LiteLink Technologies to Proceed with Share Consolidation
LiteLink Technologies Inc. announced a share consolidation effective February 1, 2021, at a ratio of 2.5 to 1, reducing the total shares outstanding from 178,421,776 to approximately 71,368,710. Trading on a post-consolidation basis will begin on February 2, 2021, under the existing ticker symbol LLT and new CUSIP 53677L203. Fractional shares will not be issued, and registered shareholders will receive instructions from Odyssey Trust Company for exchanging their existing certificates.
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VANCOUVER, BC, Feb. 1, 2021 /PRNewswire/ - LiteLink Technologies Inc. (the "Company") (CSE: LLT) (OTC: LLNKF) (FRA: C0B:FF) announces that effective at the close of business on February 1, 2021 it will consolidate its common share capital on a two-and-one-half basis (the "Consolidation").
Effective at the opening of markets on February 2, 2021, the common shares of the Company will commence trading on a post-Consolidation basis under the existing ticker symbol "LLT" and the new CUSIP: 53677L203. There are currently 178,421,776 common shares of the Company outstanding and following completion of the Consolidation the Company will have approximately 71,368,710 shares outstanding.
No fractional shares will be issued in connection with the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. Registered holders of common shares of the Company will receive a letter of transmittal from Odyssey Trust Company with instructions on how to exchange existing share certificates for new post-Consolidation share certificates.
On behalf of the board,
Peter Green
Chief Executive Officer
pgreen@litelinktech.com
About LiteLink
LiteLink Technologies Inc. (CSE: LLT.CN) (OTC: LLNKF) (FRA: C0B:FF) a company focused on emerging technologies across growth sectors including: crypto, blockchain, AI, cloud technologies, and gaming. Led by senior leaders and industry experts, LiteLink invests in and provides subject matter experts within portfolio companies to accelerate success and maximize value for shareholders.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and similar words or expressions identify forward-looking statements or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
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SOURCE LiteLink Technologies Inc.
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