Axiom Capital Advisors Clarifies Forward Share Split
Calgary, Alberta – TheNewswire - October 2, 2023 – Axiom Capital Advisors Inc. (“ACA” or the “Corporation”) (CSE:ACA) is announcing a clarification to it’s previous press release announcing the Share Split (as defined herein), the Company will forward split its common shares ("Common Shares") on the basis of four (4) new Common Shares for each one (1) Common Share currently outstanding (the "Share Split"). All shareholders of record on October 10, 2023 (the “Record Date”) will be entitled to receive three (3) additional Common Shares pursuant to the Share Split. The Company is targeting October 6, 2023 as the effective date of the Share Split (the “Effective Date”).
The Corporation currently has 6,472,100 Common Shares issued and outstanding. It is expected that, upon the completion of the Share Split, there will be approximately 25,888,400 Common Shares issued and outstanding. The Corporation proposes the Share Split to increase the liquidity and marketability of the Common Shares.
As per Canadian Securities Exchange ("CSE") policy, the share split is being conducted on a "push-out" basis and therefore the Corporation’s CUSIP number will remain the same. DRS statements for the additional shares resulting from the Share Split will be mailed to the shareholders as of the Record Date by the Company’s transfer agent Alliance Trust Company. Shareholders do not need to take any action with respect to the Share Split. The Share Split will not materially affect the percentage ownership in the Company of shareholders even though such ownership will be represented by a larger number of Common Shares. Holders of stock options, Common Share purchase warrants, and broker warrants will be contacted by the Corporation to replace the certificates or agreements representing their securities, where applicable. The Company has made an application to the CSE for the Share Split. The Share Split, as well as the Record Date and Effective Date remains subject to approval by the CSE. The Company will issue an additional news release with more information about the Share Split once additional information becomes available.
ON BEHALF OF THE BOARD OF DIRECTORS
Chief Executive Officer Eric Entz
Head Office 1626 Westmount Road NW, Calgary, Alberta T2N 3M1
Telephone +1 (587) 208 4044
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
Certain information in this news release may constitute "forward-looking" information that involves known and unknown risks, uncertainties, future expectations and other factors which may cause the actual results, performance or achievements of the Corporation or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forwardlooking information. When used in this news release, this information may include words such as "anticipate", "estimate", "may", "will", "expect", "believe", "plan" and other terminology. This information reflects current expectations regarding future events and operating performance and speaks only as of the date of this news release.
Forward-looking statements in this news release may include, but are not limited to, the future plans of the Corporation, the Share Split, the Record Date, the Effective Date, the CSE approval, business plans, objectives and strategy.
Except as required by law, we assume no obligation to update or revise forward-looking information to reflect new events or circumstances. Additional information is available in the Corporation’s Management Discussion and Analysis, which can be found on SEDAR at www.sedar.com.