Business
Skeena Announces Share Consolidation
VANCOUVER, BC / ACCESSWIRE / June 4, 2021 /Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) (...
About this update from Skeena Resources Limited
[{"type":"text","content":"Skeena Announces Share ConsolidationVANCOUVER, BC / ACCESSWIRE / June 4, 2021 /Skeena Resources Limited (TSX:SKE)(OTCQX:SKREF) (\"Skeena\" or the \"Company\") is pleased to announce that, in anticipation of pursuing a listing on the New York Stock Exchange (the \"NYSE\"), the Company will consolidate its common shares at a ratio of four pre-consolidation shares to one post-consolidation share (the \"Consolidation\"). Fractional shares of 0.5 or greater will be rounded up to the nearest whole number of common shares and fractional shares of less than 0.5 will be rounded down to the nearest whole number of Shares.The Company currently has 243,810,333 common shares issued and outstanding. Upon completion of the Consolidation, the Company will have approximately 60,952,583 common shares issued and outstanding. Some slight variance is expected due to fractional rounding. As is customary, to reflect the Consolidation, all outstanding warrants and incentive stock options will be adjusted to increase their exercise price by a factor of four and to reduce the number of common shares issued upon exercise by dividing by four.Subject to Skeena receiving all required approvals, including the approval of the Toronto Stock Exchange (the \"TSX\"), the Consolidation is expected to take effect on June 7, 2021. Notice of the Consolidation has been provided to the TSX, and the common shares are expected to begin trading on a post-Consolidation basis on the TSX on or about June 10, 2021.Holders of shares of the Company who hold uncertificated shares (that is shares held in book-entry form and not represented by a physical share certificate), either as registered holders or beneficial owners, will have their existing book-entry account(s) electronically adjusted by the Company's transfer agent or, in the case of beneficial shareholders, by their brokerage firms, banks, trusts or other nominees that hold in street name for their benefit. Such holders generally do not need to take any additional actions to exchange their pre-consolidation shares for post-consolidation shares. If you hold your shares with such a bank, broker or other nominee, and if you have questions in this regard, you are encouraged to contact your nominee.Registered shareholders holding share certificates will be mailed a letter of transmittal advising of the Consolidation and instr...