(TheNewswire)
Calgary, Canada - TheNewswire –April 14, 2021 – DeepMarkit Corp. ,(" DeepMarkit " or the" Company ") ( TSXV:MKT) (OTC:MKTDF) is pleased to announce that it has completed the previously announcedconsolidation of its Common Shares on the basis of one (1)post-consolidation Common Share for every five (5) pre-consolidationCommon Shares (the " Consolidation "). The Consolidation wasapproved by special resolution of the Company's shareholders on March1, 2021. No name change was completed or will be completed inconnection with the Consolidation.
The Consolidation will take effect on April 16, 2021and the Common Shares are expected to commence trading on the TSXVenture Exchange on a post-consolidation basis beginning at the openof markets on April 16, 2021. Immediately prior to the consolidationthere were 17,745,967 Common Shares outstanding, and it is expectedthat there will be 3,549,193 Common Shares issued and outstandingfollowing the Consolidation, subject to rounding for any fractionalshares. No fractional shares will be issued as a result of theConsolidation and the number of post-consolidation shares to bereceived by a shareholder will be rounded up, in the case of afractional interest that is 0.5 or greater, or rounded down, in thecase of a fractional interest that is less than 0.5, to the nearestwhole number of shares that such holder would otherwise be entitled toreceive upon the implementation of the Consolidation.
Registered shareholders holding share certificates willbe mailed a letter of transmittal advising of the Consolidation andinstructing them to surrender their share certificates representingpre-consolidation shares for a direct registration advice (DRS)representing their post-consolidation shares. Until surrendered forexchange, following the effective date of the Consolidation, whichwill be April 16, 2021, each share certificate formerly representingpre-consolidation shares will be deemed to represent the number ofwhole post-consolidation shares to which the holder is entitled as aresult of the Consolidation.
Holders of shares of the Company who holduncertificated shares (that is shares held in book-entry form and notrepresented by a physical share certificate), either as registeredholders or beneficial owners, will have their existing book-entryaccount(s) electronically adjusted by the Company's transfer agent or,for beneficial shareholders, by their brokerage firms, banks, trustsor other nominees that hold in street name for their benefit. Suchholders do not need to take any additional actions to exchange theirpre-consolidation shares for post-consolidation shares. If you holdyour shares with such a bank, broker or other nominee, and if you havequestions in this regard, you are encouraged to contact yournominee.
AboutDeepMarkit
DeepMarkit is a technology company focused on creating new tools andtechnologies to aid ecommerce transactions for the benefit of bothconsumers and online merchants.
DeepMarkit’s Common Shares are listed on the TSX Venture Exchange,symbol MKT.
For more information, please contact:
President & CEO
Darold H. Parken
Tel: 403-537-0067
Email: dparken@deepmarkit.com
Neither the TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisnews release.
CAUTIONARYSTATEMENT
Statements in this press release may containforward-looking information. Any statements that are contained in thispress release that are not statements of historical fact may be deemedto be forward-looking statements. The reader is cautioned thatassumptions used in the preparation of any forward-looking informationmay prove to be incorrect. Events or circumstances may cause actualresults to differ materially from those predicted, as a result ofnumerous known and unknown risks, uncertainties, and other factors,many of which are beyond the control of DeepMarkit. Factors that couldcause the actual results to differ materially from those inforward-looking statements include, but are not limited to, failure to obtain necessaryregulatory approvals. The reader is cautioned not to place unduereliance on any forward-looking information.
The forward-looking statements contained in thispress release are made as of the date of this press release andDeepMarkit does not undertake any obligation to update publicly or torevise any of the included forward-looking statements, whether as aresult of new information, future events or otherwise, except asrequired by securities law.
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