Avidian Gold's Share Consolidation Plan
Avidian Gold Corp. (“Avidian” or the “Company”) (TSX-V: AVG) has made the announcement that it will consolidate its common shares, converting every fifteen (15) shares into one (1) post-consolidation share.
Improving Market Appeal
The management team at Avidian believes that this consolidation will enhance its attractiveness in the market, particularly for investors who are hesitant to invest in stocks priced below a certain level. By implementing this strategy, the Company aims to boost its overall liquidity. It’s important to note that this decision was made after careful consideration and received overwhelming support, with 97.17% of votes in favor during a special resolution at the shareholders' meeting held earlier this year.
Current Shareholder Overview
Prior to the consolidation, Avidian has 185,411,207 shares outstanding. After the consolidation, this number will be significantly reduced to 12,360,716 shares. If any shareholder ends up with a fractional share, those fractions will be rounded down to ensure that shareholders receive whole shares.
Details on Trading Transition
The newly structured shares are expected to begin trading under new ISIN and CUSIP numbers on a consolidated basis shortly. This marks a significant milestone as Avidian works through its shareholder structure.
Instructions for Shareholders
For shareholders holding shares through brokers or banks, no action is necessary on their part. However, registered shareholders will receive detailed instructions by mail from Computershare Investor Services Inc. ("Computershare"), outlining how to efficiently exchange their pre-consolidation certificates for post-consolidation ones.
Adjustments to Corporate Instruments
In addition to the consolidation of common shares, Avidian's options and warrants will also be adjusted accordingly, maintaining the same conversion ratio of 1 to 15. This ensures that shareholders continue to derive value from their investments.
No Change to Name or Trading Symbol
Importantly, Avidian Gold Corp. will keep its name and trading symbol despite these significant changes. The consolidation is a strategic move to strengthen the Company’s position, not a reflection of a change in its identity.
About Avidian Gold Corp.
Avidian is backed by a skilled team dedicated to advanced-stage gold exploration projects. The Company proudly holds a 100% interest in the Jungo gold-copper property located in Nevada and is actively pursuing additional transformative opportunities.
Strategic Investments
Avidian is also a major shareholder in High Tide Resources (CSE: HTRC), which is focused on developing mineral projects vital for infrastructure while fostering positive relationships with local communities. Avidian owns approximately 28% of High Tide's shares, which oversees the Labrador West Iron Project, rich in iron resources.
Contact Information
For more information regarding the consolidation or Avidian Gold, interested individuals 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.
