Global Battery Metals Announces Share Consolidation
Vancouver, British Columbia -- February 19, 2025 -- NewsGenie -- Global Battery Metals Ltd. (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) has announced that its board of directors has approved a consolidation of the Company’s common shares on a 10-to-1 basis. This decision follows shareholder approval at the Annual General and Special Meeting on January 31, 2025.
The Consolidation will reduce the number of outstanding Common Shares from 78,539,280 to approximately 7,853,928. The exercise price and number of shares issuable under outstanding stock options, warrants, or convertible securities will be adjusted proportionately. Fractional shares will be rounded down to the nearest whole number, with no cash consideration paid.
The Consolidation is subject to regulatory approval, including acceptance by the TSX Venture Exchange. The Company will issue a subsequent news release with the effective date, new CUSIP and ISIN, and other relevant details upon receipt of TSXV approval. The Company anticipates that its current trading symbol will remain unchanged.
Global Battery Metals Ltd. is focused on lithium, copper, and other battery metals. The Company holds interests in the Leinster Lithium Property, additional licenses contiguous to the Leinster Lithium Project, the Lithium King Property in Utah, and a 55% stake in the Lara Copper Property in Peru. Minsur S.A. has an option to acquire the Lara copper property for staged payments of USD$5.75 million, with GBML retaining a 0.75% net smelter return royalty.