Snow Lake Resources Ltd. announced it will effect a 1-for-13 reverse stock split of its common shares, effective at 1:01 a.m. Eastern Time on Friday, May 2, 2025. The company's common shares will commence trading on a post-split basis at the market opening on the same day.
The primary purpose of this reverse stock split is to bring the company into compliance with the US$1.00 minimum bid price requirement for maintaining its listing on the Nasdaq Capital Market. The split was approved by the board of directors on April 11, 2025, and by shareholders on May 8, 2024.
The reverse stock split will reduce the number of issued and outstanding common shares from approximately 101,704,516 to approximately 7,823,360. This action will affect all shareholders uniformly and will not alter any shareholder's relative interest in the company's equity securities, except for adjustments for fractional shares.
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