Key Highlights

• Patriot Gold Corp has approved a reverse stock split of its common stock, subject to regulatory approval.

• The company's board of directors and principal stockholders approved the plan on October 7, 2025.

• The reverse stock split is expected to adjust the number of outstanding common shares without changing stockholders' proportionate interest in the company.

Introduction Overview

Patriot Gold Corp, a mining company, has announced a plan to implement a reverse stock split of its common stock, which is listed on the OTC market under the ticker PGOL. The company's board of directors and principal stockholders approved the plan on October 7, 2025. This move is subject to regulatory approval and is expected to adjust the company's common stock outstanding.

Regulatory Approval

The reverse stock split plan is subject to review by the Financial Industry Regulatory Authority (FINRA), which will determine the effective date of the split. The company is preparing the necessary materials to comply with FINRA's requirements. The Securities Exchange Act of 1934 dictates that companies must adhere to regulatory processes when implementing such changes.

Stockholder Impact

The reverse stock split will preserve stockholders' proportional interests in Patriot Gold Corp, although minor adjustments may occur due to rounding of fractional shares. Each share of common stock will retain its rights related to voting, liquidation, and dividends. Stockholders will continue to enjoy their existing rights, including participation in asset distributions during liquidation.

Financial Reporting

The company plans to retroactively adjust all share and per-share information to reflect the reverse stock split in its forthcoming financial reports and regulatory filings. This ensures the financial statements accurately represent the changed capital structure of the company. The reverse stock split will not impact the total stockholders' equity of the company, as the changes in the number of shares will be offset by adjustments in the par value structure.

Implementation Timeline

The record date, effective date, and the date when the company's common stock will begin trading on a split-adjusted basis have yet to be determined. The company will make a public announcement regarding these dates once the FINRA review process is concluded, and the specific timelines are finalized. As of July 1, 2026, the company is still working towards establishing an implementation schedule for the reverse stock split.

Share Structure

The reverse stock split will adjust the number of outstanding common shares while maintaining the par value of the common stock. The company's common stock is not subject to redemption and does not carry subscription or conversion rights. The split shares issued following the reverse stock split will be fully paid and non-assessable.

Update History

The company's board of directors and principal stockholders approved the reverse stock split plan on October 7, 2025. Since that time, the company has been working on the implementation of this plan, contingent upon regulatory approval. As of 2026, efforts to finalize the reverse stock split continue.

 

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.