RE:News as Predicted wow, tough rollback.
1:33 share rollback Inmed Pharmaceuticals completes 1:33 share rollback
INMED ANNOUNCES COMPLETION OF SHARE CONSOLIDATION
Inmed Pharmaceuticals Inc., further to its press release dated June 19, 2020, in conjunction with its application to list its common shares on the Nasdaq Stock Market, has completed the consolidation of its issued and outstanding common shares on the basis of 33 preconsolidation common shares for one postconsolidation common share.
Subject to the approval of the Toronto Stock Exchange ("TSX"), the Company's common shares are expected to commence trading on a post-consolidated basis on the TSX (ticker symbol: IN) on July 3rd, 2020 and, due to the observation on July 3, 2020 of the US Independence Day, trading on the OTCQX Best Market (ticker symbol: IMLFF) beginning July 6 th, 2020 under the same trading symbols and with new CUSIP number 457637502 and ISIN number CA4576375022.
The Consolidation will result in the number of issued and outstanding common shares of the Company being reduced from 172.3 million to approximately 5.22 million on a non-diluted basis. No fractional shares will be issued as a result of the Consolidation. Each fractional share remaining after consolidation that is less than 1/2 of a share will be cancelled and each fractional share that is at least 1/2 of a share will be rounded up to one whole share. Each shareholder will hold the same percentage of common shares outstanding immediately after the Consolidation as such shareholder held immediately prior to the Consolidation.