After bloating its share structure and seeing its share price fall apart, Roadman Investments Corp (TSXV: LITT) has indicated it will be conducting a reverse split. The announcement was made last night by the company.
The share consolidation will see the company reduce its share count by a factor of ten, with shareholders to receive one post consolidation share for every ten pre-consolidation shares held. Following the transaction, the firms outstanding share count will fall from 200.8 million, to 20.1 million.
Fractional shares will not be issued under the consolidation, with any fractional shares to be rounded down to the nearest whole figure.
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The consolidation is expected to go into effect as of January 24, 2022. The firms symbol will remain unchanged following the consolidation.
Roadman Investments last traded at $0.02 on the TSX Venture.
Information for this briefing was found via Sedar and Roadman Investments. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
