Business
OREX ANNOUNCES SHARE CONSOLIDATION
OREX ANNOUNCES SHARE CONSOLIDATION Canada NewsWire VANCOUVER, BC , ...
About this update from Orex Minerals Inc.
[{"type":"text","content":"\n \n \n \n OREX ANNOUNCES SHARE CONSOLIDATION\n \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 Canada NewsWire\n \n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Sept. 22, 2023\n \n \n /CNW/ -\n \n Orex Minerals Inc.\n \n (TSXV: REX) (OTCQB: ORMNF) (\"\n \n Orex\n \n \" or the \"\n \n Company\n \n \") today announced that, effective\n \n September 27, 2023\n \n , the Company will consolidate its issued and outstanding common shares (the \"\n \n Shares\n \n \") at a ratio of ten (10) pre-consolidation Shares to one (1) post-consolidation share (the \"\n \n Consolidation\n \n \"). The reasons for the Consolidation are to increase the Company's flexibility and competitiveness in the marketplace and to attract new equity investment in the Company.\n \n \n The Shares are expected to commence trading on a consolidated basis at the start of trading on\n \n Tuesday, September 27, 2023\n \n . Following completion of the Consolidation, the Company expects to have approximately 18.74 million Shares outstanding.\n \n \n No fractional Shares will be issued under the Consolidation. The holdings of any shareholder who would otherwise be entitled to receive a fractional Share as a result of the Consolidation shall be rounded up to the next higher whole number if the fraction is 0.5 or greater and rounded down to the next lower whole number if the fraction is less than 0.5. The Consolidation will not affect any shareholder's percentage ownership in the Company other than by the minimal effect of the aforementioned elimination of fractional Shares, even though such ownership will be represented by a smaller number of Shares. Instead, the Consolidation will reduce proportionately the number of Shares held by all shareholders.\n \n \n Shareholders who hold uncertificated Shares (including Shares held through a brokerage account and/or not represented by a physical share certificate), will have their holdings electronically adjusted by the Company's transfer agent or by their brokerage firms, banks, trust or other nominees. Such shareholders do not need to take any additional ac...