MONTREAL, QUEBEC--(Marketwired - Jan. 31, 2017) - Genius Properties Ltd. (CSE:GNI)(CSE:GNI.CN) ("Genius" or the "Corporation") is pleased to announce that further to its previous news release of January 20, 2017, the Genius common shares will commence trading on the Canadian Securities Exchange on February 1, 2017 on a consolidated basis of one (1) new post-consolidation common share for every five (5) pre-consolidation common shares (the "Consolidation"). As a result of the Consolidation, the Company's common shares will be reduced to 18,839,082. No fractional shares will be issued as a result of the Consolidation. Genius' name and trading symbol remain unchanged.
Registered shareholders will be sent a transmittal letter from Genius' transfer agent, Computershare Investor Services Inc. in due course. The letter of transmittal will contain instructions on how certificate(s) representing pre-consolidation shares may be surrendered to the transfer agent in exchange for new share certificates representing the number of post-consolidation common shares to which the shareholder is entitled. The Board of Directors believes that the Consolidation will be beneficial to the Company in that it is expected to, among other things, provide the Company with greater flexibility in attracting financing.
About Genius Properties
Genius is a Canadian mineral exploration company focused on developing projects with some of the world's most critical metals and minerals for use in various industries including in particular, batteries for storing electrical energy and the raw materials essential for Lithium-ion battery production.
Additional information about genius and its exploration projects can be found at www.geniusproperties.ca.
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Corporation, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
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