FINWIRES · TerminalLIVE
FINWIRES

BeMetals Resumes Trading on TSXV; To Launch 1-For-10 Reverse Stock Split

By

BeMetals' (BMET.V) common shares will resume trading on the TSX Venture Exchange (TSXV), effective at the open of market on May 5, it said Friday.

The company also received approval from the TSXV to consolidate its outstanding common shares on the basis of one new common share for every 10 common shares. The reverse stock split will take effect at the start of trading on May 8.

The 294.4-million common shares issued and outstanding prior to the consolidation will be reduced to about 29.4-million common shares, the company said. It expects to send letters of transmittal to registered holders of its common shares for use in transmitting their existing share certificates to its registrar and transfer agent in exchange for new certificates representing the number of post-consolidation common shares to which each shareholder is entitled.

The company's shares last traded Apr. 15, closing at $0.06 on the TSXV.

Related Articles

Mining & Metals

Earnings Flash (BDGI.TO) Badger Infrastructure Solutions Posts Q1 Adjusted EPS US$0.22 Per Share Basic and Diluted

$BDGI.TO
Mining & Metals

Earnings Flash (BDGI.TO) Badger Infrastructure Solutions Ltd. Reports Q1 Revenue US$203.2M, Up 18%; 13% EBITDA Growth

$BDGI.TO
Mining & Metals

Sun Life Financial Reaches Settlement in Principle to Resolve MetLife Class Action; AM Best Affirms Credit Ratings

Sun Life Financial (SLF.TO) Thursday after trade said it has reached a settlement in principle to resolve a class action relating to individual life insurance policies sold and issued by MetLife in the 1980s and 1990s, which Sun Life inherited through acquisitions.This matter does not involve any policies or products sold by Sun Life, the company said.If approved, Sun Life would provide up to $213.5 million settlement value to eligible policyholders, which is expected to result in a charge to first quarter 2026 reported net income of approximately $145 million.The proceedings relate to the interpretation of policy language in the policies, which are subject to an indemnity from MetLife. Sun Life will seek full recourse from MetLife pursuant to the indemnity, if the settlement is approved, it confirmed.Separately, AM Best affirmed the financial strength rating (FSR) of A+ (Superior) and the long-term issuer credit ratings (Long-Term ICR) of "aa" (Superior) of Sun Life Assurance Company of Canada and Sun Life and Health Insurance Company (U.S.), core insurance subsidiaries of Sun Life Financial. AM Best also affirmed the Long-Term ICR of "a" (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of SLF. The outlook of these ratings is stable.The ratings reflect Sun Life Group's balance sheet strength, which AM Best assesses as strongest, strong operating performance, favorable business profile and very strong enterprise risk management.Sun Life Financial shares are unchanged at US$72.08 in U.S. after-hours trade. It closed up $1.30, to $97.87 on the Toronto Stock Exchange.

$SLF$SLF.TO