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METAVILLE ANOUNCES SHARE CONSOLIDATION

TORONTO, ONTARIO, CANADA, August 4, 2023/EINPresswire.com/ -- Metaville Labs Inc. (the “Company” or “Metaville”) is pleased to announce that, effective as of today, it has completed a consolidation of the Company’s issued and outstanding common shares (each, a “Common Shares” and, collectively, the “Common Shares”) on the basis of 1 post-consolidation Common Share for every 100 pre-consolidation Common Shares (the “Consolidation”). The Consolidation was approved by the Company’s board of directors on July 31, 2023.

Prior to the Consolidation, the Company had 26,462,129 Common Shares issued and outstanding. As a result of the Consolidation, the Company has approximately 264,620 Common Shares issued and outstanding. Any resulting fractional share entitlement remaining after the Consolidation that is less than one-half of one (0.5) Common Share will be cancelled and each fractional Common Share that is at least one-half of one (0.5) Common Share will be changed to one (1) whole Common Share. The Company’s new CUSIP is 59141T201 and its new ISIN is CA59141T2011.

There will be a mandatory exchange of certificates following the effective time of the Consolidation. Shareholders will not be charged for the issuance of a new share certificate reflecting the post-Consolidation 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-Consolidation basis.

Beginning on August 4, 2023, each outstanding certificate representing pre-Consolidation shares will be deemed for all corporate purposes after the effective time of the Consolidation to evidence ownership of the appropriate number of post-Consolidation shares.

On behalf of the Board of Directors

Binyomin Posen
CEO, CFO & Director
Telephone: 416 481 2222
Email: 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

This press release contains "forward-looking statements". Forward-looking statements can be identified by words such as: anticipate, intend, plan, goal, seek, believe, project, estimate, expect, strategy, future, likely, may, should, will and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Binyomin Posen
Metaville Labs Inc.
+1 4164812222
email us here