Pathfinder Ventures Announces Effective Date of Share Consolidation
VANCOUVER, BC / July 30, 2024 / Pathfinder Ventures Inc. (TSXV: RV) (“Pathfinder“or the “Company“) announces that it will consolidate (the “Consolidation”) its common shares on the basis of four (4) pre-Consolidation shares for one (1) post-Consolidation share, effective as of the close of business on August 1, 2024. No fractional common shares will be issued, and fractions of less than one-half of a share will be cancelled and fractions of at least one-half of a share will be converted to a whole common share. Outstanding options, warrants and other rights to acquire common shares will likewise be adjusted for the Consolidation.
The Company currently has 93,681,976 common shares outstanding, and immediately following the Consolidation expects to have, subject to rounding adjustments, approximately 23,420,494 common shares outstanding (of which, subject to rounding adjustments, 281,595 will be subject to escrow). The Company expects that the Consolidation will provide the Company with increased flexibility in structuring and completing financings and potential business transactions.
There will be no change to the Company’s name or trading symbol. The Company expects that the TSX Venture Exchange (the “Exchange”) will issue a bulletin in short order, confirming that the Company’s common shares will commence trading on a post-Consolidation basis at the open on August 2, 2024. The new CUSIP/ISIN number for the post-Consolidation shares is 70323P206 / CA70323P2061.
Letters of Transmittal will be mailed to registered shareholders who hold share certificates, with instructions for the exchange of existing share certificates for new share certificates. Shareholders holding uncertificated shares (such as BEO, NCI and DRS positions) will not receive a Letter of Transmittal but will have their holdings adjusted electronically by the Company’s transfer agent and need not take any further action to exchange their pre-Consolidation shares for post-Consolidation shares.
The Company is also pleased to announce that it has received the Exchange’s conditional approval for its non-brokered private placement of up to 10,000,000 post-Consolidation units (the “Units”) at a price of $0.10 per Unit (for details, see news release dated July 8, 2024). Completion of the Private Placement remains subject to the final approval of the Exchange.
About Pathfinder Ventures Inc. (TSXV: RV):
Pathfinder Ventures is a premier operator of RV resorts and affordable manufactured housing communities, dedicated to providing outstanding hospitality and contemporary amenities as key aspects of its offerings. To learn more about Pathfinder, follow the link below:
http://www.pathfinderventures.ca/
On behalf of the board of directors:
Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.
Company Contact:
Joe Bleackley
Chief Executive Officer
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Website: PathfinderVentures.ca || PathfinderCampResorts.com
