Canadian gold miner Wallbridge hosts meeting to vote on name change, share consolidation
TSX-listed Wallbridge Mining has advised of a special meeting of shareholders scheduled for September 29, whereby shareholders will vote on a share consolidation exercise and a proposed name change to "Sunday Lake Gold Corporation".
The company seeks to consolidate its common shares on a basis of one post-consolidation share for up to 20 preconsolidation shares, to increase flexibility and competitiveness in the market.
The consolidation will also likely make Wallbridge shares more attractive to a wider audience of potential investors.
With Wallbridge having 1.83-billion shares in issue and outstanding, the consolidation could reduce its common shares to 91.5-million.
In turn, the board believes a name change can highlight the company's focus on the Sunday Lake Deformation Zone, in Québec's Abitibi Greenstone Belt.
Wallbridge controls a 598 km2 land package along this highly productive geological gold trend.
