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Venerable Ventures proposes 1-for-10 share consolidation

Venerable Ventures Ltd. said Oct. 5 that it plans to consolidate its outstanding share capital on the basis of 1 post-consolidation share for 10 pre-consolidation shares, potentially reducing the company's 20,529,372 shares outstanding to about 2,052,937 shares.

The consolidation will not entail a change in the company's name and is subject to the approval of the TSX Venture Exchange.