ProConcept Marketing Group, Inc. Completes Name Change, Symbol Change and Reverse Stock Split
ProConcept Marketing Group (OTC PINK: PRMK) has executed a 1-for-100 reverse stock split, effective June 8, 2022. This move consolidates 355,148,803 shares into approximately 3,551,489. Following this, the stock symbol will change to PRMKD for 20 business days, then to LNTO. The company is rebranding as Lelantos Holdings, Inc., and is pursuing new projects and partnerships aimed at enhancing shareholder value. The management anticipates more transparency regarding business developments in the upcoming future.
- Completion of a 1-for-100 reverse stock split to enhance share structure.
- Reduction in shares outstanding from 355 million to 3.5 million, potentially increasing share value.
- Plans for new projects and partnerships are underway, indicating growth potential.
- The reverse stock split may lead to reduced liquidity for existing shareholders.
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LAS VEGAS, June 08, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- ProConcept Marketing Group (OTC PINK: PRMK) announces today the Company has completed a 1 for 100 reverse stock split of its outstanding common stock. Beginning Wednesday, June 8, 2022, the Company’s common stock will be trading on a post-split basis and trade under the symbol PRMKD. After 20 business days, the symbol will be changed to LNTO. The Company’s name has been changed to Lelantos Holdings, Inc.
As a result of the reverse stock split, every 100 shares of the Company’s common stock issued and outstanding was consolidated into one issued and outstanding share, except to the extent that the reverse stock split results in any of the Company’s stockholders owning a fractional share which will then be rounded up. In connection with the reverse stock split, there will be no change in the nominal par value per share of
Based on the number of shares outstanding on June 7, 2022, the reverse stock split will reduce the number of shares of the Company’s common stock outstanding from 355,148,803 pre-reverse split shares to 3,551,489 post-reverse split.
The Company has retained its transfer agent, Pacific Stock Transfer, Inc., to act as its exchange agent for the reverse stock split. As necessary, Pacific Stock Transfer, Inc., as of the Effective Time, will provide stockholders of record a letter of transmittal providing instructions for the exchange of their stock certificates. Stockholders owning shares via a broker or other nominee will have their positions automatically adjusted to reflect the reverse stock split, subject to brokers’ particular processes, and will not be required to take any action in connection with the reverse stock split.
The name change, symbol change and reverse stock split was approved by the directors of the Company on Oct. 27, 2021, pursuant to a resolution adopted by written consent of the holders of the majority of the total voting power of the Company’s securities on October 27, 2021.
Update on Corporate Activities
During the process of completing the name change, symbol change and reverse stock split, Lelantos Holdings has been actively developing a number of new projects, ventures and partnerships. The Company intends to deliver its acquisition targets, details about its new partnerships, and further information on its expansion as the Company gets closer to completing the merger and symbol change.
The decision to complete a reverse split on the Company's security was made in the best interest of its shareholders in order to provide a more attractive share structure to the investment community. The Company looks forward to disclosing its current business and financial model in place to deliver a clear understanding of the value proposition within its business, particularly its expansion into additional markets such as Arizona where the company is already securing new contracts. Management is highly confident in its ability to bring long-term shareholder value to its investors and expects to provide much further transparency into its entire operations and future plans after its merger is complete.
Joshua Weaver, vice president and chief operating officer of Lelantos Holdings, Inc. stated, “We have been working on the process of our merger, name change, reverse split and symbol change for quite some time and I am beyond excited to see it finally come to fruition. As we move forward and complete the merger we will be announcing full details of our business plan, current activities, and how we plan to deliver sustainable value to our shareholders.”
FORWARD-LOOKING INFORMATION
Certain information set forth in this press release contains "forward-looking information," including "future-oriented financial information" and "financial outlook," under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the company's business, projects and joint ventures; (iv) execution of the company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the company's projects; (vi) completion of the company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect to the future so they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance, and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. The Securities and Exchange Commission ("SEC") has provided guidance to issuers regarding the use of social media to disclose material nonpublic information. In this regard, investors and others should note that we announce material financial information on our company website, www.LelantosHoldings.io, in addition to SEC filings, press releases, public conference calls and webcasts. We also use social media to communicate with the public about our company, our services and other issues. It is possible that the information we post on social media could be deemed to be material information. Therefore, in light of the SEC's guidance, we encourage investors, the media and others interested in our company to review the information we post on the company website.
CONTACT INFORMATION
Lelantos Holdings, Inc.
Josh@lelantosholdings.io
Corporate Communications
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
FAQ
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