Business
A.I.S. Resources Announces a 1-for-10 Reverse Stock Split
VANCOUVER, British Columbia, March 05, 2024 (GLOBE NEWSWIRE) -- The Board of A.I.S. Resources Limited (TSX-V: AIS, OTCQB: AISSF, FRA: 5YHA) (the “Company” or “A
About this update from Ais Resources Ltd
[{"type":"text","content":" VANCOUVER, British Columbia, March 05, 2024 (GLOBE NEWSWIRE) -- The Board of A.I.S. Resources Limited (TSX-V: AIS, OTCQB: AISSF, FRA: 5YHA) (the “Company” or “AIS”) wishes to announce the decision to proceed with a 1-for-10 reverse stock split, also known as a stock consolidation, stock merge, or share rollback, applicable to all issued shares and outstanding warrants and options. Effective at the commencement of trading on March 8, 2024 the Company is expected to begin trading on the TSX Venture Exchange on a post-consolidated basis under the stock symbol “AIS”. The new CUSIP and ISIN are 001431303 and CA0014313039, respectively. Andrew Neale, President & CEO of AIS commented, “This decision will better position the Company to develop its existing assets and evaluate other investment opportunities that have recently be presented to the Company. This decision has not been taken lightly, and is a necessary first step in the corporate restructuring of AIS that has been discussed in detail between myself and the board. We wish to remind our shareholders that this action doesn’t impact the overall market capitalization of the Company.” As of March 5, 2024, AIS has 204,215,409 shares issued, 10,401,667 options issued, and 26,300,000 warrants issued, for a fully diluted total of 240,917,076. After the Consolidation there will be approximately 20,421,540 common shares issued and outstanding. The Company will not be issuing fractional post-Consolidation common shares to shareholders in connection with the Consolidation. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional common share, the number of post-Consolidation common shares issued to such holder of common shares shall 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 shall be rounded down to the next lesser whole number of common shares if the fractional entitlement is less than 0.5. In calculating such fractional interests, all common shares held by a beneficial holder shall be aggregated. The exercise or conversion price and the number of common shares issuable under any of the Company's outstanding stock options and warrants will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof. No...