Planet Ventures Inc. has announced that its board of directors has approved a proposed 5-for-1 share consolidation, subject to approval by the Canadian Securities Exchange. Under the plan, five pre-consolidation shares would be combined into one post-consolidation share.
The Vancouver, British Columbia-based company said the consolidation is intended to make its shares more attractive to potential new investors. Planet Ventures trades on the CSE under the ticker PXI, on the OTC Pink market as PNXPF and in Germany on the FSE as P6U.
The company said it will not change its name in connection with the consolidation. Planet Ventures, described as an investment issuer that invests in companies across various industries, plans to issue another news release announcing the effective date and final consolidation ratio after receiving exchange approval.
