Vela shares surge on adjusted holding in North Peak Resources
By Josh White
Date: Friday 03 Jul 2020
(Sharecast News) - Vela Technologies updated the market on its holding of North Peak Resources on Friday, following North Peak's change of business transaction.
The AIM-traded firm said the transaction resulted in North Peak being regarded as a tier 2 mining issuer under the policies of the TSX Venture Exchange.
As a result, trading in the common shares of North Peak began trading on TSX-V on 30 June.
"In conjunction with the change of business transaction, North Peak Resources has completed a consolidation of its share capital on a two-for-one basis," the board said in its statement.
"Therefore, Vela now owns 310,000 common shares in North Peak Resources, equivalent to approximately 1.75% of North Peak's issued share capital."
It added that North Peak's closing mid-market price on 2 July was 78 Canadian cents per share, valuing Vela's shareholding CAD 0.24m (£0.14m).
At 1430 BST, shares in Vela Technologies were up 21.43% at 0.085p.
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