Glink Arts Global Group, Inc. (formerly Sports Pouch Beverage Company, Inc.) Submits Corporate Action Notice with FINRA for Recapitalization and Trading Symbol Change

Rhea-AI Summary

Glink Arts Global Group, Inc. (formerly SPBV) has submitted a Corporate Action Notice to FINRA for recapitalization and a trading symbol change. This follows a Corporate Combination Agreement with Glink Apps, where GLINK shareholders will exchange their shares for new SPBV common stock after a 500-for-1 reverse stock split. The Declaration Date is December 2, 2021, with the Record Date set for December 21, 2021. The company aims to enhance shareholder value following this restructuring, as stated by Chairman and CEO David Chinh Truong.

Positive

• Company undergoing recapitalization and symbol change to attract more investors.
• Potential for enhanced shareholder value through the planned Corporate Combination Agreement.

Negative

• 500-for-1 reverse stock split may dilute existing shareholders' equity.

New York, Dec. 16, 2021 (GLOBE NEWSWIRE) -- Glink Arts Global Group, Inc., (formerly Sports Pouch Beverage Company, Inc.), a Nevada corporation, (Other OTC: SPBV) today announced that the Company has submitted a new Corporate Action Notice with the Financial Industry Regulatory Authority (FINRA) for recapitalization and trading symbol change.

According to the Corporate Combination Agreement dated March 19, 2021 between SPBV and Glink Apps International, Inc. (“GLINK”), a Wyoming corporation, Glink Apps shareholders will exchange all of the issued and outstanding shares of GLINK for shares of new SPBV common stock following a 500-for-1 reverse stock split of the current SPBV common shares. As part of the Corporate Combination Agreement, SPBV has changed its corporate name to “Glink Arts Global Group, Inc.” and has submitted an updated Corporate Action Notice with FINRA for the approval to effectuate the afore-mentioned reverse split and obtain a new trading symbol.

The new Declaration Date for the referenced reverse stock split was set for December 02, 2021 and the new Record Date is set for December 21, 2021. The new Effective Date of the referenced reverse stock split and the new Payment Date will be confirmed upon the approval of the Financial Industry Regulatory Authority (FINRA). On the Effective Date, every five hundred (500) shares of this Corporation’s outstanding Common Stock, par value $0.0001 per share (the "Common Stock), issued and outstanding immediately prior to the Effective Date (the “Old Common Stock”) shall automatically and without action on the part of the record holder thereof be reclassified as and changed into one (1) share of this Corporation’s Common Stock (the “New Common Stock”), subject to the treatment of fractional share interests such that a record holder of the Old Common Stock shall receive, in lieu of any fraction of a share of the New Common Stock to which the record holder would otherwise be entitled, one full share, with no shareholder being reversed below a minimum of 100 shares of New Common Stock. Each record holder of a certificate or certificates which immediately prior to the Effective Date represented outstanding shares of Old Common Stock (the “Old Certificates”, whether one or more) shall be entitled to receive, upon surrender of such Old Certificates to the Company’s transfer agent Pacific Stock Transfer Company who will act as the escrow agent for cancellation, a certificate or certificates (the “New Certificates”, whether one or more), or in book entry form with the Company’s transfer agent, representing the number of whole shares of the New Common Stock into which and for which the shares of the Old Common Stock formerly represented by such Old Certificates so surrendered, are reclassified under the terms hereof. From and after the Effective Date, Old Certificates shall represent only the right to receive New Certificates pursuant to the provisions hereof.

David Chinh Truong, Chairman and CEO of SPBV, stated: “We look forward to receiving the approval from FINRA to complete the recapitalization and symbol change and intend to utilize the combined company as a platform to bring it to the next level and create significant benefits for our shareholders in the long term.”

About Glink Apps International

Glink Apps International, Inc. a Wyoming company, creates, sells, and distributes high quality art paintings. We provide a system to connect customers with service providers who deliver specific services. Our products and services also include coffee, water filters as well as Apps that provide services for entertainment, organizing music concerts, modeling events, entertainment competitions, songwriting, artwork, painters, actors and actresses, etc. Website: https://glinkglobal.com.

Safe Harbor Act and Forward-looking Statements

This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.

Contact:
Glink Arts Global Group, Inc. (formerly Sports Pouch Beverage Co., Inc.)
Steve Truong, VP
714-702-3200
glinkartsglobal@gmail.com

FAQ

What is the recent Corporate Action Notice submitted by SPBV?

SPBV has submitted a Corporate Action Notice for recapitalization and a trading symbol change.

What does the Corporate Combination Agreement entail for SPBV?

GLINK shareholders will exchange their shares for new SPBV common stock after a 500-for-1 reverse stock split.

What are the key dates related to the SPBV stock split?

The Declaration Date is December 2, 2021, and the Record Date is December 21, 2021.

How will the reverse stock split impact SPBV shareholders?

The 500-for-1 reverse stock split could dilute existing shareholders' equity.

What are the future plans for Glink Arts Global Group?

The company aims to bring enhanced value to shareholders through its new structure and combined operations.