Vancouver, British Columbia–(Newsfile Corp. – December 23, 2022) – Beyond Medical Technologies Inc. (CSE: DOCT) (FSE: 7FM4) (OTC Pink: DOCKF) (“Beyond Medical” or the “Company“), announces that effective December 30, 2022, the Company will consolidate its common shares (the “Common Shares“) on a ten (10) to one (1) basis (the “Consolidation“).
The name of the Company and trading symbol will remain the same after the Consolidation. The new CUSIP number will be 088641204 and the new ISIN number will be CA0886412042 for the post Consolidation Common Shares.
No fractional Common Shares will be issued upon the Consolidation. In the event a holder of Common Shares would otherwise be entitled to receive a fractional Common Share in connection with the 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 Company’s post-Consolidation Common Shares are expected to begin trading on the Canadian Securities Exchange (“CSE“) on or about December 30, 2022. The total issued and outstanding number of Common Shares post-Consolidation will be approximately 7,913,975. The record date for the Consolidation is January 3, 2023.
Registered shareholders that hold physical share certificates will receive a letter of transmittal requesting that they forward pre-consolidation common share certificates to the Company’s transfer agent, Computershare Investor Services Inc., for exchange for new share certificates representing common shares on a post-consolidation 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.
ON BEHALF OF THE BOARD OF DIRECTORS
Kal Malhi, Chairman
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Neither the CSE nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.