(via TheNewswire)
Following the Consolidation, the Corporation will have approximately 4,246,571 Common Shares outstanding, subject to rounding (169,862,828 Common Shares are outstanding currently). No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would have otherwise been issued will be rounded down or up to the nearest whole Common Share, with 0.5 of a Common Share being rounded up.
A letter of transmittal will be sent by mail to registered shareholders advising them that the Consolidation has taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or Direct Registration System ("DRS") statements evidencing their pre-consolidation Common Shares for new share certificates or new DRS statements representing the number of post-Consolidation Common Shares to which they are entitled.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding warrants, stock options and restricted share units will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof.
The Company is implementing the Consolidation to increase the trading price of the Common Shares in order to potentially broaden the pool of investors that may consider investing in the Company, thereby increasing liquidity, and to maintain the minimum closing bid price required by the OTCQB in order to maintain the Company's listing.
The Company will not be changing its name in connection with the Consolidation.
ABOUT
On behalf of:
"Ranjeet Sundher"
For more information, please contact:
Tel: 403-537-0067
Email:corp@deepmarkit.com
Web:www.deepmarkit.com/
Twitter: @DeepMarkit
Neither the
CAUTIONARY STATEMENT
Statements in this news release may contain forward-looking information. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements, including statements relating to the completion of the Consolidation, the effective date of the consolidation, the expected date that the Common Shares will resume trading on the Exchange, and the expected benefits of the Consolidation. The reader is cautioned that assumptions used in the preparation of anyforward-lookinginformation may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of
The forward-looking statements contained in this news release are made as of the date of this news release and
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