Reflex Advanced Materials Launches Share Consolidation and New Director
Reflex Advanced Materials Corp. Announces Share Consolidation
VANCOUVER, British Columbia — Reflex Advanced Materials Corp. (CSE: RFLX) (OTCGB: RFLXF) (FRANKFURT: HF2) is excited to share an important update regarding its recent share consolidation strategy. Following their news release detailing the developments, the Company is progressing towards a consolidation of its common shares on a 10-for-1 basis. This change means that for every ten shares currently held, shareholders will receive one share after the consolidation.
Effective Date for Share Consolidation
The anticipated effective date for this share consolidation is projected to be mid-October. Following this event, the Common Shares will continue trading on various exchanges, including the Canadian Securities Exchange under the symbol "RFLX", the OTCQB as "RFLXF", and Frankfurt Stock Exchange under the symbol "HF2". The official new CUSIP and ISIN for the Common Shares are 75865D206 and CA75865D2068, respectively.
Understanding the Consolidation Process
It is notable that no fractional shares will be created from this consolidation process. Any shareholder who ends up with a fractional share of half or more will have it rounded up to the nearest whole share. Conversely, any fractions that measure less than half will be rounded down. Additionally, adjustments will be proportionally made to the Company’s stock options and share purchase warrants to accommodate this consolidation.
Why This Consolidation Matters
This strategy aims to improve the liquidity and market perception of Reflex Advanced Materials. By consolidating the shares, the company hopes to enhance the overall market appeal, which could potentially attract more institutional investors and improve trading efficiency. This could lead to a stronger market presence and better support for the company's growth initiatives.
Changes in Leadership
In addition to the share consolidation announcement, Reflex Advanced Materials also shares the news regarding significant changes within its board of directors. Mr. Alex Pleson has stepped down from his role, and the Company expresses sincere gratitude for his contributions during his tenure. To fill the vacancy, Mr. Eli Dusenbury has been appointed as a new director, bringing fresh perspectives to the board.
Welcoming New Board Members
Mr. Dusenbury's appointment is part of Reflex's commitment to strengthening its leadership team. With his background and experience in the materials sector, he is expected to play a crucial role in steering the company towards achieving its strategic objectives. This transition is viewed positively by stakeholders as an opportunity for innovation and enhanced direction.
About Reflex Advanced Materials Corp.
Reflex Advanced Materials Corp. stands at the forefront of mineral exploration, primarily focusing on locating and developing viable economic mineral properties. The company is committed to the strategic development of materials necessary to meet the booming demands of North American manufacturers. By enhancing domestic capabilities, Reflex aims to bolster the efficiency of specialty minerals, which is key to navigating the evolving market landscape.
Looking Ahead
As Reflex Advanced Materials positions itself for future growth, it continuously reviews its operational strategies and market opportunities. The recent consolidation of shares alongside leadership changes is expected to introduce new energy and direction, driving their mission forward as they expand their resource capabilities.
Frequently Asked Questions
What is the purpose of the share consolidation?
The share consolidation aims to increase the market value of the shares and improve trading liquidity, attracting more investors.
What will happen to the fractional shares after consolidation?
Fractional shares of half or more will be rounded up, while those under half will be rounded down to whole shares.
Who has been appointed to the board of directors?
Mr. Eli Dusenbury has been appointed as a director to replace Mr. Alex Pleson.
What is the expected impact of the new director?
Mr. Dusenbury is expected to bring valuable insights and guidance as the company navigates its growth strategies.
How can I find more information about Reflex Advanced Materials Corp.?
Additional details can be found on their official website and through regulatory filings available online.
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