Supreme Cannabis Company Inc. (The) T.FIRE

Curious about said 1:5 Reserve Split Vote

[solarcradle]

I saw this posted by a facebook user on the Facebook - Supreme Cannabis Company Discussion Group. I'm wondering if anyone can provide information about this?

"From the proxy vote..."

"To consider and, if deemed advisable, to pass with or without modification a special resolution approving a future consolidation of the Company's issued and outstanding Common Shares on the basis of one (1) post-consolidation Common Share for up to five (5) pre-consolidation Common Shares if, and at such time following the date of the Meeting, as the board of directors of the Company so determine, as more particularly described in the Circular."

I have not yet received any literature about it, yet. I'm wondering how small the float would be after a 1:5 reverse split, if it's true? Can someone please do the math? :) 

[OptGreen]

The Form for Proxy is on Sedar under Associated Documents, dated Nov 14/18, SC....don't like these reverse splits anytime but this would be the time ifthere is one for FIRE. I see $5.40 from here much easier than $27.00 post split, JMHO....Opt

[Mrderalick]

Perfect timing for this, what this will do is bring our share price up So when we uplist on the TSX we don’t have a Pennie stock image

[maritimedreamer]

I certainly did not see this.....i dont know what to think of it....my first impression is im piss d bc i worked hard to accumulate my share count and now it cut in fifth. But right now im trying to understand this b4 final conclusion..... can anyone help explain if this is good or bad for supreme? What would their rationale be with this regard? What are positives and negatives? I cant see market

[solarcradle]

I'm not sure what to think either. The nice thing is that it has only been proposed and open to vote on and discuss...for now.    Reverse splits usually have negative impacts on share price after a split occurs. Not always. I think that it would have some psychological impact on investors and a dip would follow. I don't know. What if they do a share buy back?   

[OptGreen]

Agreed SC/ md, we would need more clarity of the necessity of the split before the meeting, with enough time and to confirm whom you identify to exercise your vote....there will be an on line option to vote available as well but I have not recieved the Voting Instruction package yet. There are also the other ratios up to 1:5 maximum...a 1:2 or 1:3 may be acceptable based on the right criteria

[maritimedreamer]

So these are my thoughts so far.... i'm still kind of absorbing it..... right now i feel like i got stung....first impression im not happy, i worked hard to get my share count and now im down a fifth of that. I get no money lost, but psychologically im still taking a hit...but that is me thinking emotionally.... i think fundamentally this is probably the right call to do now....pending

[OptGreen]

I hear you and agree md, I think we need more info to really know what the plan really is in order to make a determination and a decision, that said everyone has to make the buy, sell or hold choices that are best for them but don't let it stress you out it is not like there is material problem or concern identified and there will be a gain, albeit not the gain we invested long term for, if we

[George141]

...I was there for the last one...it went from 8 cents to 40 cents (5 to 1 reverse...)...then it was a grind...I am not in favour...

[SILVERSTOCKS3]

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