The proposal and meeting are cancelled
Nevada Organic Phosphate said on November 10 that its board will not proceed for now with the proposed consolidation of one new common share for every three existing shares.
The special shareholder meeting scheduled for December 30, 2026, to consider the proposal has also been cancelled. The company had announced the proposal on November 9.
What the company says changes for holders
According to the cancellation release, shareholders do not need to take action over this proposal. The common shares will continue trading on the Canadian Securities Exchange under NOP on an unconsolidated basis.
The company says its outstanding common shares, options and warrants remain on their existing terms. This is a cancellation of the proposed corporate action, not confirmation that a consolidation was completed and then reversed.
A future proposal would need fresh approval
The board says it may reconsider a consolidation later. Its release states that a future consolidation would require new board and shareholder approvals.
The linked issuer announcement provides the cancellation terms; the earlier company statement records what had been proposed. This report does not establish a market-price reaction or make a forecast about the shares.
