New Leaf Ventures Announces Consolidation

Rhea-AI Summary

New Leaf Ventures Inc. (CSE: NLV, OTC: NLVVF) announced a consolidation of its share capital, converting every five old shares into one new share. This will reduce the total issued shares from 62,770,115 to approximately 12,554,023. The Board believes this move is essential for raising additional capital and pursuing new business opportunities. The consolidation is subject to review by the Canadian Securities Exchange, but does not require shareholder approval.

Positive

• Consolidation aimed at facilitating additional capital raise.
• Potential for pursuing new business opportunities.

Negative

• Consolidation could signal previous difficulties in raising capital.

VANCOUVER, British Columbia, Sept. 07, 2022 (GLOBE NEWSWIRE) -- New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF) (“New Leaf,” “NLV” or the “Company”), announces that the Company's Board of Directors has determined to consolidate the Company’s issued share capital on a ratio of one (1) new post-consolidated common share for every five (5) old pre-consolidated common shares (the "Consolidation"). The Company currently has 62,770,115 issued and outstanding common shares and on completion of the Consolidation there is expected to be 12,554,023 issued and outstanding common shares. The Company’s name and trading symbol will remain the same. Shareholder approval of the Consolidation is neither required under the policies of the Canadian Securities Exchange (the “CSE”) nor under the Articles of the Company.

The Board of Directors determined the Consolidation is necessary in order for the Company to raise additional capital and seek new business opportunities.

The Consolidation is subject to CSE review and approval.

About New Leaf Ventures Inc. (CSE: NLV) (OTC: NLVVF)
New Leaf Ventures Inc. is developing a cannabis sector-based scalable concept of focused financing and applied management to achieve earnings growth through targeted investment. The Company’s flagship enterprise is New Leaf USA and its subsidiaries, which provide licenses, real property, intellectual property and equipment for lease, certain administrative services and other ancillary services to a Washington-based Tier 3 Processor focused on processing, packaging, and distributing cannabis and cannabis related products Find out more at: https://newleafventuresinc.com/. For consumer interest visit: https://www.damawashington.com/ and https://damalife.com/.

For further information, please contact:
New Leaf Ventures Inc.
Investor Relations
Tel: +1 (778) 930-1321
Email: investors@newleafventuresinc.com 

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the Company’s intention to reduce expenses, improve margin and improve productivity, are forward-looking statements. These forward-looking statements reflect the expectations and beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The CSE does not accept responsibility for the adequacy or accuracy of this release.

FAQ

What is New Leaf Ventures Inc.'s recent share consolidation?

New Leaf Ventures has announced a share consolidation at a ratio of one new share for every five old shares, reducing its total shares from approximately 62.77 million to 12.55 million.

Why is New Leaf Ventures Inc. consolidating its shares?

The consolidation is intended to enable the company to raise additional capital and explore new business opportunities.

What is the new share count for New Leaf Ventures Inc. after the consolidation?

After the consolidation, New Leaf Ventures is expected to have approximately 12,554,023 issued and outstanding common shares.

Is shareholder approval required for New Leaf Ventures Inc.'s share consolidation?

No, shareholder approval is not required under the policies of the Canadian Securities Exchange or the Company's Articles.

What does the share consolidation mean for New Leaf Ventures Inc.'s investors?

The share consolidation may impact the stock's price per share and is often done to strengthen the company’s capital structure.