Braingrid Limited Announces Completion of Share Consolidation
TORONTO, Nov. 13, 2020 (GLOBE NEWSWIRE) — Braingrid Limited (CSE: BGRD) (“Braingrid” or the “Company”), is pleased to announce that it has completed its previously announced consolidation (the “Consolidation”) of its common shares (“Common Shares”) on the basis of 100 pre-Consolidation Common Shares for one (1) post-Consolidation Common Share.
Following completion of the Consolidation, the Company now has approximately 1,388,419 Common Shares issued and outstanding. The Common Shares commenced trading on the Canadian Securities Exchange (the “CSE”) on a consolidated basis at the opening of markets on November 13, 2020 under its current CSE trading symbol, BGRD.Letters of transmittal are being mailed to the registered shareholders of the Common Shares to use to exchange their pre-Consolidation Common Shares for post-Consolidation Common Shares. Shareholders who hold their shares through a broker or other intermediary and do not have actual share certificates registered in their name will not be required to complete and return a letter of transmittal. Any pre-Consolidation Common Shares owned by such shareholders are automatically adjusted as a result of the Consolidation.For further information regarding the Consolidation, please see the Company’s press release issued on November 6, 2020.About Braingrid LimitedBraingrid is a global technology company committed to the best interests of the precision agriculture industry for the long term. We provide valuable grow analytics by capturing real-time data using our technology platform to increase revenues, reduce costs, risks and improve yield – making it easier for the grower to operate efficiently and effectively. Braingrid is listed on the CSE under the symbol BGRD.The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.Media Contact:Braingrid Limited
Chief Financial Officer