Eve & Co Announces Share Consolidation
December 29 2020 - 5:05PM
Eve & Co. Incorporated (TSXV: EVE) (OTCQX: EEVVF) (the
“Company” or “Eve & Co”) announces that it has filed articles
of amendment to consolidate the Company’s issued and outstanding
common shares on the basis of one (1) new common share for every
ten (10) existing common shares (the “Consolidation”).
As a result of the Consolidation, the
287,867,172 common shares issued and outstanding prior to the
Consolidation have been reduced to approximately 28,786,717 common
shares (disregarding the treatment of any resulting fractional
common shares). Each shareholder’s percentage ownership in the
Company and proportional voting power remains unchanged after the
Consolidation, except for minor changes and adjustments resulting
from the treatment of any resulting fractional common shares.
The Company will not be issuing fractional
post-Consolidation common shares. Where the Consolidation would
otherwise result in a shareholder being entitled to a fractional
common share, the number of post-Consolidation common shares issued
to such shareholder shall be rounded down to the nearest whole
number of common shares.
Shareholder approval of the Consolidation was
obtained at the Company’s annual and special meeting of
shareholders held on June 25, 2020. In connection with the
Consolidation, the Company has sent letters of transmittal to
holders of its common shares for use in transmitting their existing
share certificates (“Existing Certificates”) to the Company’s
registrar and transfer agent, TSX Trust Company, in exchange for
new certificates (“New Certificates”) representing the number of
post-Consolidation common shares to which such shareholder is
entitled as a result of the Consolidation. No delivery of a New
Certificate to a shareholder will be made until the shareholder has
surrendered its Existing Certificates. Until surrendered, each
Existing Certificate shall be deemed for all purposes to represent
the number of post-Consolidation common shares to which the holder
is entitled as a result of the Consolidation. The common shares of
the Company reflecting the Consolidation will commence trading on
the TSX Venture Exchange effective as of December 31, 2020.
ABOUT EVE & CO
INCORPORATED
Eve & Co, through its wholly-owned
subsidiary NMC, holds cultivation and processing licences under the
Cannabis Act (Canada) for the production and sale of various
cannabis products, including dried cannabis, cannabis plants and
extracts and has received its European Union certificate of Good
Manufacturing Practice which allows Eve & Co to distribute its
products to the European Union. NMC was Canada’s first
female-founded licensed producer of medicinal marijuana and
received its cultivation licence from Health Canada in 2016. Eve
& Co is led by a team of agricultural experts and has a
licensed 1,000,000 square foot greenhouse located in Strathroy,
Ontario. The Company’s website can be visited at
www.evecannabis.ca.
For further information please contact:
Melinda Rombouts President and Chief Executive
Officer Eve & Co Incorporated Telephone: (855) 628-6337
Forward-Looking Statements This news release
contains certain forward-looking statements and forward-looking
information (collectively referred to herein as "forward-looking
statements") within the meaning of Canadian securities laws. All
statements other than statements of historical fact are
forward-looking statements. Undue reliance should not be placed on
forward-looking statements, which are inherently uncertain, are
based on estimates and assumptions, and are subject to known and
unknown risks and uncertainties (both general and specific) that
contribute to the possibility that the future events or
circumstances contemplated by the forward-looking statements will
not occur, including the effective date of trading of the
post-Consolidation common shares. Although the Company believes
that the expectations reflected in the forward-looking statements
contained in this press release, and the assumptions on which such
forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct.
Readers are cautioned not to place undue reliance on
forward-looking statements included in this document, as there can
be no assurance that the plans, intentions or expectations upon
which the forward-looking statements are based will occur. By their
nature, forward-looking statements involve numerous assumptions,
known and unknown risks and uncertainties that contribute to the
possibility that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause the
Company's actual performance and results in future periods to
differ materially from any estimates or projections of future
performance or results expressed or implied by such forward-looking
statements. The forward-looking statements contained in this news
release are made as of the date hereof and the Company does not
undertake any obligation to update publicly or to revise any of the
included forward-looking statements, except as required by
applicable law. The forward-looking statements contained herein are
expressly qualified by this cautionary statement.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS
REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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