iMetal Resources Inc. (OTCMKTS:ADTFF) stock is up over 27% in the past week. The company announced that effective at the end of business on Thursday, January 13, 2022, the company will consolidate its common shares on a 5-to-1 basis.
On Tuesday, ADTFF stock ended flat at $0.0382 with more than 10k shares, compared to its average volume of 13K shares. The stock has moved within a range of $0.0382 – 0.0382 after opening trading at $0.0382.
iMetal Confirms Effective Date for Share Consolidation
As a result, the company’s common shares will begin trading under the current ticker symbol “IMR”post-consolidation at the opening of markets on January 14, 2022. Currently, the company has 51.730 million outstanding common shares. It is estimated to have around 10.35 million shares outstanding after the Consolidation is completed.
Per the Consolidation, the company will not issue fractional shares. Shareholders who might be entitled to fractional shares will have their shares rounded up to the closest whole number of ordinary shares, and no financial consideration will be provided. Computershare Investor Services Inc. will send a letter of transmittal to registered holders of the company’s common shares with guidelines on how to change current share certificates for post-consolidation share certificates. Therefore in the coming weeks, investors should watch ADTFF.
ADTFF stock is trading below the 10-Day and 20-Day Moving averages of $0.0344 and $0.0335 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0668.