S2 Minerals Inc. Announces Share Consolidation
S2 Minerals announces a share consolidation effective December 5, 2024, where shareholders will receive one post-consolidation common share for every two pre-consolidation shares. The consolidation will reduce outstanding shares from 37,937,649 to approximately 18,968,824. Shareholders' percentage ownership and voting power will remain unchanged, except for minor adjustments due to fractional shares treatment. No fractional shares will be issued, and numbers will be rounded down. The stock will continue trading on CSE under symbol 'STWO' with new CUSIP number 78485F205.
S2 Minerals annuncia una consolidazione delle azioni che avrà effetto il 5 dicembre 2024, in cui gli azionisti riceveranno una comune azione post-consolidazione per ogni due azioni pre-consolidazione. La consolidazione ridurrà le azioni in circolazione da 37.937.649 a circa 18.968.824. La percentuale di proprietà e il potere di voto degli azionisti rimarranno invariati, eccetto per piccoli aggiustamenti dovuti al trattamento delle azioni frazionarie. Non verranno emesse azioni frazionarie e i numeri saranno arrotondati per difetto. Il titolo continuerà a essere scambiato sulla CSE con il simbolo 'STWO' e con un nuovo numero CUSIP 78485F205.
S2 Minerals anuncia una consolidación de acciones que será efectiva el 5 de diciembre de 2024, donde los accionistas recibirán una acción común post-consolidación por cada dos acciones pre-consolidación. La consolidación reducirá las acciones en circulación de 37,937,649 a aproximadamente 18,968,824. El porcentaje de propiedad y el poder de voto de los accionistas se mantendrán sin cambios, excepto por ajustes menores debido al tratamiento de acciones fraccionarias. No se emitirán acciones fraccionarias y los números se redondearán hacia abajo. La acción seguirá cotizando en la CSE bajo el símbolo 'STWO' con un nuevo número CUSIP 78485F205.
S2 미네랄스는 2024년 12월 5일부터 주식 통합을 시행한다고 발표했습니다. 이로 인해 주주들은 통합 후 보통주 1주를 통합 전 보통주 2주에 대해 받게 됩니다. 이번 통합으로 발행 주식 수는 37,937,649주에서 약 18,968,824주로 감소합니다. 주주들의 소유 비율과 의결권은 사소한 조정 외에는 변하지 않으며, 이는 분할 주식 처리로 인한 것입니다. 분할 주식은 발행되지 않으며, 숫자는 내림 처리됩니다. 이 주식은 CSE에서 'STWO' 기호로 계속 거래되며 새로운 CUSIP 번호는 78485F205입니다.
S2 Minerals annonce une consolidation d'actions effective le 5 décembre 2024, où les actionnaires recevront une action ordinaire après consolidation pour chaque deux actions avant consolidation. La consolidation réduira le nombre d'actions en circulation de 37 937 649 à environ 18 968 824. Le pourcentage de propriété et le pouvoir de vote des actionnaires resteront inchangés, sauf pour de légers ajustements dûs au traitement des actions fractionnaires. Aucune action fractionnaire ne sera émise, et les chiffres seront arrondis à la baisse. L'action continuera d'être cotée sur la CSE sous le symbole 'STWO' avec un nouveau numéro CUSIP 78485F205.
S2 Minerals kündigt eine Aktienkonsolidierung an, die am 5. Dezember 2024 in Kraft tritt, wobei die Aktionäre eine nach der Konsolidierung ausgegebene Stammaktie für jeweils zwei Stammaktien vor der Konsolidierung erhalten. Die Konsolidierung wird die ausstehenden Aktien von 37.937.649 auf etwa 18.968.824 reduzieren. Der prozentuale Besitz und die Stimmkraft der Aktionäre bleiben unverändert, abgesehen von geringfügigen Anpassungen aufgrund der Behandlung von Bruchaktien. Es werden keine Bruchaktien ausgegeben und die Zahlen werden abgerundet. Die Aktie wird weiterhin an der CSE unter dem Symbol 'STWO' mit einer neuen CUSIP-Nummer 78485F205 gehandelt.
- None.
- Share consolidation (reverse split) often indicates company struggles
- No cash compensation provided for fractional shares
Toronto, Ontario--(Newsfile Corp. - November 28, 2024) - S2 Minerals Inc. (CSE: STWO) ("S2" or the "Company") announces that the Company's board of directors has approved consolidating (the "Consolidation") its common shares ("Common Shares") on the basis of one post-Consolidation Common Share for every two pre-Consolidation Common Shares, effective December 5, 2024 (the "Effective Date").
The Consolidation was one of the items of business approved by the Company's shareholders at the annual and special meeting of shareholders held on November 27, 2024. As a result of the Consolidation, the number of issued and outstanding Common Shares will be reduced from 37,937,649 to approximately 18,968,824. Each shareholder's percentage ownership in the Company and proportional voting power will remain unchanged, except for minor adjustments resulting from the treatment of fractional shares. No fractional shares will be issued in connection with the Consolidation. If a holder of Common Shares would otherwise be entitled to a fraction of a share, then the number of post-Consolidation Common Shares issuable to such shareholder shall be rounded down to the next lower whole number. No cash consideration will be paid in respect of fractional shares.
The Common Shares will continue to trade on the CSE under the symbol "STWO" on a post-Consolidation basis, under a new CUSIP number - 78485F205. The Common Shares are expected to begin trading on a post-Consolidation basis on the CSE when markets open on December 5, 2024.
A letter of transmittal with respect to the Consolidation was mailed to registered shareholders of the Company as of October 28, 2024, along with the Company's management information circular dated October 28, 2024. All registered shareholders with physical certificates or direct registration statements ("DRS") will be required to send their respective certificates and/or DRS representing pre‐Consolidation Common Shares, along with a completed letter of transmittal, to the Company's transfer agent, TSX Trust Company (the "Transfer Agent"), in accordance with the instructions provided in the letter of transmittal. A copy of the letter of transmittal is available on the Company's SEDAR+ profile at sedarplus.ca. All shareholders who submit a duly completed letter of transmittal along with their respective pre‐Consolidation Common Share certificate(s)/DRS to the Transfer Agent, will receive a post‐Consolidation Common Share certificate or DRS. Shareholders who hold their Common Shares through a broker or other intermediary and who do not have Common Shares registered in their name, will not need to complete a letter of transmittal. Until surrendered, each share certificate representing pre-Consolidation shares will represent the number of whole post-Consolidation shares to which the holder is entitled as a result of the Consolidation.
About S2 Minerals Inc.
S2 Minerals Inc. is a Canadian mineral exploration company and holds the Sandy Lake project in Ontario. The Sandy Lake project comprises approximately 167,000 acres of contiguous mineral claims in the Sandy Lake Archean Greenstone Belt, located approximately 140 miles north of Red Lake, Ontario. S2 beneficially holds a
For further information please contact:
Dan Noone
CEO
+1.416.628.5904
Email: info@s2minerals.com
Forward-Looking Information and Statements
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance and include statements regarding: the timing of the Consolidation, including the Effective Date; the effect of the Consolidation on the Company's capital structure, including the number of Common Shares outstanding after the Consolidation; the treatment of fractional shares; and the expected trading date of the post-Consolidation Common Shares on the CSE. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" 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. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks relating to general business, economic, competitive, policy and social uncertainties, and risks relating to the failure to receive all requisite regulatory approvals.
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 contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231658
FAQ
What is the share consolidation ratio for S2 Minerals (STWO) announced on November 28, 2024?
When will S2 Minerals (STWO) share consolidation take effect?
How many shares will S2 Minerals (STWO) have outstanding after the consolidation?
What happens to fractional shares in S2 Minerals (STWO) consolidation?
