Yahoo Finance Fiddlehead Announces Share Consolidation
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CALGARY, AB, July 30, 2024 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") announces that, effective on or about July 31, 2024, the Company will complete a consolidation of its issued and outstanding common shares (the "Common Shares") on the basis of one (1) new Common Share for every existing two (2) Common Shares (the "Consolidation"). The Consolidation was approved by the Company's Board of Directors on July 26, 2024.
Immediately prior to the Consolidation there are expected to be 13,841,757 Common Shares issued and outstanding, and it is expected that there will be approximately 6,920,881 Common Shares following the Consolidation. Each shareholder's percentage ownership in the Company and proportional voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any resulting fractional Common Shares. Where the exchange results in a fractional Common Share, the number of Common Shares will be rounded up to the next greater whole number of Common Shares if the fractional entitlement is equal to or greater than 0.5 and will be, without any additional compensation, rounded down to the next lesser whole number of Common Shares if the fractional entitlement is less than 0.5.
The record date for the Consolidation will be July 31, 2024. A new CUSIP number of 31572D203 will replace the old CUSIP number of 31572D104 to distinguish between the pre- and post- consolidated Common Shares. The Company's name will remain unchanged.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding warrants, stock options and other securities exercisable for or convertible into Common Shares will be proportionately adjusted in connection with the Consolidation.
Disclaimer for Forward-Looking Information
This news release contains certain forward-looking statements within the meaning of applicable Canadian securities legislation. Forward looking statements are frequently characterized by words such as "plan", "expect", "project", "target", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur, including without limitation statements relating to the Consolidation. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Company cannot assure that actual results will be consistent with these forward-looking statements. They are made as of the date hereof and are subject to change and the Company assumes no obligation to revise or update them to reflect new circumstances, except as required by law.
SOURCE Fiddlehead Resources Corp.
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