Business
Blue Moon Announces Proposed Share Consolidation
TORONTO, March 03, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“ Blue Moon ”...
About this update from Blue Moon Metals Inc
[{"type":"text","content":"Blue Moon Announces Proposed Share Consolidation\n\n\n\n TORONTO, March 03, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“\n \n Blue Moon\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: MOON\n \n ), is pleased to announce that the Directors have approved a consolidation of its share capital on the basis of one (1) ‎new common share for\n \n up to\n \n every existing ten (10) common shares (the “\n \n Consolidation\n \n ”), subject to regulatory ‎approval, including approval of the TSX Venture Exchange. ‎The final Consolidation ratio is subject to determination by the Board, in compliance with regulatory requirements.‎\n \n\n The effective date of the Consolidation and the new CUSIP and ISIN of the post-Consolidation common shares will be announced in a separate news release once the Company receives approval from the TSXV. The Company’s name and trading symbol will ‎remain unchanged. ‎\n \n\n As a result of the Consolidation, and assuming the maximum ratio of 10 pre-Consolidation common shares to 1 post-Consolidation common share, it is expected that the 451,492,486 common shares which are currently issued and outstanding, will be reduced to approximately 45,149,248 common shares, subject to rounding.‎ The number of post-Consolidation common shares outstanding will depend on the final Consolidation ratio determined by the Board, in compliance with regulatory requirements.‎ Where the exchange 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, without any additional compensation, 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, and, in calculating such fractional interests, all common shares registered in the ‎name of and held by such shareholder shall be aggregated.\n \n\n The Directors believe the Consolidation will ‎enhance the marketability of the common shares as an investment and help to facilitate additional financings to ‎fund future operations.\n \n\n The Consolidation is ...