7 to 1 Share ConsolidationWhy???
https://webfiles.thecse.com/2021-11-29_-_News_Release_-_Consolidation.pdf?Ya08v1TZJnP72pXi6caa7Ev.0VBBBOj7
Cover Technologies Announces Share Consolidation VANCOUVER, B.C., CANADA – November 29, 2021 - COVER TECHNOLOGIES INC. (CSE: COVE) (OTC: MGPRF) (Frankfurt: 304A) (the “Company” or “Cover”) announces that, pursuant to a director’s resolutions, the Company will be consolidating all of its issued and outstanding share capital (the “Common Shares”) on the basis of every seven (7 ) old Common Shares into one (1) new Common Share (the “Share Consolidation”), effective December 3, 2021 (the “Record Date”). As a result of the Share Consolidation, the issued and outstanding Common Shares will be reduced to approximately 4,067,959. Any fractional Common Shares remaining after giving effect to the Share Consolidation will be cancelled. The exercise or conversion price and the number of Common Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon the Share Consolidation. New ISIN: CA22289X2023 New CUSIP: 22289X202 The Common Shares are expected to begin trading on a post-Share Consolidation basis on the Canadian Securities Exchange when markets open on December 2, 2021.