1319741 B.C. LTD. ANOUNCES STOCK SPLIT
TORONTO, ONTARIO, CANADA, May 25, 2023/EINPresswire.com/ -- Toronto, May 25, 2023 – 1319741 B.C. Ltd. (“741” or the “Company”) is pleased to announce that its Board of Directors has approved of a 1-old for 2 million-new stock split of its issued and outstanding common shares. The stock split will be effective on May 25, 2023.
As a result of the stock split, each shareholder of record on May 25, 2023 will receive two million additional shares for every one share owned. The Company's outstanding shares will increase from 36 shares to 72 million shares. The Company’s new CUSIP is 68251F307 and its new ISIN is CA68251F3079.
There will be a mandatory exchange of certificates following the effective time of the stock split. Shareholders will not be charged for the issuance of a new share certificate reflecting the post-split shares and new CUSIP number. Shareholders of record as of the effective date who hold Common Shares represented by a DRS (direct registration system) statement will receive an updated DRS statement from the transfer agent for the Company, Endeavor Trust Corporation, representing Common Shares on a post-split basis.
Beginning on May 25, 2023, each outstanding certificate representing pre-split shares will be deemed for all corporate purposes after the effective time of the reverse stock split to evidence ownership of the appropriate number of post-split shares.
On behalf of the Board of Directors
Binyomin Posen
Chief Executive Officer, Chief Financial Officer & Director
T: 416 481 2222
E: bposen@plazacapital.ca
No recognized securities exchange accepts responsibility for the adequacy of this press release, which has been prepared by management of the Company.
Cautionary Note Regarding Forwarding-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. All statements, other than statements of historical fact, included herein, including without limitation, the Company's plans to explore certain acquisition targets are forward-looking statements. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
As a result of the stock split, each shareholder of record on May 25, 2023 will receive two million additional shares for every one share owned. The Company's outstanding shares will increase from 36 shares to 72 million shares. The Company’s new CUSIP is 68251F307 and its new ISIN is CA68251F3079.
There will be a mandatory exchange of certificates following the effective time of the stock split. Shareholders will not be charged for the issuance of a new share certificate reflecting the post-split shares and new CUSIP number. Shareholders of record as of the effective date who hold Common Shares represented by a DRS (direct registration system) statement will receive an updated DRS statement from the transfer agent for the Company, Endeavor Trust Corporation, representing Common Shares on a post-split basis.
Beginning on May 25, 2023, each outstanding certificate representing pre-split shares will be deemed for all corporate purposes after the effective time of the reverse stock split to evidence ownership of the appropriate number of post-split shares.
On behalf of the Board of Directors
Binyomin Posen
Chief Executive Officer, Chief Financial Officer & Director
T: 416 481 2222
E: bposen@plazacapital.ca
No recognized securities exchange accepts responsibility for the adequacy of this press release, which has been prepared by management of the Company.
Cautionary Note Regarding Forwarding-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. All statements, other than statements of historical fact, included herein, including without limitation, the Company's plans to explore certain acquisition targets are forward-looking statements. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the business plans described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
Binyomin Posen
1319741 B.C. LTD.
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