Not for distribution to United States newswire services or for dissemination in the United States.
LOS ANGELES, Feb. 25, 2019 (GLOBE NEWSWIRE) -- Ventura Cannabis and Wellness Corp. ("VCAN" or the "Company") (CSE: VCAN) is pleased to announce that it is proceeding with the previously announced share consolidation of its issued and outstanding shares on the basis of 1 post-consolidation share for 7.34 pre-consolidation shares held (the “Consolidation”).
Upon completion of the Consolidation, there will be approximately 34,068,885 shares issued and outstanding. The record date for the Consolidation is March 1, 2019.
A letter of transmittal will be mailed to registered shareholders on March 1, 2019, providing instructions to surrender the certificates evidencing their Common Shares for replacement certificates representing the number of Common Shares to which they are entitled as a result of the Consolidation. Until surrendered, each certificate representing Common Share prior to the Consolidation will be deemed for all purposes to represent the number of Common Shares to which the holder thereof is entitled as a result of the Consolidation.
Outstanding stock options and share purchase warrants will also be adjusted by the Consolidation ratio and the respective exercise prices of outstanding options and share purchase warrants will be adjusted accordingly.
The shares will begin trading on a consolidated basis and under the new CUSIP number 923010201 on February 28, 2019.
Please note that all open orders will be canceled at the end of business on February 27, 2019. Dealers are reminded to re-enter their orders taking into account the Consolidation.
Conference Call
Management invites you to attend a conference call on Thursday, February 28th, 2019 at 4:30 p.m (EST) to discuss the Company's recent activities, vision for the future and the opportunities the Company intends to pursue in the cannabis industry. Participants can dial into the conference call using the following numbers:
US & Canada Toll Free: 888-220-8451
Meeting ID Number: 1768182
A presentation respecting the matters to be discussed on the conference call will be posted on the Company’s web page at www.venturacanna.com. The conference call will be available for playback on the Company’s website.
On behalf of Ventura Cannabis and Wellness Corp.
Jacob Gamble
Chief Executive Officer and Executive Director
For more information contact:
Ventura Cannabis and Wellness Corp.
Jacob Gamble
CEO and Executive Director
(360) 314-4294
investor@venturacanna.com
www.venturacanna.com
Forward-Looking Statements
Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the Company, Such statements reflect the Company's current views and intentions with respect to future events, and current information available to the Company, and are subject to certain risks, uncertainties and assumptions. The forward-looking information included in this press release is made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law. All figures are in Canadian dollars unless otherwise indicated.