Vancouver, British Columbia--(Newsfile Corp. - February 28, 2024) - MineHub Technologies Inc. (TSXV: MHUB) (OTCQB: MHUBF) ("MineHub" or the "Company") announces that effective at the open of trading on Friday March 1, 2024 the Company's shares will trade on a post consolidation basis (see press release dated December 28, 2023) on the basis of one post-consolidation share for every two pre-consolidation shares (the "Consolidation").
As a result of the Consolidation, the number of then issued and outstanding shares will be reduced by half, subject to adjustment for rounding such that approximately 68,134,675 common shares will be issued and outstanding. No fractional shares will be issued in connection with the Consolidation. If a holder of shares would otherwise be entitled to a fraction of a share, then the number of post-consolidation shares issuable to such shareholder shall be rounded down to the next lower whole number. No cash consideration will be paid in respect of fractional shares. The exercise or conversion price and/or the number of shares issuable under any of the Company's outstanding convertible securities will be proportionately adjusted in connection with the Consolidation.
Shareholders of record as of the effective date will receive a letter of transmittal from Odyssey Trust Company, the transfer agent for the shares, providing instructions for the exchange of their shares as soon as practicable following the effective date. Until surrendered, each share certificate representing pre-consolidation shares will represent the number of whole post-consolidation shares to which the holder is entitled as a result of the consolidation. Beneficial shareholders holding their MineHub shares in brokerage accounts will have their positions adjustment automatically following the effective date. The post-Consolidation common shares are represented by CUSIP 60273M204 / ISIN CA60273M2040.
About MineHub Technologies
MineHub provides enterprise-grade digital solutions that connect buyers, sellers, laboratories and financiers within physical commodities supply chains in a digitally integrated workflow powered by data that is useable, shareable, verifiable and unforgeable. Users of MineHub solutions are in full control of their supply chains, enabling them to optimize their use of resources, respond better and faster to disruptions, and provide a better customer service. Global enterprises already use MineHub solutions as part of their logistics, compliance, trade management and financing operations.
Andrea Aranguren
CEO, MineHub Technologies Inc.
For further information regarding MineHub, please email info@minehub.com or visit our website at www.minehub.com. Tel: (604) 628-5623
Cautionary Note Regarding Forward-Looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199591
