LACHENAIE, QC,
June 20, 2014 /CNW Telbec/ - Capital
Pro-Égaux Inc. (the "Company") (NEX: CPE.H) today announced a
10-for-1 consolidation of its common shares traded on NEX,
effective June 20, 2014 (the
"Effective Date"). The purpose of the consolidation is to
increase the share price and decrease the number of issued and
outstanding common shares.
The share consolidation was approved by the
Company's Board of Directors on May 13,
2014. The Company's consolidated common shares are
expected to begin trading on NEX when the market opens on
June 20, 2014.
Each ten (10) common shares issued and
outstanding immediately prior to June 20,
2014, will automatically be reclassified, without any action
of the holder thereof, into one common share. The proposed
share consolidation will affect all of the Company's common shares
outstanding immediately prior to the market opening on June 20, 2014. As a result of the share
consolidation, the number of issued and outstanding common shares
will be reduced from 41,950,772 to 4,195,080.
No fractional shares will be issued as a result
of the share consolidation. Fractional interest of 0.5 or
greater will be rounded up to the nearest whole number of shares
and fractional interest of less than 0.5 will be rounded down to
the nearest whole number of shares. Registered shareholders of the
Company will be receiving a letter of transmittal from the
Company's transfer agent, Computershare Investor Services Inc., as
soon as practicable after the Effective Date. The letter of
transmittal will enable registered shareholders to exchange their
old share certificate representing pre-consolidation common shares
for new share certificates representing the post-consolidation
common shares. Until surrendered, each share certificate
representing pre-consolidation common shares will be deemed for all
purposes to represent the number of whole post-consolidation common
shares to which the holder is entitled as a result of the
consolidation.
Stockholder who hold their shares in brokerage
accounts or "street name" are not required to take any action to
effect the exchange of their shares.
In addition, the Company announced that pursuant
to a Board of Directors resolution passed on May 13, 2014, all incentive stock options
(representing a total of 3,876,000 options on a pre-consolidation
basis) issued prior to the share consolidation have been
surrendered for cancellation.
Caution regarding forward-looking statements
This news release contains certain
forward-looking statements regarding the Company's expectation of
future events, including potential claims and legal proceedings.
Such expectations are based on certain assumptions based on
currently available information. If these assumptions prove
incorrect, actual results may differ materially from those
contemplated by the forward-looking statements contained in this
press release. Factors that could lead actual results to differ
include, amongst others, factors that may impact claims and legal
proceedings, such as interpretation of factual matters, time and
money involved in undertaking legal proceedings, uncertainty as to
the final result and other risks. The Company disclaims any
intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, other than as required by securities
laws.
About Pro-Égaux Inc.
Pro-Égaux through its wholly owned subsidiary,
Technique d'usinage Sinlab Inc., is a company based in Lachenaie, Quebec, specializing mainly in the
conception and design of titanium products to be used in the dental
prosthesis restoration industry.
Neither NEX, the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of NEX and the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Capital Pro-Egaux Inc.