VANCOUVER, British Columbia, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Juggernaut Exploration Ltd. (JUGR.V) (JUGRF) (4JE.F) (the “Company” or “Juggernaut”) announces that further to its news release of October 2, 2019, the Company’s intention to consolidate its common shares (“Shares”) on a 10-old-for-1-new share basis (the “Consolidation”) has been accepted by the TSX Venture Exchange.
Prior to implementing the Consolidation, the Company had 105,225,564 Shares issued and outstanding and immediately after implementing the Consolidation, the Company had 10,522,556 Shares issued and outstanding. No fractional shares will be issued as a result of the Consolidation. Each fractional share following the Consolidation that is less than one-half of a share will be cancelled and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. The exercise price and the number of Shares issuable under any of the Company's outstanding stock options and convertible instruments, as applicable, will be proportionately adjusted in connection with the Consolidation.
Effective at the opening of trading on October 17, 2019, the pre-Consolidation Shares in the name of Juggernaut Exploration Ltd. will be delisted and the post-Consolidation Shares will commence trading under the same name Juggernaut Exploration Ltd. and same trading symbol of “JUGR”.
Holders of Shares who hold un-certificated Shares (including Shares held through a brokerage account and/or not represented by a physical share certificate) have had their holdings electronically adjusted by the Company's transfer agent or by their brokerage firms, banks, trust or other nominees. Such holders do not need to take any additional actions to exchange their pre-Consolidation Shares for post-Consolidation Shares. Letters of transmittal have been mailed to all registered shareholders holding share certificates with instructions on how to exchange existing share certificates for new share certificates. A letter of transmittal is also available on SEDAR.
The Company's new CUSIP number is 48132D200 and its new ISIN number is CA48132D2005.
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