Thoughtful Brands Announces 10:1 Share Consolidation
Thoughtful Brands, Inc. (CSE:TBI, FWB:1WZ1, OTCQB:PEMTF) announced a 10-for-1 share consolidation on April 12, 2021, reducing its outstanding shares from approximately 389 million to about 39 million post-consolidation. This move aims to streamline capital structure, with no fractional shares issued. The consolidation doesn't require shareholder approval and is subject to the acceptance of the Canadian Securities Exchange. Thoughtful Brands focuses on eCommerce technology for natural health products across North America and Europe.
- Streamlines capital structure with a 10-for-1 share consolidation.
- Reduces total outstanding shares from approximately 389 million to 39 million.
- None.
VANCOUVER, BC / ACCESSWIRE / April 12, 2021 / Thoughtful Brands, Inc. (CSE:TBI)(FWB:1WZ1)(OTCQB:PEMTF) (the "Company" or "Thoughtful Brands"), an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe, announces that it intends to consolidate its issued and outstanding common shares ("Shares") at a ratio of ten (10) pre-consolidated Shares to one (1) post-consolidation Share (the "Consolidation").
The Company currently has 389,274,701 Shares issued and outstanding. Following the Consolidation there will be approximately 38,927,470 Shares issued and outstanding. No fractional Shares will be issued and any fractions of a Share will be rounded down to the nearest whole number of Shares. The exercise or conversion price and the number of Shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted upon Consolidation.
In accordance with the Company's Articles, the Consolidation will not require the approval of the shareholders.
The Consolidation is subject to the acceptance of the Canadian Securities Exchange.
About Thoughtful Brands Inc.
Thoughtful Brands Inc. is an eCommerce technology company that researches, develops, markets and distributes natural health products through various brands in North America and Europe.
ON BEHALF OF THE BOARD OF DIRECTORS
Thoughtful Brands Inc.
Ryan Hoggan
For further information readers are encouraged to contact Joel Shacker, President at +1604-423-4733.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to the Company within the meaning of applicable securities laws, including with respect to its plans to consolidate its issued and outstanding common shares at a ratio of ten (10) pre-consolidated shares to one (1) post-consolidation share. 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 statements may not be appropriate for other purposes. By its nature, this 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. These risks and uncertainties include but are not limited those identified and reported in the Company's public filings under the Company's SEDAR profile at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.
SOURCE: Thoughtful Brands Inc.
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FAQ
What is the significance of the share consolidation by Thoughtful Brands (PEMTF)?
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