HALIFAX, NOVA SCOTIA / ACCESSWIRE / October 1, 2024 / (TSXV:SSE) Silver Spruce Resources Inc. ('Silver Spruce' or the 'Company'), is pleased to announce that it is proposing to consolidate its common shares
HALIFAX, NOVA SCOTIA / ACCESSWIRE / October 1, 2024 / Silver Spruce Resources Inc. , is pleased to announce that it is proposing to consolidate its common shares on the basis of one post-consolidation common share for every fifteen pre-consolidation common shares issued and outstanding . The shareholders of the Company will be asked to vote in favour of the Consolidation at the Company's annual and special meeting of shareholders to be held on October 29, 2024.
If the Consolidation is implemented, its primary effect would be to proportionately decrease the number of issued and outstanding common shares by a factor equal to the consolidation ratio. At the close of business on September 19, 2024 , the closing price of the shares on the Exchange was $0.01 per share and there were 322,547,832 shares issued and outstanding.
The Company's name will not be changed in conjunction with the proposed Consolidation.About the Company Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. The Company is not in control of metals prices and these could vary to make development uneconomic.
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