Stellar AfricaGold (TSE:SPX) has released an update.
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Stellar AfricaGold Inc. is set to undergo a share consolidation, exchanging one post-consolidation share for every ten pre-consolidation shares, aimed at streamlining its capital structure to enhance financing for its gold projects in Morocco and Côte d’Ivoire. The consolidation is scheduled to take effect on May 24, 2023, with the expected outcome being a reduction in outstanding shares from over 120 million to approximately 12 million. This strategic move follows the acquisition of a new exploration permit in Côte d’Ivoire and positive progress at their Tichka Est project in Morocco.
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