ETF:CC - Eastfield Resources Ltd. Considers Share Consolidation
(TheNewswire)
Vancouver, BC, September 12, 2025 – TheNewswire - Eastfield Resources Ltd. (TSX-V: ETF) (“ Eastfield ” or the“ Company “) is considering the consolidation of outstanding sharecapital and announces that it will be seeking shareholder approval byway of a special resolution (the “Consolidation Resolution”) atits Annual General and Special Meeting (the “Meeting”) to be heldon October 17, 2025.
If the Consolidation Resolution is approved,Eastfield’s Board of Directors (the “Board”) will have theauthority to consolidate its issued and outstanding shares at a ratioof up to two (2) to one (1) (the “Consolidation”). The Boardwill also be permitted, without further shareholder approval, toselect a lower consolidation ratio if it deems appropriate.
If the shareholders approve the Consolidation, theBoard may implement the Consolidation, subject to acceptance from theTSX Venture Exchange, at any time subsequent to the Meeting. Inaddition, the Board may revoke the Consolidation Resolution andabandon the Consolidation without further approval or action by itsshareholders.
The Board believes that it is in the best interests ofthe Company to provide the Board with flexibility to reduce the numberof outstanding shares by way of the Consolidation as the consolidatedshare structure of the Company may make it easier for the Company toattract additional equity financing that may be required or desirableto maintain the Company or to further develop its business.
If approved by the shareholders and implemented by theBoard, the principal effects of the Consolidation would bethat:
the number of shares of the Company issued andoutstanding will be reduced from 61,561,585 shares to approximately30,780,793 shares if the Consolidation ratio of two (2) to one (1) isused; and
the exercise or conversion price and/or the number ofshares issuable under any of the Company’s outstanding convertiblesecurities, stock options and warrants would be proportionatelyadjusted after giving effect to the Consolidation based on theConsolidation ratio.
There will not be a change of name in conjunction withthe potential Consolidation.
Stock Options
The Company has approved thegranting of stock options to a consultant for the purchase of 300,000common shares of the Company. These options havea five-year term and allow the holder to purchase one common share ofthe company for $0.05 cents a share until September 12, 2030. Theoptions will vest immediately.
For more information, please visit the Company’swebsite at www.eastfieldresources.com .
David M Douglas, CPA, CA.
CFO and Director
Contact: (604) 681-7913 or Toll Free:888-656-6611
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this news release.
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