VANCOUVER, May 4, 2017 /CNW/ - 3tl Technologies Corp. (TSXV: TTM)(OTCQB: TTMZF) (the "Company" or "3tl") announces that its Board of Directors have resolved to proceed with a consolidation of the Company's issued and outstanding common shares on the basis of ten (10) pre consolidation common shares for one (1) post-consolidated common share (the "Consolidation"). The Consolidation will provide the Company flexibility with respect to potential business transactions (including any equity financings).
The Consolidation is subject to regulatory approval.
The Company currently has 112,410,379 issued and outstanding common shares and the Company will have approximately 11,241,038 common shares issued and outstanding post-consolidation. The exact number of post-consolidated common shares will vary depending on the treatment of fractional shares which will occur when each shareholder's holdings in the Company are consolidated. Outstanding stock options and warrants would similarly be adjusted by the consolidation ratio.
The Company will not be changing its name and trading symbol in connection with the Consolidation.
The Company will provide further details of the regulatory approval process in due course.
About 3tl Technologies Corp.
PLATFORM³ is a Software as a Service (SaaS) consumer marketing platform. It enables Consumer Packaged Goods (CPG) companies and consumer brands to engage shoppers through their mobile device and influence their purchasing decisions. PLATFORM³ encompasses proprietary consumer engagement strategies and technology modules including optical character recognition (purchase receipt scanning), digital promotions, purchase data mining, loyalty and rewards. CPG companies and major retail brands use PLATFORM³ to influence and incentivize shoppers to interact with their brand and make purchases in-store and online.
For more information, visit 3tltechcorp.com.
For additional information about the company please visit www.sedar.com. The TSX Venture Exchange Inc. has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release. Neither 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, which involves known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from current expectation. Important factors - including the availability of funds and the results of financing efforts, - that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time on SEDAR (see www.sedar.com). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE 3tl Technologies Corp.
For further information: 3tl Technologies Corp., Robert Craig, Chief Executive Officer, (604) 639-5441, firstname.lastname@example.org