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Silver Spruce Resources Inc. Implements Reverse Stock Split
Financial Modeling Prepยท 2025-11-02 15:00
Core Viewpoint - Silver Spruce Resources Inc. (SSEBF) is implementing a reverse stock split to consolidate shares and enhance its market position, aiming to attract more investors and improve visibility in the market [2][3][4] Company Overview - SSEBF is a mineral exploration company focused on acquiring and developing precious and base metal properties, primarily operating in North America, especially in Canada and Mexico [1] - The company competes with other exploration firms in the region to discover and develop valuable mineral resources [1] Reverse Stock Split Details - On November 4, 2025, SSEBF will execute a reverse stock split, exchanging 1 share for every 15 shares, reducing the number of common shares from over 324 million to approximately 21.6 million [2] - The current stock price is $0.00812, and the consolidation aims to increase this price and strengthen the company's market position [2][3] - The effective date for the consolidation is set for October 31, 2025, pending regulatory approvals [4] Stock Performance - SSEBF's stock has shown volatility, trading between a low of $0.0026 and a high of $0.0218 over the past year [3] - The stock fluctuated between $0.00812 and $0.0089 during the trading day, with a market capitalization of approximately $2.63 million and a trading volume of 101,000 shares [3] Strategic Intent - The reverse stock split is part of a broader strategy to streamline the company's share structure and strengthen its financial position, supporting ongoing exploration activities [4]