St. Anthony Gold Corp. Announces Share Consolidation
St. Anthony Gold Corp. (CSE:STAG)(OTC PINK:MTEHF) announced a share consolidation on a 4-for-1 basis on November 3, 2021. This change will reduce the current 123,029,341 outstanding shares to approximately 30,757,335 shares post-consolidation. The consolidation aims to enhance flexibility for financing opportunities and will also affect outstanding options and warrants at the same ratio. The consolidation is subject to approval by the Canadian Securities Exchange. The company focuses on advancing high-value mineral properties.
- None.
- Share consolidation may lead to decreased liquidity as the number of shares in circulation will significantly drop.
- Shareholder dilution concerns arise as existing shares are consolidated, potentially impacting shareholder value.
VANCOUVER, BC / ACCESSWIRE / November 10, 2021 / St. Anthony Gold Corp. ("St. Anthony" or the "Company") (CSE:STAG)(FRA:M1N)(OTC PINK:MTEHF) announced that it intends to proceed with a consolidation of its common shares (each, a "Share") on the basis of four (4) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation"). The Board of Directors approved the consolidation on November 3, 2021.
The Company currently has 123,029,341 Shares issued and outstanding. Accordingly, once the Consolidation is effective, the Company will have approximately 30,757,335 Shares issued and outstanding, assuming there are no other changes in the issued capital of the Company.
The Company intends to also proceed with consolidating its outstanding options and warrants on a ratio of four (4) to one (1), with the result that each consolidated option and warrant will entitle the holder to acquire one Share at an exercise price of four (4) times its original exercise price.
The Consolidation is being proposed in order to provide the Company with increased flexibility to seek additional financing opportunities and is subject to the approval of the Canadian Securities Exchange. The Company will not change its name as part of the Consolidation.
About St. Anthony Gold Corp.
St. Anthony Gold Corp., a Canadian-based mineral exploration corporation, is focused on identifying and advancing high-value mineral properties.
FOR ADDITIONAL INFORMATION SEE THE COMPANY'S WEB SITE AT
https://stanthonygoldcorp.com
Email to info@stanthonygoldcorp.com
Contact: Peter Wilson CEO - 604-649-0945
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information about the Company is available on www.SEDAR.com under the Company's profile.
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. 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. Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. 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.
SOURCE: St. Anthony Gold Corp.
View source version on accesswire.com:
https://www.accesswire.com/672046/St-Anthony-Gold-Corp-Announces-Share-Consolidation
FAQ
What is the share consolidation ratio for St. Anthony Gold Corp. (MTEHF)?
Why is St. Anthony Gold Corp. consolidating its shares?
When was the share consolidation for St. Anthony Gold Corp. approved?
How many shares will St. Anthony Gold Corp. have after the consolidation?
What will happen to options and warrants during the consolidation process for MTEHF?
