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CORRECTION: Veritas Farms Announces 1-for-4 Reverse Stock Split -- Shares to Begin Trading as VFRMD
CORRECTION: Veritas Farms Announces 1-for-4 Reverse Stock Split -- Shares to Begin Trading as VFRMD.
About this update from Veritas Farms Inc.
[{"type":"text","content":"\n Fort Lauderdale, Florida, Sept. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- A correction has been issued for the Veritas Farms, Inc. release disseminated today at 4:15 PM ET.  The post-Reverse Split CUSIP Number was incorrectly listed.  The corrected release follows: Veritas Farms, Inc. (OTCQB: VFRM) (“Veritas Farms” or the “Company”), today announced that FINRA has approved a 1-for-4 Reverse Split of the Company’s common stock (the “Reverse Split”).  As a result, every 4 pre-Reverse Split shares of common stock outstanding will automatically combine into one new share of post-Reverse Split common stock without any action on the part of the holders.  Alexander M. Salgado, CEO and co-founder of Veritas Farms, commented, “We are very excited to have taken this positive step to reduce the number of outstanding Veritas Farms common shares which will position the Company for a potential uplisting to a more senior stock exchange in the near future.  We anticipate this strategy will help to enhance liquidity, maximize valuation, and make the Company more attractive to potential investors of all sizes, particularly institutional and international investors.” The Company’s common stock will begin trading on a post-Reverse Split basis at the opening of trading on Friday, September 20, 2019.  In connection therewith, the Company's ticker symbol will be VFRMD for twenty (20) trading days to designate that it is trading on a post-Reverse Split basis.  In addition, our post-Reverse Split common stock will trade under the new CUSIP Number 92347N207. Following the Reverse Split, the number of shares of the Company’s issued and outstanding common stock will have been reduced from 147,737,486 to approximately 36,934,380.  The Reverse Split will also apply to shares of common stock issuable upon the conversion of outstanding warrants and stock options.  No fractional shares will be issued as a result of the Reverse Split.  Any fractional shares resulting from the Reverse Split will be rounded up to the nearest whole share on a per shareholder basis.   The Company expects that shareholders holding VFRM shares at registered brokerage firms or at the transfer agent will have the Reverse Split transaction processed auto...