GREY:SPONF - Post by User
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Youwakeupon Mar 23, 2021 9:11pm
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Post# 32863852
RE:Somebody posted this on ceo
RE:Somebody posted this on ceo They issue more and more shares because they want to consolidate them after. That's why they're moving to BC, where this consolidation would take a place with no shareholders permission:* Reason for Continuance The Board believes it is desirable for the Corporation to continue its corporate existence under the laws of the Province of British Columbia as the BCBCA has no requirement that directors of a British Columbia company be residents of Canada, as does the OBCA and the BCBCA provides management with greater flexibility for implementing a stock consolidation in conjunction with its plans to uplist its stock onto a larger stock exchange. Management has therefore determined that it is appropriate to place before the Meeting a special resolution to approve the discontinuance of the Corporation from the Province of Ontario and to continue the Corporation into the Province of British Columbia pursuant to the BCBCA.