Cadillac Ventures Inc. Announces Share Consolidation
TORONTO, July 14, 2021 - Cadillac Ventures Inc. ("Cadillac" or the "Company") (TSXV:CDC) announces the consolidation, effective July 15, 2021, of its issued and outstanding common shares at a ratio of three (3) pre-consolidated shares to one (1) post-consolidation share (the "Consolidation"). The purpose of the Consolidation is to facilitate the Company's ability to attract future financings, generate greater investor interest and improve trading liquidity. Prior to the Consolidation, the Company had 150,960,910 common shares issued and outstanding. Upon completion of the Consolidation, the Company will have approximately 50,320,303 common shares issued and outstanding. All fractional shares are to be rounded down to the nearest whole number of common shares.
Registered shareholders holding share certificates have been mailed a letter of transmittal advising of the Consolidation and instructing them to surrender their share certificates representing pre-consolidation shares for replacement certificates or a direct registration advice representing their post-consolidation shares.
The Company received shareholder approval for the Consolidation at its Annual and Special Meeting of Shareholders held on November 11, 2020 and board approval on May 20, 2021.
The Consolidation was accepted by the TSX Venture Exchange on July 13, 2021 to be effective as of July 15, 2021.
Cautionary statement regarding forward-looking statements
This press release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "assumes", "potential" and similar expressions. Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including, without limitation, statements and expectations. These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on Cadillac's respective expectations and considered reasonable at the time they were made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including those described in Cadillac's respective public disclosure documents on SEDAR at www.sedar.com. As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this release. Unless required by law, Cadillac does not intend to, or assume any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information, please visit Cadillac's website www.cadillacventures.com, or contact Norman Brewster, President and Chief Executive Officer, at 905-837-2000.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
SOURCE: Cadillac Ventures Inc.