Cypher Metaverse Inc. Announces Share Consolidation
Cypher Metaverse Inc. (CSE:CODE) has announced its intention to proceed with a share consolidation on a 15:1 ratio, as approved by shareholders on September 30, 2024, and confirmed by the Board of Directors on October 16, 2024. The consolidation will reduce the company's outstanding shares from 21,529,143 to 1,435,276, assuming no other changes in issued capital.
The company will also consolidate its outstanding warrants on the same 15:1 ratio, adjusting the exercise price accordingly. This move aims to provide Cypher Metaverse with increased flexibility for seeking additional financing opportunities. The consolidation is subject to approval from the Canadian Securities Exchange. The company's shares currently remain halted.
Cypher Metaverse Inc. (CSE:CODE) ha annunciato la sua intenzione di procedere con una consolidazione delle azioni nel rapporto di 15:1, come approvato dagli azionisti il 30 settembre 2024 e confermato dal Consiglio di Amministrazione il 16 ottobre 2024. La consolidazione ridurrà il numero delle azioni in circolazione dell'azienda da 21.529.143 a 1.435.276, assumendo che non ci siano altre modifiche nel capitale emesso.
L'azienda consoliderà anche i suoi warrant in circolazione nello stesso rapporto di 15:1, adeguando di conseguenza il prezzo di esercizio. Questa mossa mira a fornire a Cypher Metaverse una maggiore flessibilità nella ricerca di ulteriori opportunità di finanziamento. La consolidazione è soggetta all'approvazione della Borsa canadese. Attualmente, le azioni della società restano sospese.
Cypher Metaverse Inc. (CSE:CODE) ha anunciado su intención de proceder con una consolidación de acciones en una proporción de 15:1, tal como fue aprobado por los accionistas el 30 de septiembre de 2024 y confirmado por la Junta Directiva el 16 de octubre de 2024. La consolidación reducirá las acciones en circulación de la empresa de 21.529.143 a 1.435.276, asumiendo que no haya otros cambios en el capital emitido.
La empresa también consolidará sus warrants en circulación en la misma proporción de 15:1, ajustando en consecuencia el precio de ejercicio. Este movimiento busca proporcionar a Cypher Metaverse mayor flexibilidad para buscar oportunidades adicionales de financiamiento. La consolidación está sujeta a la aprobación de la Bolsa de Valores de Canadá. Actualmente, las acciones de la compañía siguen suspendidas.
Cypher Metaverse Inc. (CSE:CODE)는 2024년 9월 30일 주주 총회에서 승인된 15:1 비율의 주식 통합을 진행할 의사를 발표했으며, 2024년 10월 16일 이사회에서 확인되었습니다. 이 통합은 타당한 다른 주요 변화가 없을 경우 회사의 유통 주식을 21,529,143에서 1,435,276로 줄입니다.
회사는 동일한 15:1 비율로 유통 중인 보증서도 통합하여 이에 따라 행사 가격을 조정할 것입니다. 이 조치는 Cypher Metaverse에 추가 자금 조달 기회를 모색하는 데 있어 유연성을 높이기 위한 것입니다. 통합은 캐나다 증권 거래소의 승인을 받아야 합니다. 현재 회사의 주식은 거래 중단 상태입니다.
Cypher Metaverse Inc. (CSE:CODE) a annoncé son intention de procéder à une consolidation des actions au ratio de 15:1, approuvée par les actionnaires le 30 septembre 2024 et confirmée par le conseil d'administration le 16 octobre 2024. La consolidation réduira le nombre d'actions en circulation de l'entreprise de 21.529.143 à 1.435.276, à condition qu'il n'y ait pas d'autres modifications du capital émis.
L'entreprise consolidera également ses warrants en circulation à ce même ratio de 15:1, en ajustant le prix d'exercice en conséquence. Cette initiative vise à offrir à Cypher Metaverse une plus grande flexibilité pour rechercher des opportunités de financement supplémentaires. La consolidation est soumise à l'approbation de la Bourse canadienne des valeurs mobilières. Les actions de l'entreprise restent actuellement suspendues.
Cypher Metaverse Inc. (CSE:CODE) hat seine Absicht bekanntgegeben, eine Aktienkonsolidierung im Verhältnis 15:1 durchzuführen, die von den Aktionären am 30. September 2024 genehmigt und am 16. Oktober 2024 vom Vorstand bestätigt wurde. Die Konsolidierung wird die ausstehenden Aktien des Unternehmens von 21.529.143 auf 1.435.276 reduzieren, vorausgesetzt, es gibt keine weiteren Änderungen im ausgegebenen Kapital.
Das Unternehmen wird auch seine ausstehenden Warrants im gleichen Verhältnis von 15:1 konsolidieren und den Ausübungspreis entsprechend anpassen. Diese Maßnahme zielt darauf ab, Cypher Metaverse erhöhte Flexibilität bei der Suche nach zusätzlichen Finanzierungsmöglichkeiten zu bieten. Die Konsolidierung steht unter dem Vorbehalt der Genehmigung durch die Canadian Securities Exchange. Die Aktien des Unternehmens sind derzeit weiterhin ausgesetzt.
- Increased flexibility for seeking additional financing opportunities
- Shareholder approval obtained for the consolidation
- Significant reduction in the number of outstanding shares
- Shares remain halted, indicating potential ongoing issues
VANCOUVER, BC / ACCESSWIRE / October 21, 2024 / Cypher Metaverse Inc. (CSE:CODE) ("CODE" or the "Company") announces it intends to proceed with a consolidation of its common shares (each, a "Share") on the basis of fifteen (15) pre-consolidation Shares for one (1) post-consolidation Share (the "Consolidation"). The shareholders approved the consolidation at the Annual and Special Meeting held on September 30, 2024, and the Board of Directors approved and confirmed the consolidation ratio on October 16, 2024.
The Company currently has 21,529,143 Shares issued and outstanding. Accordingly, once the Consolidation is effective, the Company will have 1,435,276 Shares issued and outstanding, assuming there are no other changes in the issued capital of the Company.
The Company intends to also proceed with consolidating its outstanding warrants on a ratio of fifteen (15) to one (1), with the result that each consolidated warrant will entitle the holder to acquire one Share at an exercise price of fifteen (15) times its original exercise price. The Company does not have any outstanding options at this time.
The Consolidation is being proposed in order to provide the Company with increased flexibility to seek additional financing opportunities and is subject to the approval of the Canadian Securities Exchange. The Company will not change its name as part of the Consolidation.
The Shares of the Company remain halted.
About Cypher Metaverse Inc.
Cypher Metaverse Inc. seeks early-stage investments in emerging technology sectors. The Company identifies such opportunities and applies its relationships and capital to advance its interests.
The Company's head office is located at 1780-355 Burrard Street, Vancouver, BC, V6C 2C8. The common shares of CODE ("CODE Common Shares") are currently listed on the CSE and CODE is a reporting issuer in the provinces of British Columbia, Alberta and Ontario.
Cautionary Statement Regarding Forward-Looking Information
Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such forward-looking information can be generally identified by terms such as "may", "expect", "estimate", "anticipate", "intend", "believe", and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. The Company provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future, and readers are cautioned that such forward-looking statements may not be appropriate for other purposes. By its nature, this 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 may not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities may not be achieved. These risks and uncertainties include but are not limited to those identified and reported under the Company's disclosure documents available on its SEDAR+ profile at www.sedarplus.com.
Contact Information
For further information please contact:
Brian Keane, Director
Cypher Metaverse Inc.
Phone: Toll-Free (877) 806-CODE (2633)
E-mail: info@cypher-meta.com
www.cypher-meta.com
Neither the CSE nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE: Cypher Metaverse Inc.
View the original press release on accesswire.com
FAQ
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