Traction Uranium Corp. Upholds Share Consolidation Strategy
Traction Uranium Corp. Announces Share Consolidation
Traction Uranium Corp. (CSE: TRAC, OTC: TRCTF) is taking significant steps forward in its strategic plans. The company announced a share consolidation that will alter its financial landscape. The consolidation of shares is set at a ratio of one post-consolidation common share for every ten currently outstanding common shares, an important decision affecting shareholders.
Details of the Share Consolidation
As of now, Traction Uranium has approximately 92,609,126 issued and outstanding common shares. Following the completion of the consolidation, the company expects to have 9,260,912 shares outstanding. This adjustment will not issue fractional shares, ensuring clarity in share ownership. If any shareholder of Traction Uranium would have a fractional share, it will be rounded up or cancelled depending on its size.
Implications for Shareholders
Shareholders should take note that for those without physical share certificates, there will be no immediate actions required. They will automatically receive new Direct Registration System (DRS) advice reflecting their new share count following the consolidation. This approach helps streamline the transition and maintains shareholder engagement.
Company Stability Throughout the Process
Throughout the consolidation process, Traction Uranium assures that its trading symbol and company name will remain unchanged. The company has established the CUSIP number for its new shares as 89239Q207 and the ISIN as CA89239Q2071, marking a new chapter in its operational journey.
About Traction Uranium Corp.
Traction Uranium Corp. is dedicated to mineral exploration, particularly in Canada. With a keen focus on developing uranium projects in the renowned Athabasca region, the company aims to enhance its exploration capabilities. With a commitment to advancing its projects, Traction Uranium is positioned well among its competitors in the uranium sector.
Exploration Stage Initiatives
The company's ongoing exploration activities within Canada's Western region are set against a backdrop of increasing global interest in uranium, driven by an escalating demand for clean energy solutions. As such, Traction Uranium is well-prepared to leverage opportunities in this critical industry.
Contact Information
For more details about Traction Uranium's strategic initiatives or to discuss potential investment opportunities, interested parties can reach out to:
Paul Gorman
Chief Executive Officer
(604) 425-2271
info@tractionuranium.com
Frequently Asked Questions
What is the share consolidation ratio for Traction Uranium?
The share consolidation is set at a ratio of one common share for every ten currently outstanding common shares.
Will shareholders need to take action during the consolidation?
No action will be required from shareholders that do not have physical share certificates as they will receive updated DRS advice automatically.
What changes will occur to the company's trading symbol?
There will be no changes to the company's trading symbol or name throughout the consolidation process.
How will fractional shares be handled in the consolidation?
Fractional shares will be rounded up to the nearest whole share if they are equal to or greater than one-half, while smaller fractions will be canceled.
Why is Traction Uranium pursuing this consolidation?
This consolidation aligns with Traction Uranium's strategy to strengthen its position in the market and enhance its exploration initiatives.
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