PureK Holdings Corp. Announces Three-for-One Forward Stock Split
February 22 2021 - 8:36AM
PureK Holdings Corp. (the "
Company") (TSX
Venture: PKAN) announces that the Board of Directors of the Company
has approved a 3 for 1 forward split (the "
Stock
Split") of the Company's issued and outstanding
common shares, subject to approval of the TSX Venture Exchange
("
TSXV"). All shareholders of record on February
26, 2021 will be entitled to the Stock Split.
The Company currently has a total of 7,013,126
common shares issued and outstanding. Following the proposed Stock
Split, the Company would have a total of 21,039,378 common shares
issued and outstanding. The name of the Company will not be changed
in connection with the Stock Split.
The Company anticipates that the forward Stock
Split will make its shares more accessible to investors and enhance
liquidity for its shareholders.
Pursuant to the Articles of the Company, the
forward Stock Split does not require approval of the shareholders
of the Company. Shareholders do not need to take any action with
respect to the Stock Split. The Company's transfer agent will send
owners of common shares a Direct Registration System (DRS) advice
letter in lieu of a share certificate, which will represent the
additional number of common shares to be received as a result of
the Stock Split.
As per TSXV policy, the Stock Split is being
conducted on a "push-out" basis and therefore the Company's CUSIP
number will remain the same. The common shares of the Company will
trade on a due bill basis from February 25, 2021 to March 1, 2021,
being the effective date for the Stock Split, inclusively. A due
bill is an entitlement attached to listed securities undergoing a
material corporate action, such as a stock split. In this instance,
the entitlement is to the additional common shares issuable as a
result of the Stock Split. Any trades that are executed on the TSXV
during this period will be flagged to ensure purchasers receive the
entitlement to the additional common shares issuable as a result of
the Stock Split. The Company's common shares will commence trading
on a split-adjusted basis on March 2, 2021, at which time, the
common shares will no longer have entitlement to additional common
shares. The due bill redemption date will be March 3, 2021.
About PureK Holdings Corp.
PureK Holdings Corp. leads an international
omni-channel platform with diversified assets in the emerging
plant-based and holistic wellness consumer product categories. The
company’s mission is focused on leading innovation for the informed
Millennial and Generation Z generations in the rapidly growing
plantbased, natural, and clean ingredient space. The company
continues to focus on expansion into high-growth consumer product
categories including CBD products, plant-based food and beverage,
and the global pet care and skin care industries. For more
information on PureK Holdings Corp., please visit:
https://purekana.com/investor-relations/.
For further information:
Brian MeadowsChief Financial OfficerPh: +1 (855) 553-7441Email:
ir@purekana.com
Daniel NussbaumMedia and Investor RelationsPh: +1 (917)
232-8960Email: Daniel@amwpr.com
Forward-Looking Information
Certain statements contained in this news
release constitute "forward-looking information" and
"forward-looking statements" as such terms are used in applicable
Canadian securities laws. Forward-looking statements and
information are based on plans, expectations and estimates of
management at the date the information is provided and are subject
to certain factors and assumptions, including, that the Company’s
financial condition and development plans do not change as a result
of unforeseen events and that the Company obtains regulatory
approval. Forward-looking statements and information are subject to
a variety of risks and uncertainties and other factors that could
cause plans, estimates and actual results to vary materially from
those projected in such forward-looking statements and information.
Factors that could cause the forward-looking statements and
information in this news release to change or to be inaccurate
include, but are not limited to, the risk that any of the
assumptions referred to prove not to be valid or reliable, that
occurrences such as those referred to above are realized and result
in delays, or cessation in planned work, that the Company’s
financial condition and development plans change, and delays in
regulatory approval, as well as the other risks and uncertainties
applicable to the CBD industry and to the Company, as set forth in
the Company’s Filing Statement in respect of its qualifying
transaction filed under the Company’s profile at www.sedar.com. The
Company undertakes no obligation to update the forward-looking
statements and information, other than as required by applicable
law.
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 press release.
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