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Contact Image corporation announces proposed one for ten share consolidation
Contact Image corporation announces proposed one for ten share consolidation.
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[{"type":"text","content":"\n\n\n\n\nMONTREAL, Sept. 18 /CNW Telbec/ - Contact Image Corporation (the\n\"Corporation\" or \"Contact Image\") (TSX Venture Exchange: CI) announces that a\nspecial resolution providing for the consolidation of its currently issued and\noutstanding common shares on the basis of one new common share for each\nexisting ten common shares has been approved by its shareholders at the Annual\nand Special Meeting of shareholders held today. Based on the 16,197,606 common\nshares currently issued and outstanding, after the proposed consolidation,\nContact Image will have approximately 1,619,761 common shares issued and\noutstanding. Any fractional shares resulting from this consolidation will be\nrounded-down to the nearest whole share. The Corporation considers that\nwithout a share consolidation, it may be more difficult for the Corporation to\neffect future financings.\nIt is expected that the proposed share consolidation will be completed as\nsoon as the Corporation obtains all the required regulatory approvals. Contact\nImage will not change its name following the proposed share consolidation. The\nshare consolidation is subject to the TSX Venture Exchange approval. Trading\non a consolidated basis is expected to commence following receipt of the\nrequired approvals and mailing of Letters of Transmittal to registered\nshareholders.\n\nAbout Contact Image Corporation\n\nContact Image and its subsidiaries are providers of digital imaging\nproducts and services based in Montreal. Current products and services\ninclude, digital wide-format printing and finishing services, digital\nprocessing and imaging services and traditional photographic processing and\nimaging services. Contact Image and its subsidiaries service target market\nsegments that focus on retail chain stores, businesses, institutions,\nphotography professionals, imaging professionals and, finally, higher-end\nphoto amateurs. Contact Image and its subsidiaries' clients typically seek\nhigher quality prints, promptness of service and a large offering of imaging\nservices.\n\nThe TSX Venture Exchange has neither approved nor accepts any\nresponsibility with respect to the veracity or exactitude of this press\nrelease.\n\n\n","length":2248,"tagName":"div"}]