Vortex Brands Announces 25-for-1 Forward Stock Split
Vortex Brands Co. (OTC: VTXB) has announced a 25-for-1 forward stock split effective for shareholders on record as of February 28, 2022. The split aims to enhance the company's capital structure and attract a broader investor base, while the market value of outstanding shares will remain unchanged. The company is finalizing its filing with FINRA, which is required 10 days before the record date. Vortex operates in the cryptocurrency sector, focusing on Bitcoin mining, but warns that revenue projections are subject to various business risks.
- The 25-for-1 stock split could attract more investors, enhancing liquidity.
- The company remains focused on the growing cryptocurrency sector, specifically Bitcoin mining.
- Revenue projections are uncertain and depend on external factors like power pricing and equipment availability.
- Potential business challenges could hinder the company's ability to achieve its financial goals.
DENVER, Jan. 7, 2022 /PRNewswire/ -- Vortex Brands Co. (OTC: VTXB) is announcing its plans to execute a forward share split on the basis of twenty-five (25) new common shares for each one (1) old common share (the "Stock Split"). All shareholders of record as at the record date of February 28, 2022 will be entitled to the Stock Split. The total market value of the shares outstanding will not be affected because of this forward split. The Forward Split is being conducted on a "push-out" basis and therefore Vortex's CUSIP number and trading symbol will remain the same. The primary reason for the Stock Split is to make Vortex's capital structure more attractive to a wider range of investors. We are currently finalizing the filing for FINRA and are required to file with FINRA 10 days prior to record date.
About Vortex Brands Co.: The Company operates as Technology Holdings Company that focuses on cryptocurrency sector, particularly Bitcoin Mining. Additional information is available by visiting company's website at www.vortexbrands.us or on twitter at https://twitter.com/Vortexbrands.
*Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as power pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs. You can view update information on Bitcoin Mining by visiting https://novablock.com/calculator.
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
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SOURCE Vortex Brands Co.
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