Avidian Gold's Strategic Share Consolidation Announcement
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Avidian Gold's Share Consolidation Strategy
Avidian Gold Corp. (“Avidian” or the “Company”) (TSX-V: AVG) has announced its decision to consolidate its common shares, converting every fifteen (15) shares into just one (1) post-consolidation share.
Enhancing Market Perception
The management of Avidian believes that this consolidation will enhance its market appeal, especially to investors who prefer not to engage with stocks priced below a certain threshold. By executing this plan, the Company aims to improve its overall liquidity. Furthermore, the consolidation was not taken lightly; it received overwhelming approval from 97.17% of the votes during a special resolution at the shareholders' meeting held earlier this year.
Current Shareholder Situation
Before the consolidation, Avidian has 185,411,207 shares outstanding. Following the consolidation, the number of shares will be reduced significantly to 12,360,716. In case any shareholder ends up with a fractional share, those fractions will be rounded down to ensure a clean number of whole shares.
Trading Transition Details
The restructured shares are expected to start trading under new ISIN and CUSIP numbers on a consolidated basis soon. This marks a pivotal point as Avidian navigates its shareholder structure.
Shareholder Instructions
For those holding shares through brokers or banks, no action is required on their part. However, registered shareholders will receive specific instructions via mail from Computershare Investor Services Inc. ("Computershare"). This includes details on how to exchange pre-consolidation certificates for post-consolidation ones efficiently.
Adjustments in Corporate Instruments
Alongside the consolidation of common shares, Avidian's options and warrants will also adjust accordingly, maintaining the same conversion ratio of 1 to 15, thus ensuring that shareholders continue to have value in their investment.
No Changes to Name or Symbol
Importantly, Avidian Gold Corp. will retain its name and trading symbol despite these significant changes. This consolidation does not reflect a shift in the Company’s identity but rather a strategic move to strengthen it.
About Avidian Gold Corp.
Avidian brings together an experienced team committed to advanced-stage gold exploration projects. The Company is proud to hold a 100% stake in the Jungo gold-copper property located in Nevada and is actively seeking more transformative opportunities.
Strategic Investments
Avidian is also a significant shareholder in High Tide Resources (CSE: HTRC), which focuses on developing mineral projects essential for infrastructure while maintaining a positive engagement with local communities. Avidian holds approximately 28% of the shares in High Tide, which oversees the Labrador West Iron Project, containing substantial iron resources.
Contact Information
For further inquiries regarding the consolidation or Avidian Gold, interested parties can reach out to:
Steve Roebuck
President & CEO
Mobile: (905) 741-5458
Email: sroebuck@avidiangold.com
or
Dino Titaro
Director, Chairman of the Board
Mobile: (647) 283 7600
Email: dtitaro@avidiangold.com
Frequently Asked Questions
What is the consolidation ratio for Avidian Gold shares?
The consolidation ratio is 1 post-consolidation share for every 15 pre-consolidation shares.
Why is Avidian Gold conducting this share consolidation?
The consolidation aims to improve market appeal and liquidity, making the shares more attractive to a broader range of investors.
What should shareholders do after the consolidation?
Registered shareholders will receive instructions from Computershare on how to exchange their old shares for new ones.
Will the trading symbol for Avidian Gold change after the consolidation?
No, Avidian Gold will retain its trading symbol post-consolidation.
What properties does Avidian Gold currently hold?
Avidian Gold currently holds a 100% interest in the Jungo gold-copper property and also has investments in High Tide Resources.
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