VANCOUVER, Aug. 15, 2019 /CNW/ - Virtual currency
applications developer, Interlapse Technologies
Corp. (TSXV: INLA), announces that it will forward
split its common shares on the basis of two (2) new common shares
for each one (1) old common share. All shareholders of record on
August 23, 2019 will be entitled to
the stock split.
Interlapse currently has 8,732,822 common shares issued and
outstanding, which will be increased to approximately 17,465,644
common shares after the stock split is completed.
The stock split is intended to create additional liquidity and
attract a broader range of investors.
Shareholders do not need to take any action with respect to the
stock split. Interlapse's transfer agent will send owners of common
shares a DRS advice letter in lieu of a share certificate,
which will represent the additional number of common shares to be
received as a result of the stock split.
As per TSXV policy, the stock split is being conducted on a
"push-out" basis and therefore Interlapse's CUSIP number will
remain the same. The common shares of Interlapse will trade on a
due bill basis from August 22, 2019
to August 28, 2019, being the
effective date for the share subdivision, inclusively. A due bill
is an entitlement attached to listed securities undergoing a
material corporate action, such as a stock split. In this instance,
the entitlement is to the additional common shares issuable as a
result of the stock split. Any trades that are executed on the TSXV
during this period will be flagged to ensure purchasers receive the
entitlement to the additional common shares issuable as a result of
the stock split. Interlapse's common shares will commence trading
on a split-adjusted basis on August 29,
2019, at which time, the common shares will no longer have
entitlement to additional common shares. The due bill redemption
date will be August 30, 2018.
About Interlapse Technologies Corp.
Based in
Vancouver, Canada, Interlapse is
developing the next generation of virtual currency
applications. Our coincurve.com platform, with payment and
financial infrastructure, accelerates the global mega trend of
virtual currency adoption and the transformation of money.
Interlapse is a publicly traded company on Canada's TSX Venture Exchange, trading symbol:
INLA. Interlapse has 8,732,822 shares issued (10,037,822 fully
diluted).
Neither TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy or accuracy of this
release.
Forward-Looking Information
Statements contained in this release that are not historical facts
are forward-looking statements that involve various risks and
uncertainty affecting the business of Interlapse. In making the
forward-looking statements, Interlapse has applied certain
assumptions that are based on information available, including
Interlapse's strategic plan for the near and mid-term. There can be
no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. Interlapse
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
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SOURCE Interlapse Technologies Corp.