Consolidation

Pure Acquisition Corp. Announces Business Combination Merger Consideration

Tuesday, July 7, 2020 - 10:45am

The closing of the business combination is subject to the requisite approval of Pures stockholders and the satisfaction of customary conditions.

Key Points: 
  • The closing of the business combination is subject to the requisite approval of Pures stockholders and the satisfaction of customary conditions.
  • The description of the business combination contained herein is only a summary and is qualified in its entirety by reference to the HPK Business Combination Agreement relating thereto.
  • Pure is a blank check company formed in Delaware on November 13, 2017 for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
  • Investors and security holders of Pure are urged to read the proxy statement/prospectus and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed business combination because they will contain important information about the business combination and the parties to the business combination.

Dream Unlimited Corp. Announces Effective Date of Share Consolidation

Thursday, July 2, 2020 - 10:01pm

TORONTO, July 02, 2020 (GLOBE NEWSWIRE) -- DREAM UNLIMITED CORP. (Dream or the Company) (TSX: DRM) today announced that it has filed articles of amendment implementing a previously announced consolidation (the Share Consolidation) of all the issued and outstanding Class A subordinate voting shares in the capital of Dream (the Subordinate Voting Shares) on the basis of one (1) post-consolidation Subordinate Voting Share for every two (2) pre-consolidation Subordinate Voting Shares, and all of the issued and outstanding Class B common shares in the capital of Dream (the Common Shares) on the basis of one (1) post-consolidation Common Share for every two (2) pre-consolidation Common Shares, effective July 2, 2020 (the Effective Date).

Key Points: 
  • TORONTO, July 02, 2020 (GLOBE NEWSWIRE) -- DREAM UNLIMITED CORP. (Dream or the Company) (TSX: DRM) today announced that it has filed articles of amendment implementing a previously announced consolidation (the Share Consolidation) of all the issued and outstanding Class A subordinate voting shares in the capital of Dream (the Subordinate Voting Shares) on the basis of one (1) post-consolidation Subordinate Voting Share for every two (2) pre-consolidation Subordinate Voting Shares, and all of the issued and outstanding Class B common shares in the capital of Dream (the Common Shares) on the basis of one (1) post-consolidation Common Share for every two (2) pre-consolidation Common Shares, effective July 2, 2020 (the Effective Date).
  • The Share Consolidation was previously approved by shareholders at the annual and special meeting of shareholders of the Company held on June 30, 2020.
  • As previously announced, no fractional Subordinate Voting Shares or Common Shares will be issued in connection with the Share Consolidation.
  • Please review the Circular for the specific terms and conditions of the Share Consolidation.

InMed Announces Completion of Share Consolidation

Tuesday, June 30, 2020 - 11:18pm

No fractional shares will be issued as a result of the Consolidation.

Key Points: 
  • No fractional shares will be issued as a result of the Consolidation.
  • Each fractional share remaining after consolidation that is less than 1/2 of a share will be cancelled and each fractional share that is at least 1/2 of a share will be rounded up to one whole share.
  • Each shareholder will hold the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.
  • Registered shareholders holding physical share certificates will receive by mail a letter of transmittal advising of the Consolidation and containing instructions.

Dream Unlimited Corp. Announces Voting Results of Annual and Special Meeting of Shareholders and Determination to Proceed With Share Consolidation

Tuesday, June 30, 2020 - 9:54pm

The Company intends to implement the Share Consolidation with effect on or about July 2, 2020 (the Effective Date).

Key Points: 
  • The Company intends to implement the Share Consolidation with effect on or about July 2, 2020 (the Effective Date).
  • The exact number of outstanding Subordinate Voting Shares and Common Shares outstanding after the Share Consolidation will vary based on the elimination of fractional shares.
  • No fractional Subordinate Voting Shares or Common Shares will be issued in connection with the Share Consolidation.
  • All fractions of post-consolidation Subordinate Voting Shares and Common Shares, will be rounded down to the nearest whole number.

Clarmin Explorations Inc. Enters Into Amalgamation Agreement for Reverse Takeover With Cybin Corp.

Monday, June 29, 2020 - 7:53pm

Completion of the transactions contemplated in the Amalgamation Agreement will result in the reverse takeover of Clarmin by Cybin (the Proposed Transaction).

Key Points: 
  • Completion of the transactions contemplated in the Amalgamation Agreement will result in the reverse takeover of Clarmin by Cybin (the Proposed Transaction).
  • Pursuant to the Amalgamation Agreement, Clarmin and Cybin will complete an arms length business combination by way of a three-cornered amalgamation pursuant to the provisions of the Business Corporations Act (Ontario).
  • The shareholders of Cybin (the Cybin Shareholders), other than the Cybin Shareholders who exercise their dissent rights, will receive, subject to adjustment, one common share in the capital of Clarmin (a Clarmin Share) (on a post-Clarmin consolidation basis) for each Cybin Share (as defined below) held.
  • For illustrative purposes, this press release assumes the Clarmin Shares will be consolidated on a 8.875:1 basis (the Consolidation).

Fusion Acquisition Corp. Announces Pricing of $305 Million Initial Public Offering

Friday, June 26, 2020 - 1:48am

NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) -- Fusion Acquisition Corp. (the Company) today announced the pricing of its initial public offering of 30,500,000 units at a price of $10.00 per unit.

Key Points: 
  • NEW YORK, June 25, 2020 (GLOBE NEWSWIRE) -- Fusion Acquisition Corp. (the Company) today announced the pricing of its initial public offering of 30,500,000 units at a price of $10.00 per unit.
  • Fusion Acquisition Corp. is a blank-check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
  • The Company has granted the underwriters a 45-day option to purchase up to an additional 4,575,000 units at the initial public offering price to cover over-allotments, if any.
  • This press release contains statements that constitute forward-looking statements, including with respect to the initial public offering and search for an initial business combination.

BetterLife Pharma Announces Consolidation of its Common Shares

Friday, June 26, 2020 - 1:00am

VANCOUVER, BC, June 25, 2020 /PRNewswire/ - BetterLife Pharma Inc. ("BetterLife" or the "Company") (CSE: BETR) (OTCQB: BETRF) (FRA: NPAT) announces that it has consolidated its common shares on the basis of one new common share for ten old common shares (the "Consolidation").

Key Points: 
  • VANCOUVER, BC, June 25, 2020 /PRNewswire/ - BetterLife Pharma Inc. ("BetterLife" or the "Company") (CSE: BETR) (OTCQB: BETRF) (FRA: NPAT) announces that it has consolidated its common shares on the basis of one new common share for ten old common shares (the "Consolidation").
  • As a result, the previously issued and outstanding 172,109,851 common shares of the Company have been consolidated into 17,210,985 common shares of BetterLife.
  • Each share certificate representing pre-Consolidation common shares will represent the number of whole post-Consolidation common shares to which the holder is entitled as a result of the Consolidation.
  • Shareholders who hold their common shares in brokerage accounts or in "street name" are also not required to take any action.

8i Enterprises Acquisition Corp. Announces Additional Contribution to Trust Account to Extend Period to Consummate Business Combination

Thursday, June 25, 2020 - 9:04pm

The purpose of the extension is to provide time for JFK to complete its initial business combination.

Key Points: 
  • The purpose of the extension is to provide time for JFK to complete its initial business combination.
  • About 8i Enterprises Acquisition Corp.
    JFK is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities.
  • This press release contains statements that constitute forward-looking statements, including the funding of the Trust Account to extend the period of time for JFK to consummate a business combination.
  • JFK undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Fluence Technologies Raises Significant Capital to Revolutionize Financial Consolidation

Tuesday, June 23, 2020 - 1:38pm

"This is the golden age of consolidation systems, but we haven't seen a new vendor in this space in quite some time.

Key Points: 
  • "This is the golden age of consolidation systems, but we haven't seen a new vendor in this space in quite some time.
  • The Fluence financial consolidation solution changes how midsize enterprises approach financial close, giving them access to data and efficiencies previously reserved for the world's largest corporations.
  • "Financial consolidation gets incredibly complex and successfully tackling the issue requires a combination of deep expertise in tech, data, and corporate financial management.
  • Fluence Technologies offers a next-generation cloud consolidation solution that powers a faster and more confident financial close for companies of all size.

Silver Mountain Announces Share Consolidation and Board Appointment

Friday, June 19, 2020 - 7:13pm

Following the completion of the Common Share consolidation, the Company will have approximately 3,216,767 Common Shares issued and outstanding.

Key Points: 
  • Following the completion of the Common Share consolidation, the Company will have approximately 3,216,767 Common Shares issued and outstanding.
  • Upon completion of the consolidation, letters of transmittal describing the details of the share consolidation and the process by which shareholders obtain actual share certificates representing the consolidated Common Shares will be mailed to the Companys registered shareholders.
  • If, because of the consolidation, a shareholder becomes entitled to a fractional share, such fractions will be rounded to the nearest whole Common Share.
  • We are very pleased to announce the appointment of Maria Nathanail to our Board of Directors, commented Vince Goegan, SMMs Chairman of the Board.