Eastfield Resources Ltd. Considers Share Consolidation

Core Viewpoint - Eastfield Resources Ltd. is seeking shareholder approval for a consolidation of its outstanding share capital at a ratio of up to 2:1, which may facilitate attracting additional equity financing [1][2][4]. Group 1: Consolidation Details - The Board of Directors will have the authority to consolidate shares at a ratio of up to 2:1, with the option to select a lower ratio if deemed appropriate [2]. - If approved, the number of shares will be reduced from approximately 61,561,585 to about 30,780,793 shares under the 2:1 ratio [9]. - The Board may implement the consolidation after the Annual General and Special Meeting, subject to TSX Venture Exchange acceptance [3]. Group 2: Rationale and Implications - The consolidation aims to provide flexibility for the Company to reduce outstanding shares, potentially making it easier to attract additional equity financing [4]. - There will be no change of name associated with the consolidation [5]. - The exercise or conversion price of outstanding convertible securities, stock options, and warrants will be proportionately adjusted based on the consolidation ratio [9]. Group 3: Stock Options - The Company has approved stock options for a consultant to purchase 300,000 common shares at $0.05 per share, with a five-year term and immediate vesting [6].