Viridis Energy Announces Plans for Share Consolidation
2014年5月24日 - 2:30AM
Access Wire
Vancouver, BC / ACCESSWIRE / May 23, 2014 -
Viridis Energy Inc. ("Viridis" or the "Company") (TSXV: VRD) (OTC:
VRDSF), today announced that management is proposing to consolidate
the Company's issued and outstanding shares to provide greater
flexibility in structuring acquisitions and financings that may be
completed in the future. Additionally, management believes it will
be beneficial to the current shareholders if the number of
outstanding common shares is reduced because the higher share price
resulting from the reverse split could increase the trading volume
and provide greater liquidity.
At the Company's Annual General and Special Meeting (the
"Meeting") to be held on June 3, 2014, the shareholders will be
asked to pass an ordinary resolution that will authorize the board
of directors to consolidate all of the issued and outstanding
common shares on the basis of not more than ten (10)
pre-consolidation common shares being consolidated into one (1) new
post-consolidation common share, with all resulting fractional
shares being rounded down to the nearest whole number. The ordinary
resolution would also permit the board, without further approval by
the shareholders, to select the final consolidation ratio and
proceed with the consolidation at any time following the Meeting.
Even if the shareholders pass the resolution, the board may choose
not to proceed with the share consolidation if they, in their
discretion, decide that it is no longer desirable to do so. The
Company's name will not be changed in conjunction with the share
consolidation.
As of the record date of the Meeting, the Company had
outstanding 138,451,883 common shares. If the outstanding common
shares are consolidated on the basis of ten old shares being
consolidated into one new share, the number of issued common shares
will be reduced to 13,845,188 shares. If the resolution is passed,
the total number of votes that a shareholder may cast at future
meetings of the Company's shareholders will be reduced; however, a
shareholder's proportion of votes to total votes will not change in
any way.
Viridis cannot proceed with the share consolidation without the
approval of the TSX Venture Exchange (the "Exchange"). If the
shareholders pass the ordinary resolution and board decides to
proceed, the Exchange must also approve the share consolidation and
the consolidation will take effect on a date that will be
coordinated with the Exchange. The Company will announce the
effective date of the share consolidation by advance news
release.
Neither 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.
Viridis Investor Contact:
Yvonne L. Zappulla
Managing Director
Grannus Financial Advisors, Inc.
212-681-4108
Company Contact:
Michele Rebiere
Chief Financial Officer
Viridis Energy Inc
905-847-5226
investorinfo@viridisenergy.ca
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About Viridis Energy Inc.
Viridis Energy Inc. (TSXV:VRD) (OTC:VRDSF) is a publicly traded,
"Cleantech" manufacturer and distributor of renewable energy
providing wood waste biomass fuel to global residential and
industrial markets. Located in Vancouver, B.C., Viridis Energy
operates Viridis Merchants (Canada) Ltd., Okanagan Pellet Company,
Scotia Atlantic Biomass Company and Viridis Merchants Inc., thus
providing the company with vertical integration for distribution
and manufacturing as well as coast to coast national presence. For
more information on Viridis Energy Inc. please refer to the company
website at http://www.viridisenergy.ca/.
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