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TSX: GPR | NYSE American: GPL
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated October 15, 2021to its short form base shelf prospectus dated September 10, 2021.
VANCOUVER, BC, July 11, 2022 /PRNewswire/ – Great Panther Mining Limited (TSX:GPR) (NYSE-A: GPL) (“Great Panther” or the “Company”), a growth-oriented precious metals producer focused on the Americas, announces that the Company will undertake a share consolidation (the “Consolidation”) of its common shares (the “Shares”) on the basis of one post-Consolidation for every 10 pre-Consolidation Shares.
The Company currently has 471,164,174 Shares issued and outstanding. Upon completion of the Consolidation, the Company will have approximately 47,116,417 Shares issued and outstanding. Some slight variance is expected due to fractional rounding. As is customary, to reflect the Consolidation, all outstanding incentive stock options granted pursuant to the Company’s Amended and Restated Omnibus Incentive Plan (the “Omnibus Incentive Plan”) will be adjusted to increase their exercise price by a factor of 10 and to reduce the number of Shares issued upon exercise by dividing by 10. Appropriate adjustments to reflect the Consolidation will also be made to outstanding deferred share units, restricted share units and performance share units granted pursuant to the Omnibus Incentive Plan.
The Company expects the Consolidation will allow it to comply with the minimum price listing standard of the NYSE American and therefore maintain its listing of Shares on that exchange. Subject to the Company receiving all required approvals, including the approval of the Toronto Stock Exchange (the “TSX”) and NYSE American, the Consolidation is expected to take effect at close of business on July 21, 2022. Notice of the Consolidation has been provided to the TSX and NYSE American, and the Common Shares …
Full story available on Benzinga.com
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