Good Job Digifonica & Management.
Mr. Gavin McMillan reports
DIGIFONICA INTERNATIONAL INC., ANNOUNCES PROPOSED SHARE CONSOLIDATION AND PRIVATE PLACEMENT
Digifonica International Inc. will consolidate its share capital on a 1:8 basis. Each shareholder will receive one common consolidated share for each eight preconsolidated common shares of the company.
The share consolidation is subject to regulatory and shareholder approval and any other regulations which maybe applicable. Shareholder approval will be sought at the company's annual general meeting.
In addition, the company wishes to announce a private placement of up to two million units (preconsolidation), at the purchase price of five cents per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant is exercisable into one common share for the period of 24 months at a strike price of 10 cents.
The common shares, warrants and common shares issuable upon exercise of the warrants are all subject to a four-month hold period.
No finder's fee is to be paid in respect of this private placement. Digifonica intends to utilize the net proceeds of the placement for general working capital purposes.
We seek Safe Harbor.
John J. Rambo