Business
African Energy Metals Announces Share Consolidation
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2023) - African Energy Metals Inc. (TS...
About this update from Magma Silver Corp.
[{"type":"text","content":"African Energy Metals Announces Share ConsolidationVancouver, British Columbia--(Newsfile Corp. - March 20, 2023) - African Energy Metals Inc. (TSXV: CUCO) (FSE: BC2) (OTCQB: NDENF) (WKN: A3DEJG) (\"African Energy Metals\" or the \"Company\") announced today it plans to consolidate all of its issued and outstanding common shares (each, a \"Common Share\", the \"Common Shares\") on the basis of four (4) existing Common Shares for one (1) new Common Share (the \"Consolidation\").Upon completion of the Consolidation, the Company is expected to have 20,067,964 issued and outstanding Common Shares. No fractional shares will be issued because of the Consolidation and all fractional interests will be rounded down to the nearest whole number of Common Shares. Each shareholder's percentage of ownership in the Company and proportional voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares.Management of the Company believes that the proposed Consolidation will position the Company to gain greater access to capital given the current market conditions.The Company does not intend to change its name or its current trading symbol in connect with the proposed Consolidation. The Consolidation is subject to all necessary regulatory approvals. In a subsequent news release, African Energy Metals will confirm the effective date of the Consolidation and other pertinent details, including the new CUSIP and ISIN as a result of the Consolidation.About African Energy MetalsAfrican Energy Metals is a natural resource company with a focus on the acquisition, exploration, development, and operation of uranium, copper, cobalt, and lithium energy metals projects in Africa. African Energy Metals has the intention of acquiring interests in additional concessions or relinquishing concessions in the normal course of business. African Energy Metals has an experienced management team located in Africa. For further information, please contact:Stephen Barley, Executive Chairman Phone: +1-604-428-7050 Email: [email protected]: www.africanenergymetals.comReader AdvisoryNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this ...