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Pineapple Financial Inc. Announces Proposed Share Consolidation to Strengthen Capital Structure and Support Long-Term Growth
Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Pineapple Financial Inc. (NYSE: PAPL) ("Pineapple" or the "Company"), a tech-enabled mortgage brokerage and fintech platform, today announced that its Board of Directors has approved the submission of a special resolution to shareholders to authorize a consolidation (the "Consolidation") of the Company's issued and outstanding common shares on the basis of between 10 and 20 pre-Consolidation shares for each one post-Consolidation share.The prop
About this update from Pineapple Financial Inc.
[{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - May 13, 2025) - Pineapple Financial Inc. (NYSE: PAPL) ("Pineapple" or the "Company"), a tech-enabled mortgage brokerage and fintech platform, today announced that its Board of Directors has approved the submission of a special resolution to shareholders to authorize a consolidation (the "Consolidation") of the Company's issued and outstanding common shares on the basis of between 10 and 20 pre-Consolidation shares for each one post-Consolidation share.","length":526,"tagName":"p"},{"type":"text","content":"The proposed Consolidation will be presented to shareholders for approval at a special meeting scheduled for June 26, 2025, with a record date set for May 23, 2025.","length":164,"tagName":"p"},{"type":"text","content":""This proposed share consolidation reflects our continued efforts to strengthen our capital structure, enhance our trading profile, and position the Company for future growth," said Shubha Dasgupta, CEO of Pineapple Financial. "As we continue to grow our volume, expand our verticals, and improve operational efficiency, we believe this step supports our long-term commitment to delivering shareholder value."","length":429,"tagName":"p"},{"type":"text","content":"The Consolidation, if approved, is expected to increase the per-share trading price of the Company's common shares, which may improve the Company's ability to attract institutional investors and meet minimum share price requirements for continued listing on the NYSE American exchange. It does not affect any shareholder's proportionate ownership interest or voting rights, except for minor rounding adjustments.","length":424,"tagName":"p"},{"type":"text","content":"Further details regarding the Consolidation and special meeting will be included in the management information circular to be filed and mailed to shareholders in accordance with applicable securities laws.","length":205,"tagName":"p"},{"type":"text","content":"About Pineapple","length":15,"tagName":"p"},{"type":"text","content":"Pineapple is an award-winning fintech and leading Canadian mortgage brokerage network, focusing on both the long-term success of agents and brokers as well as the overall experience of homeowners. With hundreds of brokers within the network, Pineapple creates cutting-edge...