CALGARY,
AB, Jan. 24, 2024 /CNW/ - CE Brands Inc.
(TSXV: CEBI) ("CE Brands" or the "Company") announces the
consolidation of its common shares on the basis of one (1)
post-consolidation common share for every ten (10)
pre-consolidation shares issued and outstanding as of the close of
business on January 24, 2023. The
shares are expected to begin trading on a consolidated basis on the
TSX Venture Exchange on Friday, January 26,
2024. The share consolidation was approved by the Company's
shareholders at the annual and special meeting held on December 4, 2024.
The Corporation shareholders will receive one (1)
post-consolidation common share for every ten (10)
pre-consolidation shares held by them. No fractional shares will be
issued as a result of the consolidation. Fractional interests will
be rounded to the nearest whole number of shares without any
consideration payable therefor.
The new ISIN number for the post-consolidation shares is
CA12513R3036. CE Brands' common shares will continue to trade under
the symbol "CEBI" and CE Brands' name will not change.
A letter of transmittal will be sent to registered shareholders.
Shareholders who hold their shares in brokerage accounts are not
required to take any action to effect an exchange of their common
shares.
About the Company
The Company develops products with leading manufacturers and
iconic brand licensors by utilizing proprietary data that
identifies key market opportunities.
Neither the TSX Venture Exchange nor its regulation services
provider (as defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this press
release.
For further information, please visit the website at
www.cebrands.co
Forward-looking
Information
This press release may contain forward-looking information
within the meaning of securities legislation, concerning the
Company's business and affairs. In certain cases, forward-looking
information can be identified by the use of words such as "plans",
"expects" or "does not expect", "intends", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or variations of
such words and phrases, or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken",
"occur", or "be achieved".
Statement of past performance should not be construed as an
indication of future performance. Forward-looking statements
involve significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not such results
will be achieved. this press release includes forward-looking
information with respect to CE Brands' plans to mail the
transmittal letter and the expected date that the shares will begin
trading on a consolidated basis. A number of factors, including
those discussed above, could cause actual results to differ
materially from the results discussed in the forward-looking
statements. Any such forward-looking statements are expressly
qualified in their entirety by this cautionary statement. Readers
are cautioned not to place undue reliance on such forward-looking
statements. Forward-looking information is provided as of the date
of this press release, and the Company assumes no obligation to
update or revise them to reflect new events or circumstances,
except as may be required under applicable securities
legislation.
SOURCE CE Brands Inc.
