The Shares will continue to be listed on the TSX-V under the symbol “DVG”, and the Shares are expected to begin trading on a post-Consolidation basis on the TSX-V on or about
As a result of the Consolidation, the 186,298,848 Shares issued and outstanding prior to the Consolidation have been reduced to approximately 18,629,885 Shares. Where the Consolidation would otherwise result in a shareholder being entitled to a fractional Share, the number of post-Consolidation Shares issued to such shareholder shall be rounded up to the nearest whole number of Shares.
The Company’s transfer agent, Computershare, will act as the exchange agent for the Consolidation. In connection with the Consolidation, Computershare has sent a letter of transmittal to registered shareholders which will enable them to exchange their old share certificates for new share certificates, or alternatively, a Direct Registration System (“DRS”) Advice/Statement, representing the number of new post-Consolidation Shares they hold, in accordance with the instructions provided in the letter of transmittal. Registered shareholders will be able to obtain additional copies of the letter of transmittal through Computershare. 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.
Following the Consolidation, the Company also received final approval from the TSX-V for the previously announced restructuring of its existing debentures. The restructuring included the conversion of 75% of the existing debenture’s principal amount outstanding, or CAD
Certain "related parties" (as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101")) of the Company own approximately
The post-consolidation shares have been listed for trading on the TSX-V and are anticipated to begin trading at the open of markets on or about
For Further Information:
ABOUT
Headquartered in
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including, without limitation, statements pertaining to the date of anticipated trading following the Consolidation. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company may, as considered necessary in the circumstances, update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the Company undertakes no obligation to update or revise any forward-looking statements, except as required by applicable securities laws.
Neither the
(Not for dissemination in
2021 GlobeNewswire, Inc., source