Baja Mining Corp. said Oct. 5 that its directors have approved the consolidation of the company's outstanding share capital on the basis of 1 post-consolidation share for 20 pre-consolidation shares and decided to change the company's name to Camrova Resources Inc.
The company's shareholders approved the consolidation during the annual and special meeting in December 2015.
Baja Mining's planned share consolidation remains subject to the approval of the TSX Venture Exchange and will reduce Baja Mining's approximately 340.2 million shares outstanding to about 17.0 million post-consolidation common shares.
The miner will provide further details on the consolidation and the name change after receiving TSX-Venture Exchange approval. Meanwhile, its shares will continue trading on the bourse under its BAJ ticker.