Business
U3O8 Corp. Provides Provisional Timetable for Share Consolidation and Adjusts Terms of Certain Outstanding Warrants
U3O8 Corp. Provides Provisional Timetable for Share Consolidation and Adjusts Terms of Cer...
About this update from Green Shift Commodities Ltd
[{"type":"text","content":"\n\n\n\nU3O8 Corp. Provides Provisional Timetable for Share Consolidation and Adjusts Terms of Certain Outstanding Warrants\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 23, 2017\n\n\n\nTORONTO, Aug. 23, 2017 /CNW/ - U3O8 Corp. (TSX: UWE), (OTCQB: UWEFF) (\"U3O8 Corp.\" or the \"Company\") reports on provisional timing of the consolidation of the Company's common shares and on the decision to amend the terms of certain common share purchase warrants.  \n\nProvisional Timetable for the Consolidation of the Company's Common Shares\n\nBased on the approval of the Company's shareholders at the June 22, 2017 Annual & Special Meeting (\"ASM\"), the Company has received approval from the Toronto Stock Exchange (\"TSX\") to undertake a consolidation of one new share for twenty old shares on an effective basis.  Shareholders with less than 1,000 old shares will be paid out for the value of those shares and will cease to be shareholders of the Corporation.  \n\nThe consolidation is anticipated to be effective on September 11, 2017.  A letter of transmittal has been mailed to shareholders and is available on the Company's profile on SEDAR, www.sedar.com, which provides all related details and instructions to shareholders.\n\nAs noted above, the effect of the consolidation depends on the number of shares held, as follows:\n\n\nFor shareholders with less than 1,000 common shares of U3O8 Corp., the result of the consolidation is that their share position will be cancelled and a cash payment of CDN$0.0253 per share will be made based on the TSX five day weighted average trading price of the shares ending on the date prior to approval at the ASM (June 22, 2017). The consolidation provides a simple and cost-effective means of reducing the number of small common share lots that cost the Company a disproportionate amount in administration expenses.\nFor shareholders holding 1,000 or more common shares of U3O8 Corp., their shares will be automatically consolidated such that each twenty previously issued and outstanding common s...