SplitMay 26, 2026, 04:18 PM
Greenland Mines Seeks Shareholder Approval for 1-for-2 to 1-for-60 Reverse Stock Split
AI Summary
Greenland Mines Ltd will hold a Special Meeting of Stockholders on June 18, 2026, to vote on a proposal to effect one or more reverse stock splits. The proposed exchange ratio for each split is between 1-for-2 and 1-for-50, with the aggregate not exceeding 1-for-60, at the discretion of the Board of Directors until March 31, 2027. The primary goal is to increase the per share market price of its common stock to meet Nasdaq's minimum bid price requirement of $1.00. Shareholders will also vote on a proposal to adjourn the meeting if needed to solicit additional proxies.
Key Highlights
- Shareholders to vote on a reverse stock split at a Special Meeting on June 18, 2026.
- Proposed reverse stock split ratio range is 1-for-2 to 1-for-50, with the aggregate not exceeding 1-for-60.
- The Board of Directors has discretion to effect the split until March 31, 2027.
- The primary purpose is to regain and maintain the Nasdaq minimum bid price of $1.00 per share.
- The record date for voting at the Special Meeting is April 23, 2026.
- Greenland Mines Ltd has 121,238,660 shares of common stock issued and outstanding.
- The company also seeks approval for adjournment of the Special Meeting if necessary to solicit additional proxies.
- Advantage Proxy, Inc. was retained for proxy solicitation for approximately $10,000.
Price Impact
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