CALGARY, AB, April 13, 2022 /CNW/ - Health Logic
Interactive Inc. (the "Corporation") (TSXV: CHIP.H) (OTCPK:
CHYPF) announces that the Corporation will undertake a
consolidation ("Consolidation") of its outstanding common
shares on the basis of one (1) post-Consolidation Share for every
four (4) pre-Consolidation shares. The Consolidation has been
approved by the directors of the Corporation, in accordance with
the Articles of the Corporation.
Subject to the approval of the TSX Venture Exchange, on or about
April 18, 2022, the common shares of
the Corporation will commence trading on a post-Consolidation basis
under the existing ticker symbol. As of the date of this news
release, the Corporation has 26,896,767 common shares issued and
outstanding. Following completion of the Consolidation, the
Corporation is expected to have approximately 6,724,192 common
shares issued and outstanding. The exercise price and number
of common shares issuable upon the exercise of the Corporation's
outstanding options and warrants will also be proportionally
adjusted upon completion of the Consolidation.
A letter of transmittal will be mailed to registered
shareholders once the Consolidation has taken effect. The
letter of transmittal contains instructions on how registered
shareholders can exchange their share certificates evidencing their
pre-Consolidation shares for new share certificates representing
the number of post-Consolidation shares to which they are
entitled.
Beneficial shareholders holding their shares through a brokerage
may be subject to different procedures for obtaining their
post-Consolidation shares. If shareholders have any questions
in this regards, they are encouraged to contact their respective
brokerage or intermediary.
For more information concerning the Corporation, please refer to
the Corporation's profile on the SEDAR website at
www.sedar.com.
Forward-Looking Information
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
events or future performance. The use of any of the words "intend",
"may", "will", "expect", and similar expressions and statements
relating to matters that are not historical facts are intended to
identify forward-looking information and are based on the
Corporation's current beliefs or assumptions as to the outcome and
timing of such future events. Actual future results may differ
materially. In particular, this press release contains
forward-looking information with respect to the receipt of
regulatory approvals (including TSXV approvals) and the timing of
the Consolidation. Various assumptions or factors are typically
applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to the Corporation. The material facts and assumptions
include obtaining approval of the TSXV of the proposed
Consolidation and the date on which the Consolidation will become
effective. The Corporation cautions the reader that the above list
of risk factors is not exhaustive. The forward-looking information
contained in this release is made as of the date hereof and the
Corporation is not obligated to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws. Due to the risks, uncertainties and
assumptions contained herein, investors should not place undue
reliance on forward- looking information. The foregoing statements
expressly qualify any forward-looking information contained
herein.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or
accuracy of the content of this release.
Not for distribution to U.S. Newswire Services or for
dissemination in the United
States. Any failure to comply with this restriction may
constitute a violation of U.S. Securities Laws.
THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE
U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR
SOLD IN THE UNITED STATES ABSENT
REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE
SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL.
SOURCE Health Logic Interactive Inc.