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Delivra Health Brands Announces Proposed Share Consolidation
Vancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Delivra Health Brands Inc. (TS...
About this update from Delivra Health Brands Inc
[{"type":"text","content":"Delivra Health Brands Announces Proposed Share ConsolidationVancouver, British Columbia--(Newsfile Corp. - January 27, 2025) - Delivra Health Brands Inc. (TSXV: DHB) (OTCQB: DHBUF) (\"Delivra Health\" or the \"Company\") is planning to consolidate the Company's issued and outstanding common shares (the \"Common Shares\") on the basis of one (1) new Common Share for every ten (10) existing Common Shares (the \"Consolidation\"). Each shareholder's percentage ownership in the Company and proportionate voting power will remain unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional Common Shares.Management believes the Consolidation will help facilitate ongoing organic growth while providing the Company with increased flexibility for future corporate initiatives. This proposed Consolidation aims to attract new shareholders aligned with the health and wellness sector and improve the marketability of the Common Shares as a compelling investment opportunity.As a result of the Consolidation, the 312,617,854 Common Shares issued and outstanding prior to the Consolidation will be reduced to approximately 31,261,785 Common Shares. The exercise price of the Company's existing incentive stock options under the Company's 10% fixed share option plan, the number of Common Shares issuable thereunder, and the exercise price and number of Common Shares issuable under any outstanding warrants will be adjusted in accordance with the Consolidation.The Consolidation was approved by the board of directors on January 27, 2025, in accordance with the articles of the Company, but remains subject to the approval of the TSX Venture Exchange (the \"TSXV\"). The effective date of the Consolidation will be determined by the board of directors after all necessary approvals have been obtained. The Company will issue a further news release announcing the effective date of the Consolidation upon receiving TSXV approval. The Company will not be changing its name in conjunction with the Consolidation.About Delivra Health Brands Inc.Helping people take control of their health with alternative wellness solutions is what energizes the Delivra Health team! The Delivra Health portfolio features innovative brands like Dream Water® and LivRelief™, which deliver relief from common everyday issues...