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Consolidation 2 shares in to 1 on July

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Sam Dan Member Level  Tuesday, 07/07/20 09:38:59 AM
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Consolidation 2 shares in to 1 on July 9. Then new management must work their magic.
"COOL)(OTCQX:CLABF)(Frankfurt:LD6, WKN:A14XHT) (the "Company") is pleased to announce that its common shares will begin trading on a post-consolidated basis at the opening of markets on July 9, 2020 under the existing ticker symbol "COOL".
As previously announced, the Company will be consolidating (the "Consolidation") its outstanding common share capital on the basis of two (2) pre-Consolidation shares for every one (1) post-Consolidation share. As of the date of this news release, the Company has 79,081,741 common shares issued and outstanding. Following completion of the Consolidation, it is anticipated that the Company will have approximately 39,540,871 common shares issued and outstanding, not including rounding adjustments for any fractional amounts resulting from the Consolidation. The exercise price and number of common shares issuable upon the exercise of the Company's outstanding options and warrants will be proportionally adjusted upon completion of the Consolidation in accordance with the terms thereof.
The Consolidation will be completed by way of "pushout", without a letter of transmittal. Upon completion of the Consolidation, all pre-Consolidation share certificates will be considered null and void and the Company's shareholders of record will receive Direct Registration Advice (DRS) statements with respect to the number of post-Consolidation shares held by such shareholders of record. Shareholders holding shares through brokers, banks or other intermediaries should consult with their broker, bank or other intermediary with respect to their post-Consolidation shareholdings.
The Company also announces that upon completion of the Consolidation it will grant a series of 2,100,000 incentive stock options (each, an "Option") to certain consultants and employees of the Company. Each Option will vest immediately upon grant, and will be exercisable to acquire a post-Consolidation common share of the Company, at a price of $0.67 per share, for a period of sixty months."

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