DLTa 21 Announces Share Consolidation and Non-Brokered Private Placement of up to CAD$205,000
February 19 2020 - 08:30PM
DLTa 21 Blockchain Corp. (“
DLTa21" or the
“
Company”), a Canadian technology company, is
pleased to announce the following corporate updates:
Share Consolidation
Effective February 18, 2020, the Company
consolidated its common shares (the "Shares") on the basis of one
(1) post‐consolidated Share for every twenty (20) pre‐consolidated
Shares held (the "Consolidation"). The new CUSIP number is
23341W208 and the new ISIN number is CA23341W2085.
The Consolidation was approved by the Board of
Directors of the Company on February 7, 2020. No fractional Shares
will be issued under the Consolidation as fractional Shares will be
rounded down to the nearest whole number. The exercise or
conversion price and the number of Common Shares issuable under any
of the Company’s outstanding convertible securities were
proportionately adjusted upon the Consolidation becoming effective.
Prior to the Consolidation the Company had 73,173,094 common shares
issued and outstanding and immediately following the Consolidation
the Company will have 3,658,609 common shares issued and
outstanding.
Letters of transmittal with respect to the
Consolidation were mailed to all registered shareholders of the
Company on February 19, 2020. All shareholders who submit a duly
completed letter of transmittal along with their respective share
certificate(s) representing the pre-consolidated Shares to the
Company's transfer agent, Computershare Investor Services Inc.,
will receive a certificate representing the post-consolidated
Shares.
Non-Brokered Private
Placement
DLTa21 further announces its intention to
complete a non-brokered private placement financing of up to
14,642,857 shares of DLTa21 at $0.014 per Share for total aggregate
proceeds of up to CAD$205,000 (the “Placement”).
All of the Shares issued in the Placement will be subject to a
four-month hold period from the date of closing. DLTa21 intends to
use the net proceeds from the Placement to repay an outstanding
loan, to settle accounts payable and certain accrued liabilities
and for general working capital purposes. The Placement is expected
to close on or before February 28, 2020.
The securities offered have not been, and will
not be, registered under the United States Securities Act of 1933,
as amended, (the “U.S. Securities Act”) or any U.S. state
securities laws, and may not be offered or sold in the United
States or to, or for the account or benefit of, United States
persons absent registration or any applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws. This news release does not constitute
an offer to sell or the solicitation of any offer to buy securities
in the United States, nor in any other jurisdiction.
On behalf of the Board of Directors of DLTA 21
Blockchain Corp.
“B. Matthew Hornor”
B. Matthew HornorExecutive Chairman
For further information please contact:
Andrew Stibbs, VP Corporate DevelopmentEmail:
andrew.stibbs@NFluenceai.comTelephone:
778-373-3743www.nfluenceai.com
Forward Looking Statements
Certain statements made in this press release may constitute
forward-looking information under applicable securities laws. These
statements may relate to anticipated events or results and include,
but are not limited to, expectations regarding the terms the
Offering and receipt of related regulatory approvals, the Closing
Date and other statements that are not historical facts.
Particularly, information regarding our expectations of future
results, targets, performance achievements, prospects or
opportunities is forward-looking information. Often, but not
always, forward-looking statements can be identified by the use of
forward-looking terminology such as "may" "will", "expect",
"believe", "estimate", "plan", "could", "should", "would",
"outlook", "forecast", "anticipate", "foresee", "continue" or the
negative of these terms or variations of them or similar
terminology. Forward-looking statements are current as of the date
they are made and are based on applicable estimates and assumptions
made by us at the relevant time in light of our experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors that we believe are
appropriate and reasonable in the circumstances. However, we do not
undertake to update any such forward-looking information whether as
a result of new information, future events or otherwise, except as
required under applicable securities laws in Canada. There can
be no assurance that such estimates and assumptions will prove to
be correct.