The board of directors at Tuscany Energy Ltd . (TSXV: TUS.V) approved a proposed 2-for-1 stock split of outstanding common shares, the company said Feb. 21.
The split is subject to TSX Venture approval and shareholders’ votes of approval, Tuscany added. If the split is approved, the amount of shares could increase to 38.8 million, up from 19.4 million, the company said.
The stock split could enhance the shares’ liquidity, the company said.
Calgary-based Tuscany Energy develops and produces heavy oil in Alberta and Saskatchewan.