Jerritt Canyon is one of Yukon-Nevada's mining sites. — Photo courtesy Yukon-Nevada Gold Corp. Vancouver-based Yukon-Nevada Gold Corp. has announced
Jerritt Canyon is one of Yukon-Nevada's mining sites. — Photo courtesy Yukon-Nevada Gold Corp.
Vancouver-based Yukon-Nevada Gold Corp. has announced that the board of directors has authorized management to pursue a listing of the company’s shares on the NYSE MKT exchange (the “exchange”) (formerly AMEX Exchange) to complement the current TSX listing. In conjunction with the NYSE MKT listing the company will implement a consolidation of its outstanding shares to comply with the listing requirements of the exchange.
Shaun Heinrichs, co-CEO said, “This is a significant milestone for the company. We have received near universal requests from investors to make the move to a US Exchange and to consolidate the outstanding shares. This action demonstrates that we are taking the steps required to provide improved market access for new and existing shareholders. The listing and share consolidation will improve trading logistics and open the door to US investors that are currently unable to invest. With our primary producing operations located in Nevada, we believe that supporting the US investor base with this move is a logical next step in increasing market interest in our company. A consolidated share price is also likely to increase investor participation in Canada for our TSX listing.”
The exchange requires a minimum $2 share price to qualify for initial listing, which at the current share price would require a minimum 1-for-8 share consolidation. Subject to the company meeting both the quantitative and qualitative criteria of the exchange, the listing is expected to occur early in fourth quarter of this calendar year.
To this end the company has initiated a Special Meeting of Shareholders to take place on October 2, 2012 to vote on the consolidation.
