Lightbridge Anticipates Maintaining its Listing on NASDAQ Capital Market Following Reverse Split

About this update from Lightbridge Corporation

[{"type":"text","content":"RESTON, Va., Oct. 28, 2019 (GLOBE NEWSWIRE) -- Lightbridge Corporation (NASDAQ: LTBR), a nuclear fuel technology development company, today announced that it anticipates maintaining its listing on the NASDAQ Capital Market following the recent one-for-twelve reverse stock split of its outstanding common stock completed on October 21, 2019.\n In accordance with the reverse split, each stockholder’s percentage ownership interest in Lightbridge remains unchanged. Any fractional shares resulting from the reverse stock split were rounded up to the nearest whole share of common stock. Additionally, the number of authorized shares of common stock were reduced from 100,000,000 to 8,333,333. Seth Grae, Chief Executive Officer of Lightbridge, commented, “Management had wanted to avoid the need for a reverse stock split, but milestones that we had anticipated did not occur soon enough, and we had to decide whether to conduct a reverse split to maintain the NASDAQ listing. Given these anticipated near-term milestones, which we believe have the potential to drive significant shareholder value, we decided to prioritize maintaining our NASDAQ listing. Effecting this reverse split on a one-for-twelve basis should help ensure a share price that we believe will enable us to attract a broader universe of institutional investors, as well as maintain our current institutional investor base. We are encouraged by the outlook for the business and our balance sheet remains strong with approximately $20 million in cash, and no long-term debt. We look forward to providing additional updates on near-term term milestones, including our first commercial relationship with a nuclear plant operator/electric utility.” About Lightbridge Corporation Lightbridge (NASDAQ: LTBR) is a nuclear fuel technology development company based in Reston, Virginia, USA. The Company develops proprietary next generation nuclear fuel technologies for current and future reactors, which significantly enhances the economics and safety of nuclear power, operating about 1000° C cooler than standard fuel. In January 2018, Lightbridge and Framatome, Inc. formed a 50-50 joint venture, Enfission, LLC, to develop, license, manufacture, and sell nuclear fuel assemblies based on Lightbridge-designed metallic fuel technology and other advanced nuclear fuel intellectual property. Enfission has t...

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