Cannagistics Inc (CNGT)

[TTT]

https://www.sec.gov/Archives/edgar/data/0001304741/000166357721000473/cngt_pre14c.htm




AMENDMENT TO THE CERTIFICATE OF INCORPORATION TO AMEND THE COMPANY NAME AND EFFECT A REVERSE STOCK SPLIT



Overview



The Majority Shareholders have approved an amendment to our Certificate to amend the Company Name and effect a Reverse Stock Split at an exchange ratio in the range of one-for-20 to one for 40 to be determined by the Board in its discretion.



The Reverse Stock Split will have no effect on the par value of our common stock. No fractional shares will be issued in connection with the Reverse Stock Split. The proposed form of amendment to our Certificate to implement the Reverse Stock Split is attached to this Information Statement as Appendix A.



Our common stock is currently quoted on the Pink Open Market under the symbol “CNGT”. On August 23, 2021, the last sale price of our common stock was $0.016 per share. Our Board believes that our relatively low per-share market price of our common stock impairs the acceptability of the common stock to potential investors and certain members of the investing public, including institutional investors.