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An announcement from Devonian Health Group ( (TSE:GSD) ) is now available.
Devonian Health Group has approved a 1-for-60 reverse stock split of its common shares as it advances plans for a potential U.S. stock exchange listing, with shareholder backing of nearly 100% and implementation expected around January 22, 2026 on the TSX Venture Exchange and OTCQB. The consolidation, which will reduce the number of outstanding shares from about 165.9 million to roughly 2.77 million and adjust holdings without requiring action from most investors, is intended to raise the share price to broaden the investor base and help the company meet minimum price requirements for a prospective U.S. listing, signaling a strategic move to enhance market visibility and access to capital.
More about Devonian Health Group
Devonian Health Group Inc. is a Québec-based clinical-stage pharmaceutical company focused on developing prescription drugs for fibroinflammatory autoimmune diseases, including atopic dermatitis, radiodermatitis and ulcerative colitis. The company also develops high-value cosmeceutical products using the same proprietary approach and operates a commercialization subsidiary, Altius Healthcare LP, which concentrates on selling prescription pharmaceuticals.
Average Trading Volume: 31,005
Technical Sentiment Signal: Buy
Current Market Cap: C$29.87M
For an in-depth examination of GSD stock, go to TipRanks’ Overview page.