(via TheNewswire)
The Company’s common stock will begin trading on a reverse stock split-adjusted basis at the opening of the market on
At the effective time of the reverse split, every 190 of the Company’s common shares will automatically be combined into one issued and outstanding common share without any change in the par value per share. Fractional shares have not been issued in connection with the reverse stock split. All fractional shares were rounded up to the next whole share. The reverse stock split affected all stockholders uniformly and did not alter any stockholder’s relative interest in the Company’s equity securities, except for any adjustments for fractional shares. In addition, proportionate adjustments have been made to the number of shares underlying, and the exercise or conversion prices of, the Company’s outstanding common share purchase warrants, and to the number of shares of common stock issuable under the Company’s equity incentive plans.
The reverse stock split reduced the number of issued and outstanding shares of the Company’s common stock from 147,737,748 to approximately 777,641.
About
BYND Cannasoft owns the patent-pending intellectual property for the EZ-G device. This therapeutic device uses proprietary software to regulate the flow of low concentrations of CBD oil, hemp seed oil, and other natural oils into the soft tissues of the female reproductive system to potentially treat a wide variety of women's health issues. The EZ-G device includes technological advancements as a sex toy with a more realistic experience and the prototype utilizes sensors to determine what enhances the users' pleasure. The user can control thedevice through a Bluetooth app installed on a smartphone or other portable device. The data will be transmitted and received from the device to and from the secure cloud using artificial intelligence (AI). The data is combined with other antonymic user preferences to improve its operation by increasing sexual satisfaction. Commercialization of the EZ-G device is subject to receipt of regulatory approvals.
For further information please refer to information available on the Company’s website: www.cannasoft-crm.com, and on SEDAR+: www.sedarplus.ca.
Gabi Kabazo Chief Financial Officer Tel: (604) 833-6820 e‐mail: ir@cannasoft-crm.com
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements” within the meaning of Section 27A of the
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual events or developments may differ materially from those in forward-looking statements. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such statements reflect the Company's current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including future financial performance, unanticipated regulatory requests and delays, final patents approval, and those factors discussed in filings made by the company with the Canadian securities regulatory authorities, including (without limitation) in the company's management's discussion and analysis for the year ended
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