CounterPath Amends Articles of Incorporation

Rhea-AI Summary

CounterPath Corporation (NASDAQ:CPAH) has amended its articles of incorporation to increase the number of authorized shares of its common stock from 10 million to 50 million. This change raises the total number of shares of all classes to 150 million, which includes 100 million shares of preferred stock. The amendment aims to enhance the company's flexibility in financing and capital opportunities.

CounterPath provides Unified Communications and Collaboration solutions, serving various industries globally.

Positive

• Increased authorized shares from 10 million to 50 million allows for more flexibility in capital financing.
• Total authorized shares now stand at 150 million, including preferred stock, which may attract investors.

Negative

• Increasing authorized shares may lead to potential shareholder dilution if new shares are issued.

VANCOUVER, BC / ACCESSWIRE / October 16, 2020 / CounterPath Corporation ("CounterPath" or the "Company") (NASDAQ:CPAH)(TSX:PATH), a global provider of award-winning Unified Communications and Collaboration (UCC) solutions for enterprises and service providers, today announced that it has amended its articles of incorporation to increase the number of authorized shares of its common stock from 10,000,000 to 50,000,000, by filing a certificate of amendment to articles of incorporation with the Secretary of State of the State of Nevada.

As a result, the total number of shares of all classes of stock which the Company has authority to issue is 150,000,000 shares, consisting of 50,000,000 shares of common stock having a par value of US$0.001 per share and 100,000,000 shares of preferred stock having a par value of US$0.001 per share, and to be issued in such series and to have such rights, preferences, and designation as determined by the board of directors of the Company.

About CounterPath
CounterPath Corporation (NASDAQ:CPAH) is revolutionizing how people communicate in today's modern mobile workforce. Its award-winning Bria solutions for desktop and mobile devices enable organizations to leverage their existing PBX and hosted voice call servers to extend seamless and secure unified communications and collaboration services to users regardless of their location and network. CounterPath technology meets the unique requirements of several industries, including the contact center, retail, warehouse, hospitality, and healthcare verticals. Its solutions are deployed worldwide by 8x8, Airbnb, AmeriSave, Aspect, BT, Citibank, Comcast, Fusion, Fuze, Honeywell, Liberty Global, Windstream and others. Learn more at counterpath.com and follow us on Twitter @counterpath.

CONTACT:
David Karp
Chief Executive Officer
dkarp@counterpath.com

SOURCE: CounterPath Corporation

View source version on accesswire.com:
https://www.accesswire.com/610750/CounterPath-Amends-Articles-of-Incorporation

FAQ

What is the recent development regarding CounterPath Corporation's shares?

CounterPath Corporation has amended its articles of incorporation to increase its authorized shares from 10 million to 50 million.

How many total shares can CounterPath Corporation issue now?

After the amendment, CounterPath Corporation can issue a total of 150 million shares, consisting of 50 million common and 100 million preferred shares.

What stock exchange is CounterPath Corporation listed on?

CounterPath Corporation is listed on NASDAQ under the ticker symbol CPAH.

What are the implications of increasing authorized shares for shareholders?

Increasing authorized shares may lead to potential dilution for existing shareholders if new shares are issued.