VANCOUVER, Sept. 5, 2019 /CNW/ - MediaValet Inc.
(TSX-V: MVP) (the "Company" or "MediaValet"), today announced that
it has received TSX Venture Exchange ("TSXV") approval and
will move forward with the previously announced consolidation (the
"Share Consolidation") of its outstanding shares (the
"Common Shares") on the basis of one (1) post-consolidation
Common Share for every fifteen (15) pre-consolidated Common Shares,
effective as of September 9th,
2019.
Following the Share Consolidation, the Common Shares will
continue to be traded on the TSXV under the symbol "MVP". The
Common Shares are scheduled to begin trading on a
post-consolidation basis at market open on September 9th, 2019.
A letter of transmittal has been mailed to all registered
shareholders with instructions on how to exchange their existing
share certificate(s) for new share certificate(s).
No fractional Common Shares will be issued upon the Share
Consolidation. In the event a holder of Common Shares would
otherwise be entitled to receive a fractional Common Share in
connection with the Share Consolidation, the number of Common
Shares to be received by such shareholder will be rounded down to
the next whole number if that fractional Common Share is less than
one half (1/2) of a Common Share, and will be rounded up to the
next whole number of Common Shares if that fractional Common Share
is equal to or greater than one half (1/2) of a Common Share.
The exercise or conversion price of, and the number of Common
Shares issuable under, any convertible securities of the Company
will be proportionately adjusted upon the completion of the Share
Consolidation.
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise,
cloud‐based, digital asset management industry. Built exclusively
on Microsoft Azure and available within 140 countries, across 54
Microsoft data center regions around the world, MediaValet delivers
unparalleled enterprise class security, reliability, redundancy and
scalability while offering the largest global footprint of any DAM
solution. In addition to providing all core DAM capabilities and
local desktop‐to‐sever‐to‐cloud support for creative teams,
MediaValet offers industry leading integrations with Slack, Adobe
Creative Suite, Microsoft Office 365, Oracle Marketing Cloud
(Eloqua), Wrike, Drupal 8, WordPress, Hootsuite and many other
best‐in‐class 3rd party applications.
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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 release.
This news release contains forward‐looking
information that involve various risks and uncertainties regarding
future events. Such forward‐looking information can
include without limitation statements based on current expectations
involving a number of risks and uncertainties and are not
guarantees of future performance of the Company, such as the
statement that the Company intends to complete the Consolidation.
There are numerous risks and uncertainties that could cause actual
results and the Company's plans and objectives to differ materially
from those expressed in the forward‐looking
information, including the TSX Venture Exchange not approving the
Consolidation.
SOURCE MediaValet Inc.