(Photo via Pixabay)
This morning, the CSE issued a bulletin announcing the consolidation of shares for Kaneh Bosm Biotechnlogoy Inc. (CSE:KBB) (FRA:8K5).
The reverse-split will be on the basis of one post-consolidation share for every two pre-consolidation common shares. Shares of Kaneh Bosm will begin trading on a consolidated basis on Wednesday May 17th, 2017.
According to the release, there will be no fractional shares issued, and any fraction will be rounded to the nearest whole number. This will amount to a major reduction in shares outstanding.
The name and symbol of Kaneh Bosm shares will not change, however the shares will have a new CUSIP number.
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Disclaimer: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.