SBD Capital Corp. Announces Consolidation and Proposed Debt Settlement
SBD Capital Corp. (CSE: SBD) has announced a significant share consolidation and debt settlement initiative. The company will implement a 10:1 share consolidation, reducing outstanding common shares from 7,890,166 to approximately 789,016. Trading on the consolidated basis is expected to begin around March 13, 2025, under the existing symbol 'SBD'.
Additionally, the company plans to settle $418,571.82 of debt through the issuance of 1,550,266 common shares at $0.27 per share. This includes settling $116,942.94 with insider Chris Irwin through 427,121 shares. The debt settlement shares will be subject to a four-month hold period and require final CSE approval.
SBD Capital Corp. (CSE: SBD) ha annunciato un'importante iniziativa di consolidamento delle azioni e di risoluzione del debito. L'azienda attuerà un consolidamento delle azioni 10:1, riducendo le azioni ordinarie in circolazione da 7.890.166 a circa 789.016. Le negoziazioni sulla base consolidata dovrebbero iniziare intorno al 13 marzo 2025, sotto il simbolo esistente 'SBD'.
Inoltre, l'azienda prevede di risolvere $418.571,82 di debito attraverso l'emissione di 1.550.266 azioni ordinarie a $0,27 per azione. Questo include la risoluzione di $116.942,94 con l'insider Chris Irwin tramite 427.121 azioni. Le azioni per la risoluzione del debito saranno soggette a un periodo di blocco di quattro mesi e richiederanno l'approvazione finale della CSE.
SBD Capital Corp. (CSE: SBD) ha anunciado una importante iniciativa de consolidación de acciones y liquidación de deudas. La compañía implementará una consolidación de acciones de 10:1, reduciendo las acciones ordinarias en circulación de 7,890,166 a aproximadamente 789,016. Se espera que la negociación en base consolidada comience alrededor del 13 de marzo de 2025, bajo el símbolo existente 'SBD'.
Además, la compañía planea liquidar $418,571.82 de deuda mediante la emisión de 1,550,266 acciones ordinarias a $0.27 por acción. Esto incluye la liquidación de $116,942.94 con el insider Chris Irwin a través de 427,121 acciones. Las acciones de liquidación de deuda estarán sujetas a un período de retención de cuatro meses y requerirán la aprobación final de la CSE.
SBD Capital Corp. (CSE: SBD)는 중요한 주식 통합 및 부채 해결 계획을 발표했습니다. 회사는 10:1 비율로 주식을 통합하여 유통 주식 수를 7,890,166주에서 약 789,016주로 줄일 것입니다. 통합된 기준으로 거래는 2025년 3월 13일경에 시작될 것으로 예상되며, 기존 기호 'SBD'로 진행됩니다.
추가로, 회사는 $418,571.82의 부채를 주당 $0.27로 1,550,266주를 발행하여 해결할 계획입니다. 여기에는 내부자 크리스 어윈과의 427,121주를 통해 $116,942.94를 해결하는 것이 포함됩니다. 부채 해결 주식은 4개월의 보유 기간이 적용되며, 최종 CSE 승인이 필요합니다.
SBD Capital Corp. (CSE: SBD) a annoncé une initiative significative de consolidation des actions et de règlement de dettes. La société mettra en œuvre une consolidation des actions de 10:1, réduisant le nombre d'actions ordinaires en circulation de 7 890 166 à environ 789 016. Les échanges sur la base consolidée devraient commencer autour du 13 mars 2025, sous le symbole existant 'SBD'.
De plus, la société prévoit de régler $418 571,82 de dettes par l'émission de 1 550 266 actions ordinaires à 0,27 $ par action. Cela inclut le règlement de 116 942,94 $ avec l'insider Chris Irwin par le biais de 427 121 actions. Les actions de règlement de dettes seront soumises à une période de blocage de quatre mois et nécessiteront l'approbation finale de la CSE.
SBD Capital Corp. (CSE: SBD) hat eine bedeutende Initiative zur Konsolidierung von Aktien und zur Schuldenregelung angekündigt. Das Unternehmen wird eine 10:1 Aktienkonsolidierung durchführen, wodurch die ausstehenden Stammaktien von 7.890.166 auf etwa 789.016 reduziert werden. Der Handel auf konsolidierter Basis wird voraussichtlich um den 13. März 2025 unter dem bestehenden Symbol 'SBD' beginnen.
Darüber hinaus plant das Unternehmen, $418.571,82 Schulden durch die Ausgabe von 1.550.266 Stammaktien zu einem Preis von 0,27 $ pro Aktie zu begleichen. Dies umfasst die Begleichung von $116.942,94 mit dem Insider Chris Irwin durch 427.121 Aktien. Die Schuldenregelungsaktien unterliegen einer viermonatigen Haltedauer und erfordern die endgültige Genehmigung der CSE.
- Debt reduction of $418,571.82 through share issuance
- Working towards settling outstanding trade payables
- Received minority shareholder approval for debt settlement
- Share dilution through issuance of 1,550,266 new shares
- Working capital deficiency exists
- Significant share consolidation may impact trading liquidity
Toronto, Ontario--(Newsfile Corp. - March 7, 2025) - SBD Capital Corp. (CSE: SBD) (the "Company") announces that, further to its press release of January 13, 2025, the Company's board of directors has approved, and the Company will be effecting, a share consolidation of its issued and outstanding common shares ("Common Shares") on a one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (the "Consolidation").
In relation to the Consolidation, the Company has obtained a new CUSIP (78412Y301) and ISIN (CA78412Y3014). There is no name change or stock symbol change in connection with the Consolidation.
The Consolidation is subject to the approval of the Canadian Securities Exchange (the "CSE"). The Company's common shares are expected to commence trading on the CSE on a consolidated basis on or about market open on March 13, 2025, under the Company's existing symbol "SBD".
The Consolidation will reduce the number of outstanding Common Shares from 7,890,166 to approximately 789,016. The exercise or conversion price and the number of Common Shares issuable under any of the Company's outstanding stock options will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof. No fractional Common Shares will be issued pursuant to the Consolidation and any fractional shares that would have otherwise been issued will be converted into whole Common Shares without par value of the Company, such that fractional Common Shares will be rounded down to the nearest whole number.
Letters of transmittal with respect to the Consolidation will be mailed to registered shareholders of the Company. All registered shareholders with physical certificates will be required to send their respective share certificates representing pre-Consolidation Common Shares, along with a properly executed letter of transmittal, to the Company's registrar and transfer agent, TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their Common Shares through a broker, investment dealer, bank or trust company or other intermediary should contact that nominee or intermediary for assistance in depositing their Common Shares in connection with the Consolidation.
In addition, the Company is pleased to announce that it intends to settle an aggregate of
The Debt Settlement is considered a "related party transactions" as defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions ("MI 61-101"), as Chris Irwin, an insider of the Company, will receive 427,121 Common Shares to settle an aggregate of
In connection with the Debt Settlement, Mr. Irwin has agreed to distribute Common Shares to certain third parties in order for the Company to have the requisite number of Board Lots (as that term is defined in the policies of the CSE) to meet the CSE's continued listing requirements. The Common Shares to be issued pursuant to the Debt Settlement shall be subject to a four-month hold period and completion of the Debt Settlement remains subject to final acceptance of the Canadian Securities Exchange.
The Debt Settlement was approved by the members of the board of directors of the Company who are independent for the purposes of the Debt Settlement, being all directors other than Mr. Chris Irwin. No special committee was established in connection with the Debt Settlement, and no materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.
For further information, please contact:
SBD Capital Corp.
Carly Burk
Secretary
Tel: (416) 361-2515
Email: cburk@irwinlowy.com
Forward-Looking Information
This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243792
FAQ
What is the share consolidation ratio announced by SBD Capital Corp (SBDCF)?
When will SBD Capital's consolidated shares begin trading on the CSE?
How much debt is SBD Capital settling through share issuance?
What is the new total number of outstanding shares after SBD's consolidation?
