VANCOUVER, BC, June 14,
2022 /CNW/ - Verisante Technology Inc. (the
"Corporation") (NEX: VRS.H) announces that the
Corporation will undertake a consolidation ("Consolidation") of its
outstanding common shares on the basis of one (1)
post-Consolidation Share for every ten (10) pre-Consolidation
shares. The Consolidation has been approved by the directors of the
Corporation, in accordance with the Articles of the
Corporation.
On or about June 20, 2022,
the common shares of the Corporation will commence trading on a
post-Consolidation basis under the new ticker symbol VER.H on the
NEX board of the TSX-V Exchange. As of the date of this news
release, the Corporation has 98,615,888 common shares issued and
outstanding. Following completion of the Consolidation, the
Corporation is expected to have approximately 9,861,588 common
shares issued and outstanding. The 15,3354,182 common shares
issuable upon TSX-V Exchange acceptance of the Corporation's
proposed shares for debt and private placement announced on
June 6, 2022, will also be
proportionally adjusted upon completion of the Consolidation. The
Corporation has no preferred shares, warrants or options
outstanding.
A letter of transmittal will be mailed to registered
shareholders once the Consolidation has taken effect. The letter of
transmittal contains instructions on how registered shareholders
can exchange their share certificates evidencing their
pre-Consolidation shares for new share certificates representing
the number of post-Consolidation shares to which they are
entitled.
Beneficial shareholders holding their shares through a brokerage
may be subject to different procedures for obtaining their
post-Consolidation shares. If shareholders have any questions in
this regard, they are encouraged to contact their respective
brokerage or intermediary.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward Looking Statements:
This release contains
forward-looking statements all of which statements are subject to
market risks, and the possibility that the Corporation will not be
able to achieve all of its stated goals. These statements are made
based upon current expectations and actual results may differ from
those projected due to a number of risks and uncertainties.
SOURCE Verisante Technology, Inc.
