Consequently, shareholders as of the record date will receive, on March 2, 2021, two additional common shares for each common share held. In accordance with the company's Articles, shareholder approval was not required for the stock split. The company will not be changing its name, CUSIP or its current trading symbol in connection with the stock split.
The common shares are expected to begin trading on a split-adjusted basis on or around February 22, 2021.
In a statement, David Greenway, Bam Bam's president & CEO commented: "We initiated this share split to enhance trading volume for the stock and assist in acquiring new shareholders for the three exchanges we are listed on. This split will also grant existing shareholders a larger position with the Company and add to the excitement for the upcoming year and our initiative."
Shareholders do not need to take any action. The company's transfer agent will send to all registered shareholders, on the payment date, a notice under the direct registration system indicating the number of additional common shares that they received as a result of the stock split. These additional common shares will be held in book-entry form and registered electronically in the transfer agent's recordkeeping system, unless a physical share certificate is requested by the registered shareholder.
Currently outstanding share certificates representing common shares of the Ccmpany will continue to be effective. They should be retained by registered shareholders and should not be forwarded to the company or its transfer agent. Non-registered shareholders will have their brokerage accounts automatically updated to reflect the stock split.
After giving effect to the stock split, the company will have approximately 64,994,853 common shares outstanding. The company's authorized share capital will remain unchanged. Outstanding stock options, RSUs and share purchase warrants will also be adjusted by the stock split ratio and the respective exercise prices of outstanding stock options and share purchase warrants will be adjusted accordingly.
Bam Bam Resources is engaged in the identification, review and acquisition of latter stage copper and copper/gold assets. The group's flagship project is the Majuba Hill copper-gold project located 156 miles outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining-friendly jurisdictions and government regulations supportive of mining operations.
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