Mr. Peeyush Varshney reports
ZOGLO'S FOOD ANNOUNCES CONSOLIDATION OF COMMON SHARES
Pursuant to receipt of shareholder approval on Nov. 15, 2023, Zoglo's Food Corp. will implement the consolidation of its common shares in the capital of the company on the basis of one postconsolidation share for every 50 preconsolidation shares, effective as of Dec. 5, 2023.
The company name and trading symbol will remain unchanged after the consolidation. The new Cusip number will be 98979D201, and the new ISIN number will be CA98979D2014 for the postconsolidation shares.
The company's postconsolidation shares are expected to begin trading on the Canadian Securities Exchange on or about Dec. 5, 2023. The total issued and outstanding number of shares postconsolidation will be approximately 2,185,676, subject to rounding for fractional shares.
No fractional shares will be issued in connection with the consolidation. In the event a holder of shares would otherwise be entitled to receive a fractional share in connection with the consolidation, the number of shares to be received by such shareholder will be rounded down to the next whole number if that fractional share is less than one-half of a share and will be rounded up to the next whole number if that fractional share is equal to or greater than one-half of a share.
The exercise or conversion price, and the number of shares issuable under any of the company's outstanding convertible securities, will be proportionately adjusted upon the effectiveness of the consolidation.
Registered shareholders who hold physical share certificates will receive a letter of transmittal requesting that they forward preconsolidation share certificates to the company's transfer agent, Olympia Trust Company, for exchange for new share certificates representing shares on a postconsolidation basis. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their own name will not be required to complete a letter of transmittal.
We seek Safe Harbor.
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