TORONTO, May 24, 2024
/PRNewswire/ -- Visionary Holdings Inc. ("we", or the "Company")
(NASDAQ: GV), a private education provider with technology of
artificial intelligence and life science on the cutting edge, with
subsidiaries in Canada and market
partners in China, today announced
that it intends to effect a share consolidation of its ordinary
shares at a ratio of one (1) post-split ordinary share for
every fifteen (15) pre-split ordinary shares (the "Share
Consolidation") so that every fifteen (15) shares issued and
outstanding will be combined into one (1) share. Any fractional
share of a shareholder resulting from the Share Consolidation will
be rounded up to the nearest whole number of shares. The Share
Consolidation will become effective at 12:01
a.m. EST on May 29, 2024 (the
"Effective Time").
The Company's ordinary shares will continue to be traded on the
Nasdaq Capital Market ("Nasdaq") under the symbol "GV" and will
begin trading on a post-consolidation adjusted basis when the
market opens on May 29, 2024. The
CUSIP number for the Company's ordinary shares following the Share
Consolidation will be 92838F200.
The Share Consolidation is primarily intended to increase the
Company's per share trading price in order to maintain its listing
on Nasdaq. We believe that the proposed Share Consolidation will
assist the Company in regaining compliance under the Nasdaq Listing
Rules.
The Share Consolidation will reduce the issued and outstanding
number of ordinary shares of the Company from 55,368,883 shares to
approximately 3,691,259 shares.
Shareholders holding their shares in book-entry form or in
"street name" (through a broker, bank or other holder of record)
will have their shares automatically adjusted to reflect the Share
Consolidation. Shareholders of record may direct questions
concerning the Share Consolidation to the Company's transfer
agent, Issuer Direct Corporation.
About Visionary Holdings Inc.
Visionary Holdings Inc. headquartered in Toronto, Canada, a private education provider
with technology of artificial intelligence and life science on the
cutting edge, with subsidiaries in Canada and market partners in China. The Company aims to provide access to
secondary, college, undergraduate and graduate and vocational
education to students in Canada
through technological innovation so that more people can learn,
grow and succeed to their full potential. As a fully integrated
provider of educational programs and services in Canada, the Company has been serving and will
continue to serve both Canadian and international students. For
more information, visit the Company's website at
https://ir.visiongroupca.com/.
Forward-Looking Statements
All statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on the Company's current expectations and projections
about future events that the Company believes may affect its
financial condition, results of operations, business strategy and
financial needs. Investors can identify these forward-looking
statements by words or phrases such as "believes," "expects,"
"anticipates," "estimates," "intends," "would," "continue,"
"should," "may," or similar expressions. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results and encourages investors to
review other factors that may affect its future results in the
Company's reports and in its other filings with the SEC.
For more information, please contact:
Visionary Holdings Inc.
Investor Relations Department
Email: ir@farvision.ca
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SOURCE Visionary Holdings Inc.