The Common Shares are expected to commence trading on the Toronto Stock Exchange on a post-consolidation basis on November 18, 2021.
The board of directors of Valens believes the Consolidation will result in a number of potential benefits to Valens, particularly in connection with the Company’s application for a secondary listing of the Common Shares on Nasdaq.
The Consolidation will not affect any Shareholder’s percentage ownership in the Company other than by the minimal effect of the aforementioned elimination of fractional Common Shares, even though such ownership will be represented by a smaller number of Common Shares.
The Company will shortly mail a letter of transmittal at the address specified in the Letter of Transmittal, together with their share certificates for the pre-Consolidation Common Shares, in order to receive share certificates for the relevant number of post-Consolidation Common Shares to which they are entitled to receive.
Through Valens Labs, Valens is setting the standard in cannabis testing and research and development with Canada’s only ISO17025 accredited analytical services lab, named The Centre of Excellence in Plant-Based Science by partner and scientific world leader Thermo Fisher Scientific.