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Adastra Holdings (CSE: XTRX, FSE: D2EP), a prominent cannabis processor and producer, announced a proposed 10:1 share consolidation pending approval from the Canadian Securities Exchange (CSE). This consolidation will reduce the number of issued and outstanding common shares from 55,970,547 to approximately 5,597,055. Proportionate adjustments will be made to outstanding options, and no fractional shares will be issued, as fractions will be rounded to the nearest whole number. Subject to CSE approval, the consolidated shares are expected to begin trading on or around October 15, 2024, under the trading symbol “XTRX”. Registered shareholders will receive a letter of transmittal from National Securities Administrators (NSA) with instructions on how to exchange their pre-consolidation shares. Non-registered shareholders should contact their intermediaries for further details. The letter of transmittal will be available on SEDAR+ and the company’s website.
Adastra Holdings (CSE: XTRX, FSE: D2EP), un importante processore e produttore di cannabis, ha annunciato una proposta di consolidamento delle azioni in un rapporto di 10:1, in attesa dell’approvazione dalla Canadian Securities Exchange (CSE). Questo consolidamento ridurrà il numero di azioni ordinarie emesse e in circolazione da 55.970.547 a circa 5.597.055. Saranno effettuati aggiustamenti proporzionali alle opzioni in circolazione, e non saranno emesse azioni frazionarie, poiché le frazioni verranno arrotondate al numero intero più vicino. Soggette all’approvazione della CSE, si prevede che le azioni consolidate inizieranno a essere scambiate intorno al 15 ottobre 2024, con il simbolo di trading “XTRX”. Gli azionisti registrati riceveranno una lettera di trasmissione dagli Amministratori Nazionali dei Titoli (NSA) con istruzioni su come scambiare le loro azioni pre-consolidamento. Gli azionisti non registrati dovrebbero contattare i loro intermediari per ulteriori dettagli. La lettera di trasmissione sarà disponibile su SEDAR+ e sul sito web della società.
Adastra Holdings (CSE: XTRX, FSE: D2EP), un destacado procesador y productor de cannabis, anunció una propuesta de consolidación de acciones en una relación de 10:1, pendiente de la aprobación de la Canadian Securities Exchange (CSE). Esta consolidación reducirá el número de acciones comunes emitidas y en circulación de 55,970,547 a aproximadamente 5,597,055. Se realizarán ajustes proporcionales a las opciones en circulación, y no se emitirán acciones fraccionarias, ya que las fracciones se redondearán al número entero más cercano. Sujeta a la aprobación de la CSE, se espera que las acciones consolidadas comiencen a cotizar alrededor del 15 de octubre de 2024, bajo el símbolo de cotización “XTRX”. Los accionistas registrados recibirán una carta de transmisión de los Administradores Nacionales de Valores (NSA) con instrucciones sobre cómo intercambiar sus acciones anteriores a la consolidación. Los accionistas no registrados deben ponerse en contacto con sus intermediarios para obtener más detalles. La carta de transmisión estará disponible en SEDAR+ y en el sitio web de la empresa.
Adastra Holdings (CSE: XTRX, FSE: D2EP), 주요 대마초 가공 및 생산업체가 캐나다 증권 거래소(CSE)의 승인을 기다리며 10:1의 주식 통합을 제안했습니다. 이 통합으로 발행 및 유통 중인 보통주 수가 55,970,547주에서 약 5,597,055주로 줄어듭니다. 유통 중인 옵션에 대해서도 비례 조정이 이루어지며, 소수 주식은 가까운 정수로 반올림되어 발행되지 않습니다. CSE의 승인을 받은 후 통합된 주식은 2024년 10월 15일경에 “XTRX”라는 거래 기호로 거래될 것으로 예상됩니다. 등록된 주주들은 미주리주 국가 증권 관리국(NSA)으로부터 사전 통합 주식을 교환하는 방법에 대한 지침이 포함된 전송서를 받게 됩니다. 비등록 주주들은 중개인에게 추가 정보를 요청해야 합니다. 전송서는 SEDAR+와 회사 웹사이트에서 제공될 것입니다.
Adastra Holdings (CSE: XTRX, FSE: D2EP), un important transformateur et producteur de cannabis, a annoncé une proposition de consolidation des actions dans un rapport de 10:1, en attente de l’approbation de la Bourse canadienne des valeurs mobilières (CSE). Cette consolidation réduira le nombre d’actions ordinaires émises et en circulation de 55 970 547 à environ 5 597 055. Des ajustements proportionnels seront apportés aux options en circulation, et aucune action fractionnelle ne sera émise, les fractions étant arrondies au nombre entier le plus proche. Sous réserve de l’approbation de la CSE, les actions consolidées devraient commencer à être négociées autour du 15 octobre 2024, sous le symbole boursier “XTRX”. Les actionnaires enregistrés recevront une lettre de transmission des Administrateurs nationaux des titres (NSA) avec des instructions sur la manière d’échanger leurs actions pré-consolidation. Les actionnaires non enregistrés doivent contacter leurs intermédiaires pour plus de détails. La lettre de transmission sera disponible sur SEDAR+ et le site Web de l’entreprise.
Adastra Holdings (CSE: XTRX, FSE: D2EP), ein bedeutender Cannabisverarbeiter und -produzent, hat eine vorgeschlagene Aktienkonsolidierung im Verhältnis 10:1 angekündigt, die der Genehmigung der Canadian Securities Exchange (CSE) bedarf. Diese Konsolidierung wird die Anzahl der ausgegebenen und im Umlauf befindlichen Stammaktien von 55.970.547 auf etwa 5.597.055 reduzieren. Proportionale Anpassungen werden für die ausstehenden Optionen vorgenommen, und es werden keine Bruchstücke ausgegeben, da Brüche auf die nächste ganze Zahl gerundet werden. Vorbehaltlich der Genehmigung durch die CSE wird erwartet, dass die konsolidierten Aktien am oder um den 15. Oktober 2024 unter dem Handelssymbol “XTRX” gehandelt werden. Registrierte Aktionäre erhalten ein Übertragungsanschreiben von den National Securities Administrators (NSA) mit Anweisungen, wie sie ihre Vor-Konsolidierungsaktien austauschen können. Nicht registrierte Aktionäre sollten ihre Vermittler für weitere Informationen kontaktieren. Das Übertragungsanschreiben wird auf SEDAR+ und der Unternehmenswebsite verfügbar sein.
Positive
- Share consolidation will reduce the number of issued shares from 55,970,547 to approximately 5,597,055.
- Proportionate adjustments to outstanding options will be made.
Negative
- Shareholders need to follow specific procedures to exchange their pre-consolidation shares, which might be inconvenient for some.
Langley, British Columbia–(Newsfile Corp. – October 9, 2024) – Adastra Holdings Ltd. (CSE: XTRX) (FSE: D2EP) (“Adastra” or the “Company“), a leading cannabis processor and producer of two top Canadian concentrates brands, with a focus on product innovation and commercialization for adult-use and medical markets, is pleased to announce it is seeking approval from the Canadian Securities Exchange (the “CSE“) for the consolidation of the Company’s issued and outstanding common shares (the “Common Shares“) at a ratio of one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares (the “Consolidation“).
The Consolidation will reduce the number of issued and outstanding Common Shares of the Company from 55,970,547 Common Shares to approximately 5,597,055 Common Shares. Proportionate adjustments will be made to the Company’s outstanding options.
No fractional Common Shares will be issued pursuant to the Consolidation. Any fractional Common Share resulting from the Consolidation will be rounded to the nearest whole number of post-Consolidation Common Shares, with any fractional interest representing 0.5 or more Common Shares entitling holders thereof to receive one whole post-Consolidation Common Share. In calculating such fractional interests, all Common Shares registered in the name of each registered shareholder will be aggregated.
Subject to the approval of the Consolidation by the CSE, the Common Shares are expected to begin trading on the CSE on a consolidated basis on or around October 15, 2024 and will continue to trade on the CSE under the trading symbol “XTRX”. New CUSIP and ISIN numbers will be assigned to the Common Shares following the Consolidation.
National Securities Administrators Ltd. (“NSA“), acting as the transfer agent for the Consolidation, has mailed a letter of transmittal to the Company’s registered shareholders in respect of the Consolidation. Registered shareholders will be required to send their certificate(s) representing pre-Consolidation Common Shares of the Company, along with a properly executed letter of transmittal, to NSA in accordance with the instructions provided in the letter of transmittal. Beneficial shareholders (i.e., non-registered shareholders) who hold their Common Shares through an intermediary such as a bank, trust company, securities dealer or broker should note that these intermediaries may have their own procedures for processing the Consolidation which may differ from those described above for registered shareholders. Non-registered shareholders who have questions should contact their intermediary for more information.
A copy of the letter of transmittal will be available on the Company’s profile on SEDAR+ at www.sedarplus.ca, and will also be posted on the Company’s website at www.adastraholdings.ca.
Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Consolidation was approved by way of resolutions passed by the board of directors of the Company. The Company has applied to the CSE for approval of the Consolidation.
About Adastra
Adastra has become one of Canada’s leaders in the supply and manufacturing of ethnobotanical and cannabis products for lawful adult-use. It serves medical markets and engages in forward-looking therapeutic applications. With cannabis concentrate products sold through retailers at more than 2,000 locations across Canada, Adastra’s Phyto Extractions and Endgame Extracts brands are now well established with a growing distribution presence. As a Health Canada licensed facility, the Langley Facility specializes in extraction, distillation and manufacturing of a range of cannabis-derived products. Adastra partners with healthcare professionals and practitioners within the regulated environment to create products suitable for the medical cannabis market, with the ultimate aim of addressing the needs of patients. For more information, visit: www.adastraholdings.ca.
Cautionary Statement Regarding‐Forward‐Looking Information‐
This news release contains forward looking statements and forward looking information within the meaning of applicable securities laws. The use of any of the words “expect”,‐ “anticipate”, “will”, “outlook” and similar expressions are intended to identify forward looking information‐ or statements. More particularly and without limitation, this news release contains forward looking statements and information regarding the expectation that the Consolidation will receive regulatory approval; and the date on which the Common Shares are expected to start trading on the CSE on a consolidated basis.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the risk factors set out in the Company’s management’s discussion and analysis for the twelve months ended December 31, 2023, which‐ is available on the Company’s profile on SEDAR+ at www.sedarplus.ca.
The forward looking statements and information contained in this news release are made as of the date‐hereof and Adastra does not undertake any obligation to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
For additional information, please contact:
(778) 775 5011
info@adastraholdings.ca
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226226
FAQ
What is the share consolidation ratio for Adastra Holdings (CSE: XTRX)?
The share consolidation ratio is 10:1, meaning one post-consolidation share for every ten pre-consolidation shares.
When will Adastra Holdings (CSE: XTRX) shares begin trading on a consolidated basis?
The consolidated shares are expected to begin trading on or around October 15, 2024, subject to CSE approval.
How many shares will Adastra Holdings (CSE: XTRX) have post-consolidation?
Post-consolidation, the number of issued and outstanding shares will be reduced to approximately 5,597,055.
What should Adastra Holdings (CSE: XTRX) registered shareholders do to exchange their shares?
Registered shareholders need to send their pre-consolidation share certificates and a properly executed letter of transmittal to National Securities Administrators (NSA).
Where can Adastra Holdings (CSE: XTRX) shareholders find the letter of transmittal?
The letter of transmittal will be available on the company’s profile on SEDAR+ and the company’s website.
