Business
Winning Brands Reverse Stock Split
Winning Brands Reverse Stock Split.
About this update from Winning Brands Corp.
[{"type":"text","content":"\n\n\n\n\n\n\n\nWinning Brands Reverse Stock Split\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nWinning Brands Reverse Stock Split\n\nPR Newswire\n\nNEW YORK, April 24, 2013\n\n\n\n\n\n\n\n \n\n\n \n \n\n\nNEW YORK, April 24, 2013 /PRNewswire/ -- Winning Brands Corporation (OTC Pink: WNBD) www.WinningBrands.com announces that a reverse split of its common stock will go into effect as of April 25, 2013 on a basis of 1:500. A 90% reduction in the current authorized level of common stock will be implemented by the Winning Brands Board, providing a new lower common share cap of 500 million.\n\n\nThe result of the action will be a reduction in the number of Winning Brands common shares outstanding to 9,996,078 as of April 25th. No fractional shares will be issued. The trading symbol will be WNBDD for 20 days in order to designate the corporate action, following which the symbol will revert to WNBD. The new CUSIP Number will be 975012204. \n\n\nWinning Brands CEO, Eric Lehner, comments further: \"There are two benefits to the company from this action. The first pertains to corporate finance. This share consolidation is a step toward the company's previously announced plan to become registered with the Securities & Exchange Commission by adopting a more conventional share structure and thus providing a more attractive basis for financing the registration related activities. Appointment of auditors registered with the PCAOB (Public Company Accounting Oversight Board) will follow. If SEC registration is obtained, Winning Brands will seek quotation at the OTCQB level of www.OTCMarkets.com with possible dollar volume liquidity advantages for shareholders. The second benefit to Winning Brands is an improved basis to accelerate operational work, including the recruitment of new sales personnel, with the top priority being the hiring of U.S. sales management.\"\n\n\nMost Winning Brands common shareholders do not need to take special steps in order for their holdings to be converted into the new shares, because this will be carried out automatically by FINRA member...