Business
Criterium Energy Ltd. Consolidation of Common Shares
Calgary, Alberta--(Newsfile Corp. - June 6, 2023) - Criterium Energy Ltd. (TSXV: CEQ) (" Criteriu...
About this update from Criterium Energy Ltd
[{"type":"text","content":"Criterium Energy Ltd. Consolidation of Common SharesCalgary, Alberta--(Newsfile Corp. - June 6, 2023) - Criterium Energy Ltd. (TSXV: CEQ) (\"Criterium\" or the \"Corporation\"), an independent upstream energy development and production company focused in Southeast Asia, is pleased to announce a five (5) to one (1) consolidation of Common Shares effective June 7, 2023. This consolidation was approved by shareholder resolution at the Corporation's annual general and special meeting which took place May 24, 2023 (the \"Meeting\"). For further information regarding the consolidation, please refer the management information circular in respect of the Meeting, a copy of which is available on the Corporation's profile at www.sedar.com.HighlightsAll Common Shares will be consolidated on a 5:1 ratio; andAll outstanding warrants will also be consolidated at a 5:1 ratio.The resolution authorizing a consolidation passed with greater than 98% approval of votes cast at the Corporation's annual general and special meeting. The consolidation of shares will allow the exercise of existing warrants related to the September 26, 2022 private placement. Criterium would also like to remind legacy Softrock Minerals warrant holders that there are three weeks left to exercise their warrants which expire June 15, 2023 and have an exercise price of $0.05. The warrants were issued on June 7, 2018 and as of the date of this press release, approximately 7,446,781 remain outstanding. The number of Softrock Mineral warrants outstanding on a post-consolidated basis are 1,489,356 at an exercise price of $0.25. Criterium has notified the TSX Venture Exchange (the \"TSXV\") of the consolidation and will file articles of amendment. Common Shares are expected to begin trading on a post consolidation basis on or about June 7, 2023. The new CUSIP number for Common Shares will be 226747202 and the ISIN number for the Common Shares will be CA2267472025.The Corporation's transfer agent, Computershare Investor Services Inc. (\"Computershare\"), will act as the exchange agent for the consolidation. In connection with the consolidation, Computershare has sent a letter of transmittal to registered shareholders holding their Common Shares in certificated form to exchange their old Common Share certificates for new Common Share certificates, in accordance with the instructions ...