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Coronado Resources to undertake 1-for-2 share consolidation
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Coronado Resources Ltd. secured TSX Venture Exchange approval for a planned 1-for-2 share consolidation, according to an Oct. 13 release.
The company currently has 5,662,340 shares issued and outstanding, which will be reduced to about 2,831,170 shares following consolidation.
According to the statement, the consolidation is expected to increase Coronado's flexibility and competitiveness in the market and will make the company's stock more attractive to investors.