Intema Solutions Inc. (“Intema” or the “Corporation”) (TSXV: ITM.H, OTCMKTS: ITMZF), developer of eflyermaker.com, announces that it is proceeding with the previously-announced consolidation of its outstanding common shares on the basis of one (1) post-consolidation common share for each two (2) pre-consolidation common shares, effective as of September 4, 2019.
Intema’s common shares are scheduled to begin trading on a post-consolidation basis on the NEX board of the TSX Venture Exchange at market open on September 4, 2019. There will be no change to the existing ticker symbol.
Following the consolidation, the 86,594,924 common shares outstanding of the Corporation will be reduced to approximately 43,297,462 common shares outstanding (trading under the new CUSIP number 45824E207). No fractional common shares will be issued upon the consolidation and all fractions of post-consolidation common shares shall be rounded up.
A letter of transmittal has been mailed to all registered shareholders with instructions on how to exchange their existing share certificate for a new share certificate or Direct Registration (DRS) Statement. Shareholders can obtain a copy of the letter of transmittal by contacting AST Trust Company at (800) 387-0825 or by email at email@example.com. No action is required from shareholders who hold their shares in a broker or depository’s name.
All convertible securities issued by the Corporation will be adjusted in accordance with the 1:2 ratio, in quantity and in price, on the effective date. Holders of certificates representing convertible securities may have their certificates exchanged by returning them to the Corporation.
Conversion of special warrants
On September 4, 2019, Intema will also proceed with the conversion of the special warrants that were issued pursuant to the $750,000 private placement completed on March 29, 2019, into post-consolidation common shares and warrants of the Corporation. As a result of the conversion, the Corporation will issue an additional 15 million common shares and 15 million warrants, each warrant entitling the holder to purchase an additional common share at $0.05 per share until March 29, 2020.
Following the consolidation of its shares and the conversion of the special warrants, the Corporation will have approximately 58,297,462 common shares outstanding.
About Intema Solutions Inc.
Intema’s mission is to be the world’s premier digital marketing platform. The Corporation has been simplifying and optimizing the online marketing activities of medium and large companies through innovative technologies and cutting-edge expertise for over 20 years. A Canadian leader in permission-based email marketing, Intema provides a wide range of products and services, including AI predictive marketing and SMS marketing, as well as related professional services. For more information, please visit our corporate website at intema.com and our product websites eflyermaker.com and matcheranalytics.com.
This press release may contain “forward-looking statements”. All statements other than statements of historical facts included in this press release, including, without limitation, those regarding the projected financial performance of the Corporation; the expected development of the Corporation’s business and projects; execution of the Corporation’s vision and growth strategy; sources and availability of financing for the Corporation’s projects; renewal of the Corporation’s current customer, supplier and other material agreements; and future liquidity, working capital, and capital requirements, are forward-looking statements. Although the forward-looking statements in this press release are based upon what management of the Corporation believes are reasonable assumptions, there can be no assurance that they will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Corporation undertakes no obligation to update forward-looking statements except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.