Adamera Minerals Plans Share Consolidation

Adamera Minerals (TSE:ADZ) has released an update.

Adamera Minerals Corp. is set to propose a share consolidation that would convert every ten existing shares into one new common share, pending shareholder approval at their Annual General Meeting on June 5, 2024. The consolidation would significantly reduce the number of issued shares from over 238 million to around 23.8 million, following which the company plans to explore new financing options, subject to regulatory approval. Adamera, a company engaged in gold exploration in an area historically producing 8 million ounces, is positioning itself for strategic financial growth.

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