ATMOFIZER TECHNOLOGIES INC. EFFECTIVE DATE FOR SHARE CONSOLIDATION
Atmofizer Technologies Inc. announced that its common shares will undergo a consolidation, effective January 12, 2023. The consolidation will result in one post-consolidated share for every twenty pre-consolidated shares, totaling approximately 6,687,390 shares outstanding. Shareholders will receive instructions on exchanging their shares via a letter from Odyssey Trust Company. Atmofizer focuses on air purification technology that neutralizes ultrafine particles and aims to enhance air quality and efficiency in various applications.
- Consolidation aims to improve share price stability.
- Atmofizer's unique technology targets dangerous nano-scale particles, enhancing air purification efficiency.
- Consolidation may dilute the perceived value of existing shares.
- The company's reliance on a limited operating history poses risks.
VANCOUVER, BC, Jan. 9, 2023 /PRNewswire/ - Atmofizer Technologies Inc. (the "Company" or "Atmofizer") (CSE: ATMO) (Frankfurt: J3K) (OTCQB: ATMFF) further to its news release of January 3, 2023, effective at the opening of trading on January 12, 2023 (the "Effective Date") the common shares of the Company (the "Common Shares") will commence trading on the Canadian Securities Exchange on a consolidated basis, with one (1) post-consolidated Common Share outstanding for every twenty (20) pre-consolidated Common Shares (the "Consolidation").
As a result of the Consolidation, on the Effective Date, a total of approximately 6,687,390 Common Shares will be issued and outstanding, subject to adjustments for rounding, with approximately 489,207 Common Shares reserved for issuance. No fractional Common Shares will be issued, and any post-Consolidation fraction of a Common Share will be rounded to the nearest whole number of Common Shares. The name of the Company has not been changed, and the trading symbol remains as "ATMO". A new CUSIP number has been issued for the post-Consolidation Common Shares, being 04952E208.
The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding convertible instruments will be proportionately adjusted upon the effectiveness of the Consolidation.
Shareholders of record as of the Effective Date who hold Common Shares represented by a physical certificate or DRS statement will receive a letter of transmittal from the transfer agent for the Company, Odyssey Trust Company, with instructions on how to exchange their existing certificates or DRS statements for certificates or DRS statements representing Common Shares on a post-Consolidation basis.
About Atmofizer Technologies Inc.
Atmofizer's consumer and industrial solutions are based on its patent-protected and patent pending technology for ultrafine particle agglomeration and neutralization. This capability creates a revolutionary and more efficient method for addressing the wide range of dangerous nano-scale particles, viruses and bacteria that are too small to be effectively managed by conventional HEPA filters and ultraviolet lights. Atmofizer plans to disrupt the air treatment industry by improving air safety and purification efficiency while lowering customers' operational costs.
Atmofizing air refers to the process of using ultrasonic acoustic waves to agglomerate (cluster together) small particles into a larger target that is then radiated by ultraviolet light to neutralize their harmful properties, making the air you breath less hazardous to your health. Using units that atmofize air in tandem with high efficiency particulate air ("HEPA") filters can make the HEPA filters work more efficiently, enable the use of a less-powerful filter and result in a cleaner and longer-lasting filter that reduces operating costs and is less of a health hazard to clean or replace.
Atmofizer is patent-pending and patent-protected sole source of technology to atmofize air and is applying its proprietary technology in consumer and industrial air purification products currently manufactured under the Atmofizer brand, as well as in retail and commercial devices produced by other companies that integrate Atmofizer technology into their own products under license. Atmofizer's owned and licensed product lines include wearable, portable and mobile use for personal air treatment, as well as larger systems to handle higher air volumes for commercial, industrial, institutional and residential applications.
Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable securities laws. All statements contained herein that are not clearly historical in nature may constitute forward-looking information. In some cases, forward-looking information can be identified by words or phrases such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential", "proposed", "estimate", "believe" or the negative of these terms, or other similar words, expressions and grammatical variations thereof, or statements that certain events or conditions "may" or "will" happen, or by discussions of strategy. The forward-looking information contained herein includes, without limitation, the completion of the Consolidation as currently contemplated and the business and strategic plans of the Company.
By their nature, forward-looking information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking information in this press release including, without limitation: the Company's ability to comply with all applicable laws and governmental regulations relating to its commercial products; the ability of the Company to protect its intellectual property; impacts to the business and operations of the Company due to the COVID-19 pandemic; the conflict in eastern Europe; having only a limited operating history, the ability of the Company to access capital to meet future financing needs; the Company's reliance on management and key personnel; competition; changes in consumer trends; foreign currency fluctuations; and general economic, market or business conditions.
Additional risk factors can also be found in the Company's continuous disclosure documents, which have been filed on SEDAR and can be accessed at www.sedar.com. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking information. The forward-looking information contained herein is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking information is made. The Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
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SOURCE Atmofizer Technologies Inc.
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