineapple Facebook: Pineapple Mortgage LinkedIn: Pineapple Mortgage Safe Harbor Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. They are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and economic needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "is/are likely to," "potential," "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations that arise after the date hereof, except as may be required by law. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the registration statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results. It encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC. Additional factors are discussed in the Company's filings with the SEC, which are available for review at Media Contact: For media inquiries, please contact Shubha Dasgupta, Chief Executive Officer, at Pineapple. Email: shubha@ Related Links: Investor Relations Contact: For investor relations inquiries, please contact Pineapple Financial Inc.
