Canadian-listed ReeXploration Inc. has secured approval from the TSX Venture Exchange to consolidate its shares on a five-for-one basis, reducing its issued and outstanding shares by 80% as it seeks to attract investment for its exploration activities in Namibia.
The consolidation, which takes effect on 6 November 2026, will reduce the company’s outstanding shares from approximately 135.2 million to 27 million, with trading on a post-consolidation basis expected to begin at the opening of the market on the same day.
ReeXploration said the move was intended to improve the marketability of its shares, attract a broader investor base and strengthen its ability to raise capital to support future exploration and project development.
Under the arrangement, shareholders will receive one new common share for every five existing shares held.
The consolidation was approved by the company’s board following shareholder approval at its annual and special meeting held on 28 September 2026.
The company said the transaction would not materially affect shareholders’ proportional ownership, except for minor adjustments resulting from the rounding of fractional shares.
Outstanding stock options and warrants will also be adjusted proportionately, while the company’s name and trading symbol, TSXV: REE, will remain unchanged.
ReeXploration is advancing the Eureka Project in central Namibia, where it is undertaking rare earth and uranium exploration activities.
The project is located in an established uranium-producing region and combines rare earth development opportunities with the evaluation of uranium mineralisation.
According to the company, its rare earth exploration programme is supported by the production of a clean monazite concentrate, while geological studies and targeted exploration activities are being undertaken to assess the project’s uranium potential.
The share consolidation forms part of ReeXploration’s efforts to improve its position in capital markets as it seeks additional funding to advance exploration and development activities at the Eureka Project.
The company has not disclosed a specific capital-raising target or announced new funding commitments linked to the consolidation.
