Energy Fuels Inc. (TSX:EFR,OTCQX:EFRFF) announced that at a special meeting held on October 30, 2013, shareholders of Energy Fuels authorized an amendment to the Company’s articles to consolidate the issued and outstanding shares of the Company.
As quoted in the press release:
hareholders of Energy Fuels authorized an amendment to the Company’s articles to consolidate the issued and outstanding shares of the Company on the basis of one (1) post-consolidated common share for up to fifty (50) issued and outstanding common shares (the “Consolidation”). Of the votes cast at the Energy Fuels shareholders’ meeting, 93.4% were in favour of the Consolidation.
At a meeting of the Board of Directors of Energy Fuels following the special meeting of shareholders, the Board of Directors determined the share consolidation ratio to be fifty (50) pre-consolidation common shares for one (1) post-consolidated common share. The Board of Directors also authorized the filing of the articles of amendment with respect to the Consolidation with an effective date of November 5, 2013. It is anticipated that the common shares of Energy Fuels will begin trading on the Toronto Stock Exchange on a post-consolidated basis on November 5, 2013.