CALGARY, AB, Jan. 24, 2024 /CNW/ - CE Brands Inc. (TSXV: CEBI) ("CE Brands" or the "Company") announces the consolidation of its common shares on the basis of one (1) post-consolidation common share for every ten (10) pre-consolidation shares issued and outstanding as of the close of business on January 24, 2023 . The shares are expected to begin trading on a consolidated basis on the TSX Venture Exchange on Friday, January 26, 2024 . The share consolidation was approved by the Company's shareholders at the annual and special meeting held on December 4, 2024 .
The Corporation shareholders will receive one (1) post-consolidation common share for every ten (10) pre-consolidation shares held by them. No fractional shares will be issued as a result of the consolidation. Fractional interests will be rounded to the nearest whole number of shares without any consideration payable therefor.
The new ISIN number for the post-consolidation shares is CA12513R3036. CE Brands' common shares will continue to trade under the symbol "CEBI" and CE Brands' name will not change.
A letter of transmittal will be sent to registered shareholders. Shareholders who hold their shares in brokerage accounts are not required to take any action to effect an exchange of their common shares.
About the CompanyThe Company develops products with leading manufacturers and iconic brand licensors by utilizing proprietary data that identifies key market opportunities.
Neither the TSX Venture Exchange nor its regulation services provider (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
For further information, please visit the website at www.cebrands.co
Forward-looking InformationThis press release may contain forward-looking information within the meaning of securities legislation, concerning the Company's business and affairs. In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" or "does not expect", "intends", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", or "be achieved".
Statement of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. this press release includes forward-looking information with respect to CE Brands' plans to mail the transmittal letter and the expected date that the shares will begin trading on a consolidated basis. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking information is provided as of the date of this press release, and the Company assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.
SOURCE CE Brands Inc.
For further information: Kalvie Legat, Interim Chief Executive Officer, 403-560-9635, [email protected]
