ALUULA Composites Inc. Announces Effective Date of Share Consolidation
March 10, 2025 7:30 AM EDT | Source: ALUULA Composites Inc.
Victoria, British Columbia--(Newsfile Corp. - March 10, 2025) - ALUULA Composites Inc. (TSXV: AUUA) ("ALUULA" or the "Company") announces that, further to its news release dated February 18, 2025, the TSX Venture Exchange (the "TSXV") has approved the consolidation of the Company's common shares (the "Shares"). Effective at the opening of trading on March 12, 2025 (the "Effective Date") the Shares will commence trading on the TSXV on a consolidated basis, with one (1) post-consolidation Share outstanding for every twenty (20) pre-consolidation Shares (the "Consolidation"). The new CUSIP number for the Shares will be 022317309 and the new ISIN number will be CA0223173091. The Company's name and trading symbols will remain unchanged.
As a result of the Consolidation, on the Effective Date, a total of approximately 25,061,562 Shares will be issued and outstanding, subject to adjustments for rounding. No fractional Shares will be issued. The number of post-consolidated Shares to be received will be rounded up to the nearest whole number for fractions of 0.5 or greater or rounded down to the nearest whole number for fractions of less than 0.5.
The Consolidation will affect all shareholders uniformly and will not alter any shareholder's relative interest in the Company's securities, except for any adjustments for fractional Shares. Additionally, the exercise or conversion price and the number of Shares issuable under any of the Company's outstanding convertible instruments will be proportionately adjusted for the Consolidation on the Effective Date.
A letter of transmittal with respect to the Consolidation will be mailed to registered holders with instructions on how to exchange existing DRS statements or share certificate(s) for new DRS statements or share certificate(s). Until surrendered for exchange, on the Effective Date, each DRS statement or share certificate formerly representing pre-Consolidation Shares will be deemed to represent the number of whole post-Consolidation Shares to which the holder is entitled as a result of the Consolidation.
Shareholders who hold Shares of the Company beneficially are expected to have their Shares electronically adjusted by their brokerage firms, banks, trusts or other nominees that hold the Shares for their benefit. Such holders generally do not need to take any action to exchange their pre-Consolidation Shares for post-Consolidation Shares. If you hold your Shares with a bank, broker or other nominee, and if you have questions in this regard, you are encouraged to contact your nominee.
About ALUULA Composites Inc.
ALUULA is an ultra-light, high performance and recycle-ready composite materials brand that enhances the performance of outdoor gear. Proudly owned and manufactured on the Canadian west coast, ALUULA's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA's materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable.
aluula.com | (TSXV: AUUA)
ALUULA's Brand Partners
The term "brand partners" does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA's technology as a brand ingredient in their products.
TSX Venture Exchange
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information in this news release includes statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements, including, but not limited to: the completion of the Consolidation and the timing of the Effective Date. These statements are based on assumptions subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/243789
© 2025 Newsfile Corp. All rights reserved.
