Apollo plan to enact a 5-to-1 share merger
Apollo Silver Corp. Announces Stock Consolidation
Apollo Silver Corp., a company advancing one of the largest undeveloped primary silver projects in the US, has announced a stock consolidation with a ratio of five to one. The consolidation is expected to result in a price environment that allows for immediate marginability.
Following the consolidation, Apollo Silver Corp. will have approximately 48,517,079 Shares issued and outstanding. Prior to the consolidation, the company had 242,585,395 Shares issued and outstanding. No fractional Shares will be issued under the consolidation, and no cash consideration will be paid in respect of fractional Shares.
The consolidation is subject to approval from the TSX Venture Exchange. Apollo Silver Corp. intends to consolidate its issued and outstanding common shares on a basis of five pre-Consolidation Shares for every one post-Consolidation Share.
The consolidation may increase sophisticated investor interest and the opportunity for inclusion in various indexes and/or index funds. It could provide opportunities for greater blue-sky potential in the US and foreign markets.
The Board of Directors of Apollo Silver Corp. is led by Ross McElroy as President and CEO. For further information, contact can be made via email at [email protected] or by telephone at +1 (604) 428-6128.
The Calico project, hosted by Apollo Silver Corp., holds a large, bulk minable silver deposit with significant barite credits. The news release includes forward-looking statements regarding the completion of the consolidation, anticipated benefits, and potential risks.
Forward-looking statements are based on the reasonable assumptions, estimates, analysis, and opinions of the management of the Company. However, they are subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those contained in the forward-looking information.
The forward-looking information is presented to assist investors in understanding the Company's expected financial and operational performance and plans and objectives. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The consolidation remains subject to regulatory approval from the TSX Venture Exchange. A letter of transmittal will be mailed to registered shareholders providing instructions with respect to exchanging share certificates representing pre-Consolidation Shares for post-Consolidation Shares.
