Silver Spruce Resources Inc. Announces Share Consolidation Proposal
Silver Spruce Resources Inc. (TSXV:SSE) has announced a proposal to consolidate its common shares on a 15:1 basis, subject to shareholder approval at the annual and special meeting on October 29, 2024, and TSX Venture Exchange acceptance. The Board believes this consolidation will benefit the company by facilitating future financing and business development activities. It may also enhance share marketability by potentially increasing the price per share, attracting more institutional and other investors.
As of September 19, 2024, the company had 322,547,832 shares outstanding at $0.01 per share. Post-consolidation, this would reduce to approximately 21,503,188 shares. The consolidation, if approved, must be implemented within 18 months of the special resolution approval. The Board retains the right to abandon the consolidation if deemed not in the company's best interests. The company's name will remain unchanged.
Silver Spruce Resources Inc. (TSXV:SSE) ha annunciato una proposta per consolidare le proprie azioni ordinarie in un rapporto di 15:1, subordinata all'approvazione degli azionisti nell'assemblea annuale e straordinaria del 29 ottobre 2024, e all'accettazione da parte della TSX Venture Exchange. Il Consiglio ritiene che questo consolidamento avvantaggerà l'azienda facilitando le future attività di finanziamento e sviluppo aziendale. Potrebbe anche migliorare la commerciabilità delle azioni aumentando potenzialmente il prezzo per azione, attirando così più investitori istituzionali e altri.
Alla data del 19 settembre 2024, l'azienda aveva 322.547.832 azioni in circolazione a $0.01 per azione. Dopo il consolidamento, il numero sarebbe ridotto a circa 21.503.188 azioni. Il consolidamento, se approvato, deve essere attuato entro 18 mesi dall'approvazione della risoluzione speciale. Il Consiglio si riserva il diritto di abbandonare il consolidamento se ritenuto non nel migliore interesse dell'azienda. Il nome dell'azienda rimarrà invariato.
Silver Spruce Resources Inc. (TSXV:SSE) ha anunciado una propuesta para consolidar sus acciones ordinarias en una base de 15:1, sujeta a la aprobación de los accionistas en la reunión anual y especial del 29 de octubre de 2024, y a la aceptación por parte de la TSX Venture Exchange. La Junta cree que esta consolidación beneficiará a la empresa al facilitar futuras actividades de financiamiento y desarrollo empresarial. También podría mejorar la comerciabilidad de las acciones al aumentar potencialmente el precio por acción, atrayendo así a más inversores institucionales y otros.
A partir del 19 de septiembre de 2024, la empresa tenía 322.547.832 acciones en circulación a $0.01 por acción. Tras la consolidación, esto se reduciría aproximadamente a 21.503.188 acciones. La consolidación, si se aprueba, deberá implementarse dentro de los 18 meses siguientes a la aprobación de la resolución especial. La Junta se reserva el derecho de abandonar la consolidación si se considera que no es lo mejor para la empresa. El nombre de la empresa permanecerá sin cambios.
실버 스프루스 리소스 Inc. (TSXV:SSE)는 주주 승인이 필요하고 2024년 10월 29일의 연례 및 특별 회의에서 승인받는 조건으로 15:1 비율로 보통주를 통합하겠다는 제안을 발표했습니다. 이사회는 이번 통합이 미래 자금 조달 및 사업 개발 활동을 용이하게 하여 회사에 이익이 될 것이라고 믿고 있습니다. 또한 주가를 잠재적으로 증가시켜 주식의 매력도를 향상시켜 더 많은 기관 및 기타 투자자들을 유치할 수 있습니다.
2024년 9월 19일 현재, 회사는 주당 $0.01에 322,547,832주의 발행 주식을 보유하고 있습니다. 통합 후, 이 수치는 약 21,503,188주로 줄어들 것입니다. 통합이 승인될 경우, 특별 결의안 승인의 18개월 이내에 시행해야 합니다. 이사회는 회사의 최선의 이익이 아니라고 판단될 경우 통합을 포기할 권리를 보유합니다. 회사의 이름은 변경되지 않습니다.
Silver Spruce Resources Inc. (TSXV:SSE) a annoncé une proposition de consolidation de ses actions ordinaires sur une base de 15:1, soumise à l'approbation des actionnaires lors de l'assemblée annuelle et extraordinaire le 29 octobre 2024, ainsi qu'à l'acceptation par la TSX Venture Exchange. Le conseil d'administration estime que cette consolidation profitera à l'entreprise en facilitant le financement futur et les activités de développement commercial. Elle pourrait également améliorer la commercialité des actions en augmentant potentiellement le prix par action, attirant ainsi davantage d'investisseurs institutionnels et autres.
À la date du 19 septembre 2024, l'entreprise comptait 322.547.832 actions en circulation à 0,01 $ par action. Après la consolidation, ce nombre serait réduit à environ 21.503.188 actions. La consolidation, si elle est approuvée, doit être mise en œuvre dans les 18 mois suivant l'approbation de la résolution spéciale. Le conseil d'administration se réserve le droit d'abandonner la consolidation si cela est jugé non dans le meilleur intérêt de l'entreprise. Le nom de l'entreprise restera inchangé.
Silver Spruce Resources Inc. (TSXV:SSE) hat einen Vorschlag zur Konsolidierung seiner Stammaktien im Verhältnis 15:1 angekündigt, vorbehaltlich der Zustimmung der Aktionäre bei der jährlichen und außerordentlichen Hauptversammlung am 29. Oktober 2024 sowie der Genehmigung durch die TSX Venture Exchange. Der Vorstand ist der Ansicht, dass diese Konsolidierung dem Unternehmen zugutekommen wird, indem sie zukünftige Finanzierungs- und Geschäftsentwicklungsaktivitäten erleichtert. Sie könnte auch die Marktgängigkeit der Aktien verbessern, indem sie möglicherweise den Preis pro Aktie erhöht und so mehr institutionelle und andere Investoren anzieht.
Am 19. September 2024 hatte das Unternehmen 322.547.832 ausgegebene Aktien zu einem Preis von 0,01 $ pro Aktie. Nach der Konsolidierung würde dies auf etwa 21.503.188 Aktien sinken. Die Konsolidierung, falls genehmigt, muss innerhalb von 18 Monaten nach der Genehmigung des Sonderbeschlusses umgesetzt werden. Der Vorstand behält sich das Recht vor, die Konsolidierung abzulehnen, wenn dies nicht im besten Interesse des Unternehmens ist. Der Name des Unternehmens bleibt unverändert.
- Potential to facilitate future financing and business development activities
- May enhance share marketability and attract institutional investors
- Could increase the price per share, potentially expanding the investor pool
- Reduction in the total number of outstanding shares
- No guarantee of increased share price or improved marketability
- Implementation subject to shareholder and TSX Venture Exchange approval
HALIFAX, NOVA SCOTIA / ACCESSWIRE / October 1, 2024 / (TSXV:SSE) Silver Spruce Resources Inc. ("Silver Spruce" or the "Company"), is pleased to announce that it is proposing to consolidate its common shares on the basis of one post-consolidation common share for every fifteen pre-consolidation common shares issued and outstanding (the "Consolidation"). The shareholders of the Company will be asked to vote in favour of the Consolidation at the Company's annual and special meeting of shareholders to be held on October 29, 2024. The Consolidation is also subject to TSX Venture Exchange (the "Exchange") acceptance.
The Company's board of directors (the "Board") believes that it would be in the best interests of the Company and its shareholders to effect the Consolidation in order to facilitate future financing and business development activities. The Consolidation may enhance the shares' marketability as an increase in the price per share is likely to increase the interest of institutional and other investors in the Company's shares, thereby expanding the pool of investors that may consider purchasing the shares and investing in the Company.
If the Consolidation is implemented, its primary effect would be to proportionately decrease the number of issued and outstanding common shares by a factor equal to the consolidation ratio. At the close of business on September 19, 2024 (the record date), the closing price of the shares on the Exchange was
If the Consolidation is approved by the shareholders and accepted by the Exchange, the Consolidation would not become effective until the Board files the articles of amendment to implement the Consolidation. In no event shall the Consolidation occur later than eighteen months after the date on which the special resolution is approved. The special resolution will also authorize the Board to elect not to proceed with, and abandon, the Consolidation at any time if it determines, in its sole discretion, that the Consolidation is not in the Company's best interests.
The Company's name will not be changed in conjunction with the proposed Consolidation.
About the Company
Silver Spruce Resources Inc. is a Canadian junior exploration company holding
Forward-Looking Statements
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. The Company is not in control of metals prices and these could vary to make development uneconomic. The forward-looking statements in this news release, including, without limitation, forward-looking statements relating to the Consolidation, are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
CAUTIONARY STATEMENT:
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.
For further information:
Greg Davison, PGeo, Vice-President Exploration and Director
(250) 521-0444
gdavison@silverspruceresources.com
Michael Kinley, CEO and Director
(902) 402-0388
mkinley@silverspruceresouces.com
info@silverspruceresouces.com
www.silverspruceresources.com
SOURCE: Silver Spruce Resources, Inc.
View the original press release on accesswire.com
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