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Terra Balcanica Resources Announces Proposed Share Consolidation and Engages Market Maker
Vancouver, British Columbia, May 08, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) announces that its
About this update from Terra Balcanica Resources Corp.
[{"type":"text","content":" Vancouver, British Columbia, May 08, 2024 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) announces that its Board of Directors has approved a consolidation (the “Consolidation”) of the common shares of the Company (“Common Shares”) on a three-to-one basis. The Company currently has 100,574,553 Common Shares outstanding and, if completed, the proposed Consolidation would reduce the issued and outstanding Common Shares total to 33,524,851 Common Shares. The Company will announce the effective date of the Consolidation, as well as the new CUSIP/ISIN numbers for the post-Consolidation shares by way of a future news release. The post-Consolidation shares will continue to trade on the Canadian Securities Exchange (“CSE”) under the Company's existing name and trading symbol. The Consolidation is subject to the approval of the CSE. Shareholder approval of the Consolidation was received by special resolution at the Company’s Special Meeting of Shareholders held on May 6th, 2024. See the management information circular of the Company dated April 5th, 2024 on the Company’s SEDAR+ profile for further information regarding the Consolidation. Shareholders with physical share certificates will receive a letter of transmittal from Computershare Investor Services Inc., the Company’s transfer agent. All registered shareholders will be required to send their certificates representing pre-Consolidation shares, along with a properly executed letter of transmittal, to the Company’s transfer agent, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary on the procedures for processing the Consolidation of their shares, and for determining their post-Consolidation positions. Terra Balcanica Engages a Market Maker The Company is pleased to announce it has engaged the services of Independent Trading Group (\"ITG\") to provide market-making services in accordance with policies of the CSE. ITG will trade shares of the Company on the CSE with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares. Under the agreement, ITG will receive compensation of CAD $6,000 per month, payable monthly in advance...