TORONTO, ON / ACCESSWIRE / September 18, 2020 / StageZero Life Sciences, Ltd (TSX:SZLS) ("StageZero" or the "Corporation") announced that trading of the common shares on the TSX on a post-Consolidation basis commences at market open on September 18, 2020. The Corporation's warrants, including its TSX-listed warrants, and convertible debentures have also proportionately adjusted in accordance with their terms effective September 18, 2020.
The Consolidation was approved by the shareholders at the Special and Annual General Meeting on August 17, 2020, and announced on September 8, 2020.
"With bank support into the critical institutional investor segment as StageZero grows in sophistication and reach, significant revenue being generated from our COVID strategy as new clients come on board, and with Aristotle coming into a market that is getting good exposure; we felt now was the time to consolidate as we position StageZero correctly," said James Howard-Tripp, Chairman and CEO.
As a consequence of the consolidation, the Corporation's 391,521,071 pre-consolidation common shares are reduced to approximately 48,940,134 common shares on a post-Consolidation basis. No fractional common shares of the Corporation were issued in connection with the Consolidation. The new CUSIP for the post-Consolidation common shares is 852540301.
Effective today, warrants issued by the Company, including its TSX-listed warrants (such TSX-listed warrants are the "Listed Warrants") have also been adjusted proportionately in response to the Consolidation. On September 18, 2020, the exercise of eight (8) Listed Warrants will be required to purchase one (1) post-Consolidation common share for an aggregate exercise price of $0.72 per whole Common Share. The Listed Warrants continue to trade under their existing CUSIP.