Business
Arctic Fox Minerals Announces Name Change, Consolidation and Symbol Change
VANCOUVER, British Columbia, March 08, 2023 (GLOBE NEWSWIRE) -- Arctic Fox Minerals Corp. (CSE: FOXY) (the “Company” or “Arctic Fox”) announces that pursuant to
About this update from Collective Metals Inc
[{"type":"text","content":" VANCOUVER, British Columbia, March 08, 2023 (GLOBE NEWSWIRE) -- Arctic Fox Minerals Corp. (CSE: FOXY) (the “Company” or “Arctic Fox”) announces that pursuant to receipt of shareholder’s approval on February 23, 2023, the Company will be consolidating all of its issued and outstanding share capital (the “Common Shares”), changing its name to Collective Metals Inc. and stock symbol to “COMT”. The consolidation will be on the basis of every ten (10) old Common Shares into one (1) new Common Share (the “Share Consolidation”), effective March 13, 2023 (the “Record Date”). As a result of the Share Consolidation, the issued and outstanding Common Shares will be reduced to approximately 8,118,634. Any fractional Post-Consolidation Shares of the Company upon effectiveness of the Consolidation shall be converted into whole Post-Consolidation Shares such that each fractional common share remaining after the Consolidation that is less than 1/2 of a Post-Consolidation Share be cancelled and each fractional common share that is at least 1/2 of a Post-Consolidation Share shall be changed to one whole Post-Consolidation Share. The exercise or conversion price and the number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon the Share Consolidation. Shareholders of record as at the Record Date will receive a letter of transmittal providing instructions for the exchange of their Common Shares as soon as practicable following the Record Date. New ISIN: CA1939291060 New CUSIP: 193929106 The Common Shares are expected to begin trading under the name of Collective Metals Inc. on a post-Share Consolidation basis on the Canadian Securities Exchange when markets open on March 12, 2023 under the trading symbol: “COMT” The Company believes that the Consolidation will make the Company more attractive to financing opportunities, and will allow for the restructuring and settlement of certain existing liabilities. Completion of the Share Consolidation, name change and symbol change remains subject to completion of appropriate regulatory filings with the Canadian Securities Exchange. About the Company Arctic Fox is a resource exploration company specialized in precious metals exploration in the Northwest Territories. Arctic Fox is currently advancin...