(TheNewswire)
Toronto, ON — TheNewswire - May 26, 2023 — Hill Street BeverageCompany Inc. ( TSXV:HILL )( OTC:HSEEF ) (" Hill ”, or the “ Company ”) ispleased to make the following announcements.
Name Change to HillIncorporated
The Company announces that further to its May 4, 2023 p ressrelease , effective on or aboutTuesday, May 30, 2023, the Company will change its name from HillStreet Beverage Company Inc. to Hill Incorporated. The Name Changeserves to better reflect the Corporation's evolution from analcohol-free beverage company solely to a company holding a portfolioof bioscience-driven, technology-powered consumer solutions in thealcohol-free beverage and cannabis industries.
Share Consolidation
Further, the Company announces the consolidation of itscommon shares on the basis of 75 pre-consolidation shares for 1post-consolidation share (the “ Share Consolidation ”). The shares areexpected to begin trading on a consolidated basis on the TSX VentureExchange (“ TSXV ”) on Tuesday, May 30, 2023. Following the completion ofthe Share Consolidation, there ?are expected to be 3,244,378post-consolidation shares outstanding.? Shareholder approval ofthe Share Consolidation was approved by shareholders on May 2, 2023. The Share Consolidation is subject to final approval of theTSXV.
Company shareholders will receive 1 post-consolidationshare for every 75 pre-consolidation shares held by them. Nofractional shares will be issued as a result of the ShareConsolidation. Fractional interests will be rounded to the nearestwhole number of shares without any consideration payabletherefor.
A new CUSIP number of 43147B109? replaces the old?CUSIP number of CA43147B1094. ?The Company’s stock tradingsymbol will remain unchanged .
The Share Consolidation is being conducted on a“push-out” basis. Shareholders of the Company, with or ?withouta physical share certificate, do not need to take any action withrespect to the Share Consolidation. DRS statements for thepost-consolidation shares will be mailed on or about June 2, 2023 andexisting share certificates will be cancelled. ?
With respect to the Company’s warrants issued inApril 2021 with an expiration date of April 9, 2024, the new CUSIPnumber is 43147B117 and the new ISIN is CA43147B1177. No action isrequired by existing warrantholders as a new warrant confirmation willbe sent out.
The Board of Directors of the Company has concludedthat the Share Consolidation is in the best interests of Shareholdersas it could lead to increased interest in the Company’s shares by awider audience of potential investors, and may result in an increasein the trading volume and liquidity of its shares.
About Hill (TSXV: HILL) / ( OTCQB:HSEEF )
Hill is a progressive innovation company that utilizesnew technologies to provide innovative cannabis solutions andnon-alcoholic beverage products globally. We are pioneering the spacewhere craft consumer products meet bioscience by leveraging our deepCPG expertise to commercialize leading-edge technologies to craftsuperior consumer products. We are currently developing the platformfor North American distribution around our rights to use LexariaBioscience Corp.’s ground-breaking DehydraTECH patent portfolio forproduct development, licensing and B2B sales of cannabisingredients.
For more information on our business activities visit www.hillincorporated.com , tolearn more about our DehydraTECH cannabis biodelivery technology, goto www.dehydratech-thc.com , orto check out Hill Street Beverage’s award-winning alcohol-free wineline-up and order product to be delivered straight to your home, go to www.hillstreetbeverages.com .
If you wish to sign up for the Hill mailing list, click HERE .
For more information:
Matthew Jewell, Chief Financial Officer
matthew@hillstreetbevco.com
604-609-6154
FORWARD-LOOKING STATEMENTS
Statements in this press release may containforward-looking information. Any statements in this press release thatare not statements of historical fact may be deemed to beforward-looking statements. Forward-looking statements are oftenidentified by terms such as “may”, “should”, “would”,“anticipate”, “expects”, and similar expressions. The readeris cautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances, such as future availability of capital on favourableterms, may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this pressrelease are expressly qualified by this cautionary statement. Theforward-looking statements contained in this press release are made asof the date of this press release. The Company does not undertake anyobligation to update publicly or to revise any of the includedforward-looking statements, whether as a result of new information,future events or otherwise, except as required by securitieslaw.
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
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