PureK Holdings Corp. Announces Three-for-One Forward Stock Split
VANCOUVER, British Columbia, Feb. 22, 2021 (GLOBE NEWSWIRE) — PureK Holdings Corp. (the “Company“) (TSX Venture: PKAN) announces that the Board of Directors of the Company has approved a 3 for 1 forward split (the “Stock Split“) of the Company’s issued and outstanding common shares, subject to approval of the TSX Venture Exchange (“TSXV“). All shareholders of record on February 26, 2021 will be entitled to the Stock Split.
The Company currently has a total of 7,013,126 common shares issued and outstanding. Following the proposed Stock Split, the Company would have a total of 21,039,378 common shares issued and outstanding. The name of the Company will not be changed in connection with the Stock Split.
The Company anticipates that the forward Stock Split will make its shares more accessible to investors and enhance liquidity for its shareholders.
Pursuant to the Articles of the Company, the forward Stock Split does not require approval of the shareholders of the Company. Shareholders do not need to take any action with respect to the Stock Split. The Company’s transfer agent will send owners of common shares a Direct Registration System (DRS) advice letter in lieu of a share certificate, which will represent the additional number of common shares to be received as a result of the Stock Split.
As per TSXV policy, the Stock Split is being conducted on a “push-out” basis and therefore the Company’s CUSIP number will remain the same. The common shares of the Company will trade on a due bill basis from February 25, 2021 to March 1, 2021, being the effective date for the Stock Split, inclusively. A due bill is an entitlement attached to listed securities undergoing a material corporate action, such as a stock split. In this instance, the entitlement is to the additional common shares issuable as a result of the Stock Split. Any trades that are executed on the TSXV during this period will be flagged to ensure purchasers receive the entitlement to the additional common shares issuable as a result of the Stock Split. The Company’s common shares will commence trading on a split-adjusted basis on March 2, 2021, at which time, the common shares will no longer have entitlement to additional common shares. The due bill redemption date will be March 3, 2021.
About PureK Holdings Corp.
PureK Holdings Corp. leads an international omni-channel platform with diversified assets in the emerging plant-based and holistic wellness consumer product categories. The company’s mission is focused on leading innovation for the informed Millennial and Generation Z generations in the rapidly growing plantbased, natural, and clean ingredient space. The company continues to focus on expansion into high-growth consumer product categories including CBD products, plant-based food and beverage, and the global pet care and skin care industries. For more information on PureK Holdings Corp., please visit: https://purekana.com/investor-relations/.
For further information:
Brian Meadows
Chief Financial Officer
Ph: +1 (855) 553-7441
Email: ir@purekana.com
Daniel Nussbaum
Media and Investor Relations
Ph: +1 (917) 232-8960
Email: Daniel@amwpr.com
Forward-Looking Information
Certain statements contained in this news release constitute “forward-looking information” and “forward-looking statements” as such terms are used in applicable Canadian securities laws. Forward-looking statements and information are based on plans, expectations and estimates of management at the date the information is provided and are subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking statements and information are subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking statements and information. Factors that could cause the forward-looking statements and information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the CBD industry and to the Company, as set forth in the Company’s Filing Statement in respect of its qualifying transaction filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update the forward-looking statements and information, other than as required by applicable law.
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 press release.
