Terra Clean Energy Corp. has announced a consolidation of its issued and outstanding share capital. The consolidation is effective today. The decision of the management is due to the need for an effective method of attracting new investors, reducing share price volatility, and increasing per-share metrics.
On a pre-consolidated basis, the company had 16,000,000 common shares issued and outstanding. As part of this consolidation, every 4 old common shares will be consolidated into 1 new share. Post-consolidation, the company will have approximately 4,000,000 shares. This will result in a significant decrease in the company’s outstanding shares and a corresponding increase in share price.
It is important for shareholders of the company to note that the consolidation does not alter their percentage ownership or voting in the company, although it does impact the number of shares they own. For every 4 shares of Terra Clean Energy Corporation that a shareholder presently owns, they will now hold 1.
We advise shareholders to contact their brokers if they have any questions regarding the practical aspects of the consolidation or reach out to the company’s investor relations team for additional details. In conclusion, this consolidation is a significant move by Terra Clean Energy Corp. towards achieving its financial and strategic objectives.
Please note that the name of the company will not change and it will continue to trade on the CSE under the same ticker.
