- Tectonic Metals (OTCQB:TETOF) announces a 1:10 share consolidation effective May 20, 2025.
- The consolidation will reduce outstanding shares from 419.8 million to approximately 42 million.
- This strategic move aligns with strengthening gold prices and increased institutional interest in gold.
Tectonic Metals Inc. (OTCQB:TETOF) has confirmed the effective date of its 1:10 reverse stock split as May 20, 2025. This consolidation will significantly decrease the number of shares from the current 419,853,777 to about 41,985,378 shares, subject to rounding adjustments. The move aims to strategically position the company to benefit from rising gold prices and growing institutional interest.
Shareholders approved this consolidation in September 2023, and it received Board approval in April 2025. While the company's name and trading symbol will remain unchanged, the new CUSIP will be 87877T608, and the ISIN is CA87877T6088. All outstanding warrants and stock options will be adjusted proportionately to reflect the consolidation ratio.
No fractional shares will be issued; instead, they will be rounded down to the nearest whole share without cash consideration. Shareholders holding shares in brokerage accounts or book-entry form are not required to take any action. Meanwhile, registered shareholders will receive a letter of transmittal with instructions for surrendering their existing share certificates in exchange for the post-consolidation shares.
