Skeena Resources (TSX: SKE) this morning issued a brief press release, indicating that it has completed a share consolidation. Also known as a reverse split, the company saw its common shares outstanding reduced on a four to one basis.
Following the completion of the reverse split, shareholders will hold one post-consolidation share for every four pre-consolidation shares they held. As a result, the firms outstanding share count has been reduced down to 60.95 million as of the market open today, down from the prior 243.8 million that were previously outstanding.
Any outstanding warrants or options have been adjusted at the same ratio.
The company did not provide commentary on why it sought to consolidate its share structure.
Skeena Resources last traded at $15.08 on the TSX.
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