ACCESSWIRE
18 May 2022, 02:13 GMT+10
VANCOUVER, BC / ACCESSWIRE / May 17, 2022 / Northern Lights Resources Corp. ('Northern Lights', 'NLR' or the 'Company') (CSE:NLR), (OTCQB:NLRCF) is pleased to announce that it is proceeding with the consolidation of its common shares on a ten (10) for one (1) basis (the 'Consolidation'). The Company's common shares will commence trading on a post-consolidated basis effective at market opening on May 24, 2022 (the 'Effective Date').
Immediately prior to completion of the Consolidation, the Company has 143,571,385 common shares issued and outstanding. After giving effect to the Consolidation, the Company will have approximately 14,357,139 common shares issued and outstanding, subject to the rounding of fractional common shares. The company has been issued with a new Cusip Number (66538D301), there will be no escrow of shares, and the trading symbol will remain unchanged.
No fractional common shares will be issued as a result of the Consolidation. All fractional common shares resulting from the Consolidation will be rounded to the nearest whole number of common shares. The Company's outstanding incentive stock options and warrants will be adjusted on the same basis (10:1) to reflect the Consolidation in accordance with their respective terms, with proportionate adjustments being made to exercise prices. New warrant certificates reflecting the Consolidation are not required and will not be issued.
Registered shareholders will receive a letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., providing instructions on how to exchange their share certificates representing pre-Consolidation common shares for new share certificates or Direct Registration Advice (DRS) representing post-Consolidation common shares to which they are entitled as a result of the Consolidation. No action is required by non-registered shareholders (shareholders who hold their common shares through an intermediary) to affect the Consolidation.
For further information on Northern Lights Resources please contact:
Albert Timcke, Executive Chairman and President
Email: rtimcke@northernlightsresources.com
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Email: Jason@northernlightsresources.co
Tel: +1 604 608 6163
Shawn Balaghi, Investor Relations
Email: Shawn@northernlightsresources.com
Tel: +1 604 773 0242
About Northern Lights Resources Corp.
Northern Lights Resources Corp is a growth-oriented exploration and development company that is advancing two projects: The 100% owned, Secret Pass Gold Project located in Arizona; and the Medicine Springs silver-zinc-lead Project located in Elko County Nevada where Northern Lights is earning 100% in joint venture with Reyna Silver Corp.
Northern Lights Resources trades under the ticker of 'NLR' on the CSE. This and other Northern Lights Resources news releases can be viewed at www.sedar.com and www.northernlightsresources.com.
SOURCE: Northern Lights Resources Corp.
Get a daily dose of St Louis Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to St Louis Star.
More InformationMOSCOW, Russia: The UK newspaper, the Telegraph, has been blocked in Russia, following a request from the Russian prosecutor-general.The TASS ...
LAHORE, Pakistan - An Airbus 320 carrying 171 passengers narrowly avoided an accident at Allama Iqbal International Airport, Pakistan's second-largest ...
WASHINGTON, DC - U.S. President Joe Biden on Friday vowed to "do all in my power" to protect a woman's ...
YANGON, Myanmar - According to military-run media, a junta delegation discussed nuclear technology collaboration with a Russian state-owned atomic energy ...
DHAKA, Bangladesh - The United States Agency for International Development (USAID) is providing more than Tk2.3 crore in emergency funding ...
PHNOM PENH, Cambodia: Cambodian villagers on the Mekong River have caught a stingray fish weighing 661 pounds, which is the ...
SYDNEY, NSW, Australia - Stocks across Asia rose on Monday, in a positive start to the week.The U.S. dollar was ...
TOKYO, Japan: Amidst semiconductor shortages and COVID-19 parts supply disruptions, Toyota has reduced its July global production target by 50,000 ...
NEW YORK CITY, New York: Electric vehicle (EV) sales could reach 33 percent globally by 2028, and 54 percent by ...
BERLIN, Germany: To prevent large increases in food prices, officials from G7 countries, including Germany and the UK, will push ...
WASHINGTON D.C.: The U.S. Food and Drug Administration (FDA) is preparing to order Juul Labs to stop selling its e-cigarettes ...
WASHINGTON D.C.: As average home prices surged to a record high, reaching the $400,000 mark for the first time, and ...