Alternext: MNEMO: ALHEO
QUEBEC CITY, Dec. 1, 2014 /CNW Telbec/ - (TSX-V: HEO) (OTCQX: HEOFF) – H2O Innovation Inc. ("H2O Innovation" or the "Company") announces that it has filed articles of amendment to give effect to the share consolidation (the "Share Consolidation") on the basis of one (1) post-consolidated Common share for every five (5) pre-consolidation Common shares, as announced in its press release dated September 29, 2014. The Share Consolidation was approved by special resolution of the Company's shareholders at its Annual and Special Meeting held on November 11, 2014. It is expected that the Common shares will commence trading on the TSX Venture Exchange on a consolidated basis on or about December 1, 2014.
"As expressed in our previous communications regarding the Share Consolidation, we believe the share price post-consolidation will better reflect the actual maturity of the Company and, combined with our recent listing on the American OTCQX marketplace, should give us access to a larger institutional shareholder basis rather interested in growing companies then penny stocks" stated Frédéric Dugré, President and CEO of H2O Innovation.
Letters of transmittal with respect to the Share Consolidation have been mailed out to all registered shareholders. All registered shareholders of the Company are required to send their certificates representing pre-consolidation Common shares with a properly executed letter of transmittal to the transfer agent of the Company, CST Trust Company, in accordance with the instructions provided in the letter of transmittal. No fractional shares will be issued, and no cash consideration will be paid, if, as a result of the Share Consolidation, a registered shareholder would become entitled to a fractional common share.
Shareholders who hold their Common shares through their broker or other intermediary and do not have actual share certificates will not be required to complete and return a letter of transmittal. Any pre-consolidation Common shares owned by such shareholders will automatically be adjusted as a result of the Share Consolidation and no further action is required to be taken by such shareholders.
Further to the Share Consolidation, the Company will have approximately 20,926,595 issued and outstanding Common shares. The Company's Common shares will continue to trade on the TSX Venture Exchange under its existing symbol "HEO", on Euronext/Alternext (France) under "ALHEO" and on the OTCQX marketplace (USA) under "HEOFF".
Certain statements set forth in this press release regarding the operations and the activities of H2O Innovation may constitute forward-looking statements within the meaning of securities legislation. Forward-looking statements concern analysis and other information based on forecast future results, performance and achievements and the estimate of amounts that cannot yet be determined. Those forward-looking statements, based on the current expectations of management, involve a number of risks and uncertainties, known and unknown, which may result in actual and future results, performance and achievements of the Company to be materially different than the said forward-looking statements. Information about the risk factors to which the Company is exposed is provided in the Annual Information Form dated September 22, 2014 available on SEDAR (www.sedar.com).
About H2O Innovation
H2O Innovation designs and provides state-of-the-art, custom-built, and integrated water treatment solutions based on membrane filtration technology to municipal, energy & natural resources end-users. Also, directly and through its affiliates, H2O Innovation provides services and products complementary to its membrane filtration and reverse osmosis systems. These products consist of a complete line of specialty chemicals and consumables and a complete line of couplings. For more, visit www.h2oinnovation.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) nor the Alternext Exchange accepts responsibility for the adequacy or accuracy of this release.
SOURCE: H2O Innovation Inc.
For further information: Source: H2O Innovation Inc., www.h2oinnovation.com; Contact: Marc Blanchet, +1 418-688-0170, [email protected]