Valhalla Metals Simplifies Capital Structure
Valhalla Metals (VMXX.V) simplified its share structure by eliminating its multiple voting shares and renaming its subordinate voting shares as common shares, it said Wednesday.The company's authorized share capital now consists of an unlimited number of common shares with no par value, with about 151.1 million shares issued and outstanding.The common shares are expected to begin trading on the TSX Venture Exchange under a new CUSIP and ISIN at market open Friday."With a single class of common shares, our corporate structure better reflects the company we are today and provides greater clarity for investors as we continue to execute on our growth strategy," said Valhalla Metals CEO Sorin Posescu. "We remain focused on advancing our high-grade VMS projects in Alaska and creating long-term value for all shareholders."Shares of the company closed down 6.8% to C$1.10 on Tuesday on the TSX Venture Exchange.
