Arkadian Strategic Metals plc has proposed a share consolidation to meet the minimum bid price to list on the OTCQB venture market and attract North America investors, institutions and government agencies.
The company holds a 51% stake in the Motzfeldt niobium-tantalum-zirconium-rare earth elements project, and 24.95% in GreenRoc Strategic Minerals which owns the Amitsoq graphite and Thule Black Sands ilmenite projects, all in southern Greenland.
Arkadian additionally has an earn-in over the Finnsbo gold-rare earth elements project located in Bergslagen, Uppland, eastern Sweden.
The consolidation is based on one new ordinary share of 1.5 pence nominal value for every 1,500 existing ordinary shares of 0.001p nominal value.
The company noted current OTCQB rules required a closing bid price of at least US$0.05 per share over the 30 consecutive calendar days immediately before admission.
Following the consolidation, Arkadian’s ordinary shares in issue will reduce from 25,981,155,000 to 17,320,770, before the issue of any further shares.
The company said it would retain the aggregate sale of fractional entitlements to new ordinary shares without any payment to shareholders.
An additional 792 existing ordinary shares will be issued to non-executive director Michael Nott, at a market subscription price of 0.0105 pence per share, to ensure the total number of shares can be divided by 1,500.
Following admission of the 792 new existing ordinary shares, the company’s issued share capital and total voting rights will be 25,981,155,000.
Arkadian added: “The board considers that broadening the company’s exposure to institutional and North American investors is an important strategic objective, given the significance of Greenland’s critical mineral resources to secure Western supply chains.
“Greater engagement with investors focused on this sector could improve recognition of the potential of the company’s assets, broaden its sources of development capital and, over time, support a valuation that more fully reflects that potential.”
The share consolidation and application to list on the OTCQB market is subject to shareholders’ approval at a general meeting at 9am on 26 October 2026.