Carbon Streaming Corp (NEO: NETZ) this morning provided further details on its proposed share consolidation that was previously announced. The consolidation is being undertaken as a necessary step in advance of listing on a US big board exchange.
The company has set the date of the previously announced one for five share consolidation to that of October 22, 2021 after the close of markets. The firm will then begin trading on Monday, October 25 on a consolidated basis.
The reverse split will see shareholders receive one post-consolidation share for every five pre-consolidation shares held in the company, with all other securities being adjusted on the same basis. The company will continue to trade on the Neo on a post consolidated basis, with its symbol also going unchanged.
“The share consolidation is the latest step in proceeding with our U.S. listing strategy. We believe the potential U.S. listing will provide the Company with increased flexibility, enhanced liquidity and greater potential to achieve our ambitious growth plans,” commented Justin Cochrane, CEO of Carbon Streaming on the news.
Carbon Streaming Corp last traded at $2.33 on the Neo Exchange.
FULL DISCLOSURE: Carbon Streaming Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Carbon Streaming Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
