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Galaxy Ventures to Resume Trading as TruSilver Metals Under Symbol TAG Following Transaction

NeutralMedium impact
GXY.PCA$0.0800 0.00%

Galaxy Ventures Inc. (GXY.P) expects to complete its qualifying transaction with TruSilver around October 20. Following the transaction, the combined company will operate as TruSilver Metals Corp. and is scheduled to begin trading on the TSX Venture Exchange under ticker symbol TAG on or about October 27, pending final exchange acceptance.

Prior to closing, the company will undergo a 1-for-2.5 share consolidation. The transaction follows the completion of a $2.83 million concurrent financing. The capital raised will fund initial exploration drilling and provide working capital as the company lists as a Tier 2 mining issuer.

Investors should watch for the anticipated deal closing around October 20 and final exchange approval leading into the October 27 relisting date. Future milestones will center on the start of drilling operations and subsequent exploration results.

Key points

  • Galaxy Ventures Inc. expects to close its transaction with TruSilver around October 20.
  • Trading on the TSX Venture Exchange is scheduled to start on or about October 27 under ticker symbol TAG.
  • A 1-for-2.5 share consolidation will occur prior to closing the transaction.
  • Concurrent financing raised $2.83 million to fund initial exploration drilling and working capital.
  • The resulting issuer will be named TruSilver Metals Corp. and list as a Tier 2 Mining Issuer.

Written by our AI from expert market sources across the web. It can contain mistakes: check the facts before acting on them. Write-ups powered by the free AI API at FreeTheAI.org

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Questions and answers

When will Galaxy Ventures resume trading as TruSilver Metals?

Galaxy Ventures expects trading on the TSX Venture Exchange to begin on or about October 27 under ticker symbol TAG, subject to final exchange acceptance.

What is the new ticker symbol for TruSilver Metals Corp.?

Following the completion of its qualifying transaction, the company will trade on the TSX Venture Exchange under ticker symbol TAG.

Will Galaxy Ventures consolidate its shares before closing?

Yes, a 1-for-2.5 share consolidation will take place prior to closing the transaction with TruSilver.