Loading ...Great Panther Mining (NYSE:GPL) said on Monday it will consolidate its common shares on the basis of one post-consolidation share for every 10 pre-consolidation shares.
The company currently has 471,164,174 shares issued and outstanding; upon completion of the consolidation, it will have ~10% of the current share total.
Great Panther (GPL) said the move will allow it to comply with the minimum price listing standard of the NYSE American exchange and maintain its listing.
The company expected to begin trading on a post-consolidation basis on the NYSE American and Toronto stock exchanges on or about July 25.
While production is expected to rise sharply in H2, Great Panther (GPL) “will still have some of the weakest margins sector-wide, making it much higher risk than its junior producer peers,” Taylor Dart writes in an analysis posted on Seeking Alpha.
https://seekingalpha.com/news/3855856-great-panther-mining-unveils-10-for-1-reverse-stock-split