Sign up USA
Proactive Investors - Run By Investors For Investors

Tethyan Resources'1:6 share consolidation to take effect from Monday

A special resolution was passed by shareholders on November 1
Tethyan Resources'1:6 share consolidation to take effect from Monday
The consolidation will be effective from market open on Monday (November 20)

Tethyan Resources PLC (LON:TETH) says its share consolidation plans have received TSX venture approval and will take effect on market open on November 20.

A special resolution was passed by shareholders on November 1 and the firm has now consolidated shares on a  one-new-for-six-old (1:6) basis.

The name of the company has not been changed.

Earlier this week, the group said it was set to raise up to $3.15mln in a private placing, consisting of up to 10.5mln shares at 30 cents each on a post-consolidated basis.

Southern Arc Minerals Inc (CVE: SA), which owns 29.9% of Tethyan, plans to invest up to $950,000 and acquire up to 3.167mln shares in the financing. It will not exceed that percentage on closing of the placing.

Closing of the placing was subject to the completion of the previously announced 1:6 share consolidation and  approval by the TSX Venture Exchange. 

View full TETH profile View Profile

Tethyan Resources PLC Timeline

Related Articles

zeolite mine
September 14 2018
Zeolite may not be the most well-known mineral but it has wide applications, such as use in animal feed, as a pozzolan in cement and as an additive to soil, which could be used for cannabis plants
gold mine
September 07 2018
The company says it is on track to hit production targets for 2018 of 27,000 ounces of gold and 1.7mln ounces of silver
Otis Gold makes leap at Kilgore with improved indicated resource as CEO upbeat about size of project
August 21 2018
Significantly, the higher confidence indicated resource has been lifted by 59% compared to a previous report six years ago.
Copyright © Proactiveinvestors.com, 2018. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use