OTTAWA, Dec. 8 , 2014 /CNW/ - Ackroo Inc. (TSX-V: AKR) (the "Company"), a loyalty and rewards technology and services provider, announces that it has completed its previously announced consolidation (the "Consolidation") of the Company's issued and outstanding share capital on the basis of ten (10) pre-Consolidation shares to one (1) post-Consolidation share.
Effective at the open of the market on December 9, 2014, the Company's common shares will trade on a post-Consolidation basis. As part of the Consolidation, the Company will issue new share certificates under a new CUSIP number, which is 00461T207. The Company's common shares will continue to trade on the TSX Venture Exchange under its current symbol "AKR".
Following completion of the Consolidation, the Company has approximately 6,891,972 common shares issued and outstanding. Registered shareholders will receive a letter of transmittal from Computershare Investors Services Inc., the Company's transfer agent, with information on how to replace their old share certificates with the new share certificates.
Ackroo is a SaaS based solution provider supplying gift card and loyalty solutions into the $160 billion North American gift card and loyalty market. Their solutions enable businesses, merchants and business networks to increase profitability and build long-term customer relationships through customized gift card and loyalty programs. Ackroo's web-based solutions provide the power of a massively scalable software platform in a lightweight online tool that works with existing point-of-sale equipment, making it easy and affordable for businesses to launch gift card, loyalty and rewards programs that deliver immediate return on investment. Ackroo is headquartered in Ottawa, Canada. For more information, visit: www.ackroo.com.
The TSX Venture Exchange 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 policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release contains statements that constitute forward looking statements. These statements include, among others, statements about Ackroo's intention to complete a private placement. Readers are cautioned not to place undue reliance on such forward looking statements. Such statements are based on current expectations and assumptions and involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Ackroo Inc.
SOURCE: Ackroo Inc.
For further information: Steve Levely, Chief Executive Officer, Ackroo, Tel: 613-599-2396 x730, Email: [email protected]