Luxxfolio Announces Share Consolidation to Streamline Operations

Luxxfolio Holdings Inc ( (TSE:LUXX) ) has issued an announcement.

Luxxfolio Holdings Inc. has announced a share consolidation, where every ten pre-consolidation common shares will be converted into one post-consolidation share, reducing the total number of outstanding shares from approximately 87.3 million to 8.7 million. This move, subject to Canadian Securities Exchange approval, aims to streamline the company’s share structure without altering its name or stock symbol, potentially impacting its market positioning and shareholder value.

More about Luxxfolio Holdings Inc

Luxxfolio Holdings Inc. is a publicly traded digital asset company based in Canada. It previously operated an industrial-scale cryptocurrency mining facility in the United States but closed its mining operations due to a downturn in the cryptocurrency markets. The company is focused on restructuring its finances and exploring new business opportunities, with the intention to remain in the digital asset business to provide a liquid alternative for exposure to digital assets in the broader capital markets.

YTD Price Performance: -40.0%

Average Trading Volume: 222,575

Technical Sentiment Consensus Rating: Hold

Current Market Cap: C$1.3M

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