Business
VAXIL: SHARE CONSOLIDATION
Not for distribution by US newswire or in United States TORONTO, May 06, 2025 (GLOBE NEWSWIRE...
About this update from Vaxil Bio Ltd.
[{"type":"text","content":"VAXIL: SHARE CONSOLIDATION\n\n\n\n Not for distribution by US newswire or in United States\n \n\n TORONTO, May 06, 2025 (GLOBE NEWSWIRE) -- VAXIL BIO LTD. (“\n \n Vaxil\n \n ” or the “\n \n Company\n \n ”) (TSX VENTURE: VXL), is pleased to make the following updates regarding the Company’s activities.\n \n\n Vaxil announces that it will be consolidating all of the issued and outstanding common shares of the Company (\"\n \n Common Shares\n \n \") on the basis of one (1) post consolidation Common Share for each fifty (50) pre consolidation Common Shares (the \"\n \n Consolidation\n \n \").\n \n\n The Corporation's board of directors set May 15, 2025 as the effective date of the Consolidation. Trading of the Common Shares on a post-Consolidation basis on the TSX Venture Exchange (the \"TSXV\") will commence on or about May 15, 2025. The Company's name and trading symbol will remain unchanged. The Consolidation is subject to the approval of the TSXV.\n \n\n The 136,978,973 Common Shares currently issued and outstanding will be reduced to approximately 2,739,579 Common Shares on a post-Consolidation basis. No fractional shares will be issued. Any fractional interest in Common Shares will be rounded up to the nearest whole Common Share.\n \n\n Letter of transmittals will be mailed to registered Shareholders and registered Shareholders will be required to deposit their share certificate(s), together with the duly completed letter of transmittal, with Computershare Investor Services Inc., the Company's registrar and transfer agent. Non-registered Shareholders holding Common Shares through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Consolidation than those that will be put in place by the Company for registered Shareholders. If Shareholders hold their Common Shares through intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.\n \n\n Outstanding stock options and share purchase warrants will also be adjusted by the Consolidation ratio and the respective exercise prices of outstanding options and share purchase warrants will be adjusted accordingly.\n \n\n\n ABOUT VAXIL\n \n\n\n Vaxil is an Israeli immunotherapy biotech company focused o...