TORONTO, ONTARIO--(Marketwired - Sept. 3, 2013) - VoodooVox Inc. (CNSX:VVX) ("VoodooVox" or the "Company"), is pleased to announced that it has completed the conversion (the "Conversion") of approximately 95.7% of the outstanding debentures of the Company (the "Debentures") (including all interest accrued and payable thereon), not including certain short term promissory notes and certain secured convertible debentures from strategic investors where the majority of the principal amount may be repaid by the Corporation through the provision of certain services to the holder. Effective August 30, 2013, an aggregate principal amount of $11,875,439 of Debentures and an aggregate of $1,366,352 of interest thereon was converted into an aggregate of 2,648,358,244 common shares ("Common Shares") of the Company.
As further disclosed in the Company's press release dated August 29, 2013, effective September 4, 2013, the Common Shares shall be consolidated on a 50:1 basis (the "Consolidation"). As a result of the Conversion there are currently 2,861,720,365 Common Shares issued and outstanding and, effective post-Consolidation, there will be approximately 57,234,407 Common Shares issued and outstanding.
The shareholders of the Company approved the Conversion and the Consolidation at the annual and special meeting of shareholders held on June 14, 2013. Further details regarding the Conversion and the Consolidation are contained in the Management Information Circular of the Company dated May 13, 2013, which has been filed on SEDAR at www.sedar.com.
About VoodooVox Inc.
VoodooVox processes billions of advertising transactions for a marquee list of global clients and partners in 11 countries. The Company's proprietary analytics solution, utilizing big data aggregated via mobile and traditional ad campaigns, enables advertisers to convert high quality consumer leads.
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