Vancouver, British Columbia--(Newsfile Corp. - November 8, 2024) - Pluto Ventures Inc. (CSE: PLTO) ("Pluto") is pleased to announce that its board of directors have approved a forward split of the Company's common shares (the "Common Shares") on the basis of two (2) new Common Shares for each one (1) Common Share currently outstanding (the "Stock Split"), with an effective date of November 13, 2024. Each shareholder of record of the Company as of the close of business on November 13, 2024 (the "Record Date") will receive one (1) additional share for each share held on such date.
The Company currently has 10,806,000 Common Shares issued and outstanding. Upon completion of the Stock Split, there will be 21,612,000 Common Shares issued and outstanding. The Company's authorized share capital will remain unchanged.
The Stock Split will be conducted on a push-out basis, therefore no action is required by shareholders in connection with the Stock Split. Existing direct registration statements ("DRS") representing Common Shares of the Company will remain effective. They should be retained by shareholders and should not be forwarded to the Company or Endeavor Trust Corporation ("Endeavor"), the Company's registrar and transfer agent. Endeavor will electronically issue the appropriate number of Common Shares to CDS Clearing and Depository Services Inc. for distribution to non-registered (beneficial) shareholders. Non-registered (beneficial) shareholders who hold their Common Shares in an account with their investment dealer or other intermediary will have their accounts automatically updated to reflect the Stock Split in accordance with the applicable brokerage account providers' usual procedures. In addition, on or about the week of November 13, 2024, Endeavor will email or mail DRS representing the additional Common Shares issued to registered shareholders as a result of the Stock Split.
There will be no change to the Company's name, CUSIP or its current trading symbol in connection with the Stock Split.
The purpose of the Stock Split is to increase market liquidity of Pluto's Common Shares, and to provide opportunities for ownership of Pluto's Common Shares by a wider group of investors.
Reader Advisory
The CSE has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither the CSE nor its regulation services provider (as that term is defined in the Policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.
None of the securities of Pluto have been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities law, and may not be offered or sold in the United States or to, or for the account or benefit of, persons in the United States or "U.S. persons" (as such term is defined in Regulation S under the U.S. Securities Act) absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Forward-Looking Information Advisory
This press release contains "forward-looking information", which is disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action The following table identifies the significant forward-looking information in this press release, and states the material factors or assumptions used to develop the forward-looking information, as well as the material risk factors that could cause actual results to differ materially from the forward looking information.
Pluto's views regarding possible events, conditions or financial performance may change. However, Pluto does not intend to update the forward-looking information in this press release, except as required by applicable securities legislation.
Further Information
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