Business
Erdene Provides Update on Share Consolidation
HALIFAX, Nova Scotia, Aug. 25, 2025 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:...
About this update from Erdene Resource Development Corporation
[{"type":"text","content":" Erdene Provides Update on Share Consolidation\n\n\n\n HALIFAX, Nova Scotia, Aug. 25, 2025 (GLOBE NEWSWIRE) --\n \n Erdene Resource Development Corp. (TSX: ERD; MSE: ERDN; OTCQB: ERDCF) (\"Erdene\" or the \"Company\")\n \n is pleased to provide an update on the proposed consolidation (the \"\n \n Consolidation\n \n \") of Company's issued and outstanding common shares (the \"\n \n Common Shares\n \n \") on the basis of one (1) post-Consolidation Common Share for every six (6) pre-Consolidation Common Shares, as approved at the 2025 Annual General and Special Meeting of Shareholders, held June 25, 2025.\n \n\n\n Share Consolidation\n \n\n\n The Company's Board of Directors has determined to implement the Consolidation effective on September 2, 2025 (the \"\n \n Effective Date\n \n \"), subject to the receipt of all necessary regulatory approvals. In connection with the Consolidation, trading of the Common Shares will be halted on the Mongolian Stock Exchange commencing August 27, 2025, while trading will continue on the Toronto Stock Exchange. No fractional post-Consolidation Common Shares will be issued in connection with the Consolidation. Any fractional post-Consolidation Common Share arising from the Consolidation will be rounded up to the nearest whole Common Share.\n \n\n Upon completion of the Consolidation, the post-Consolidation Common Shares will continue to trade on the TSX under the stock symbol \"ERD\" under a new CUSIP: 29480N404 and new ISIN: CA29480N4049. The post-Consolidation Common Shares are expected to commence trading on the TSX at market open on or about September 5, 2025.\n \n\n Registered shareholders of the Company will receive a letter of transmittal from the Company's transfer agent, providing instructions for the exchange of their pre-Consolidation Common Shares as soon as practicable following the Effective Date. The letter of transmittal will contain instructions on how to surrender to the transfer agent the certificate(s) representing the pre-Consolidation Common Shares. The transfer agent will send to each registered shareholder who follows the instructions provided in the letter of transmittal a new share certificate representing the number of post-Consolidation Common Shares to which the shareholder is entitled rounded up to the nearest whole number or, alternatively, a DRS Advice...