(via TheNewswire)



 

VANCOUVER, BC –TheNewswire -April 28, 2021 - Astron Connect Inc (“Astron” or the “Company”) (TSXV:AST) today announced that it intends to complete a consolidation of its issued and outstanding common shares (the “Shares”) on the basis of one (1) new Share for every eight (8) currently held Shares (the “Consolidation”). Completion of the Consolidation remains subject to the approval of the TSX Venture Exchange (the “TSXV”).

Pursuant to the Articles of the Company, the Board of Directors (the “Board”) of the Company has approved the Consolidation by way of a Board resolution. The Board believes the Consolidation will enable to the Company to gain increased liquidity and trading volume and broaden the Company’s investor base.

Upon receipt of TSXV approval of the Consolidation, Astron will provide additional details regarding a new CUSIP number for its Shares to distinguish between the pre- and post-consolidated Shares. Astron's name and trading symbol will remain unchanged. Following the completion of the Consolidation, the Company will have approximately 10,437,901 Shares issued and outstanding.

Upon completion of the Consolidation, letters of transmittal describing the details of the Consolidation and the process by which registered shareholders obtain actual share certificates representing the consolidated Shares will be mailed to Astron's registered shareholders. Shareholders who hold their Shares through their broker or other intermediary will not be required to complete and return a letter of transmittal; any pre-consolidation Shares owned by such shareholders will automatically be adjusted as a result of the Consolidation to reflect the applicable number of post-consolidation Shares owned by them. Non-registered shareholders wishing to obtain a copy of the letter of transmittal should contact their brokers or other intermediary, or Astron's transfer agent, TSX Trust Company, after the Consolidation has been implemented.

 

ABOUT ASTRON CONNECT INC.

 

Astron Connect (TSX-V: AST) helps Canadian enterprises in the food and beverage industry break through the noise and bring their products to new international markets in the emerging world. Astron Connect brings Canadian food and beverage companies to the world through its extensive connections and export logistics capabilities in China and emerging markets. Manna Water and Sachiel Water (both Astron brands) supply China and other emerging markets with pure Canadian bottled spring water. For more information, visitwww.astronconnect.com.

 

For more information, please contact:

 

S. Randall Smallbone

President and CEO

Astron Connect Inc.

randalls@astronconnect.com

The TSXV has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Service Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Notice regarding forward looking statements:

This press release may contain “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans” “expects” or “does not expect”, “proposed”, “is expected”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the current beliefs of Astron and is based on information currently available to Astron and on assumptions Astron believes are reasonable. These assumptions include, but are not limited to, management’s assumptions about receiving TSXV approval of the Consolidation and theBoard’s belief that the Consolidation will enable to the Company to gain increased liquidity and trading volume and broaden the Company’s investor base.


Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Astron to be materially different from those expressed or implied by such forward-looking information. Although Astron has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

 

The forward-looking statements contained in this press release represent the expectations of Astron as of the date of this press release and, accordingly, are subject to change after such date. However, Astron expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

       

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