Rex Resources Announces Share Consolidation Effective Date

Rex Resources Corp. ( (TSE:OWN) ) has issued an update.

Rex Resources Corp. has announced the effective date for its share consolidation, which will see one new share issued for every three old shares. The consolidation, approved by the board of directors, is expected to take effect on June 4, 2025, with the company’s shares trading on a post-consolidation basis on the TSX Venture Exchange. This move will reduce the number of issued and outstanding shares from 24,019,285 to approximately 8,006,428, while maintaining the company’s name and trading symbol. The consolidation aims to streamline the company’s share structure, potentially enhancing its market positioning and appeal to investors.

Spark’s Take on TSE:OWN Stock

According to Spark, TipRanks’ AI Analyst, TSE:OWN is a Underperform.

Rex Resources Corp. is currently in a challenging financial position, with significant profitability and cash flow issues. Technical indicators suggest a continued bearish trend, and unfavorable valuation metrics further weigh on the stock. While corporate events such as board changes and share consolidation may provide some strategic direction, the company’s core financial difficulties remain the primary concern.

To see Spark’s full report on TSE:OWN stock, click here.

More about Rex Resources Corp.

Rex Resources Corp. is a mineral exploration company focused on acquiring, exploring, and developing mineral resource properties. The company owns a 100% interest in eight contiguous mineral claims near Port Alberni, British Columbia, known as the Rex Property, and has the option to acquire an additional eight mineral claims nearby, known as the Macktush Property.

Average Trading Volume: 167,071

Technical Sentiment Signal: Sell

Current Market Cap: C$613K

For an in-depth examination of OWN stock, go to TipRanks’ Stock Analysis page.