VANCOUVER, Sept. 5, 2019 /CNW/ - MediaValet Inc. (TSX-V: MVP) (the "Company" or "MediaValet"), today announced that it has received TSX Venture Exchange ("TSXV") approval and will move forward with the previously announced consolidation (the "Share Consolidation") of its outstanding shares (the "Common Shares") on the basis of one (1) post-consolidation Common Share for every fifteen (15) pre-consolidated Common Shares, effective as of September 9th, 2019.
Following the Share Consolidation, the Common Shares will continue to be traded on the TSXV under the symbol "MVP". The Common Shares are scheduled to begin trading on a post-consolidation basis at market open on September 9th, 2019.
A letter of transmittal has been mailed to all registered shareholders with instructions on how to exchange their existing share certificate(s) for new share certificate(s).
No fractional Common Shares will be issued upon the Share Consolidation. In the event a holder of Common Shares would otherwise be entitled to receive a fractional Common Share in connection with the Share 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 exercise or conversion price of, and the number of Common Shares issuable under, any convertible securities of the Company will be proportionately adjusted upon the completion of the Share Consolidation.
About MediaValet Inc.
MediaValet stands at the forefront of the enterprise, cloud‐based, digital asset management industry. Built exclusively on Microsoft Azure and available within 140 countries, across 54 Microsoft data center regions around the world, MediaValet delivers unparalleled enterprise class security, reliability, redundancy and scalability while offering the largest global footprint of any DAM solution. In addition to providing all core DAM capabilities and local desktop‐to‐sever‐to‐cloud support for creative teams, MediaValet offers industry leading integrations with Slack, Adobe Creative Suite, Microsoft Office 365, Oracle Marketing Cloud (Eloqua), Wrike, Drupal 8, WordPress, Hootsuite and many other best‐in‐class 3rd party applications.
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 release.
This news release contains forward‐looking information that involve various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the statement that the Company intends to complete the Consolidation. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward‐looking information, including the TSX Venture Exchange not approving the Consolidation.
SOURCE MediaValet Inc.