Kivalliq Energy Corp. plans to undertake a share consolidation and rebrand as ValOre Metals Corp.

The company said June 13 that it will consolidate its shares on a 1-for-10 basis. The current 247,246,731 shares issued and outstanding will reduce to about 24,724,673 following consolidation.

The effective date of the share consolidation and name change will be disclosed later.

Additionally, Kivalliq noted that it is reviewing several potential financing alternatives to take advantage of its improved capital structure post-consolidation.

The Vancouver, British Columbia-based company holds a portfolio of uranium and precious metal exploration projects in Canada.