Consolidation of Verisante shares effective

VANCOUVER, BC /ACCESSWIRE/June 23, 2022/ Verisante Technology Inc. (the “Company”) (TSXV: VRS.H) announces that effective June 23, 2022, the common shares of the Company will begin trading on a post-consolidation basis under the new symbol VER.H the NEX table of the TSX-V Exchange. the Company will undertake a consolidation (“Consolidation”) of its outstanding common shares on the basis of one (1) post-consolidation share for every ten (10) pre-consolidation shares. The consolidation has been approved by the directors of the company, in accordance with the company’s articles of association.

As of the date of this press release, the Company has 98,615,888 common shares issued and outstanding. After completion of the Combination, the Company is expected to have approximately 9,861,588 common shares issued and outstanding. The 15,354,182 common shares issuable upon acceptance by the TSX-V Exchange of the Company’s proposed debt and private placement shares announced on June 6, 2022 will also be adjusted proportionately upon completion of the Combination. The Company has no preferred shares, warrants or options outstanding.

A letter of transmittal will be mailed to registered shareholders once the Consolidation becomes effective. The Letter of Transmittal contains instructions on how registered shareholders may exchange their share certificates evidencing their pre-consolidation shares for new share certificates representing the number of post-consolidation shares to which they are entitled.

Beneficial owners holding their shares through a brokerage firm may be subject to different procedures to obtain their shares post-consolidation. If shareholders have any questions in this regard, they are invited to contact their respective brokerage or intermediary.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Company Contact:

Thomas Braun, President and CEO
Verisante Technology, Inc.
Phone: (604) 716-5133
Email: [email protected]

Forward-looking statements:

This release contains forward-looking statements, all of which are subject to market risks and the possibility that the Company may not be able to achieve all of its stated objectives. These statements are made on the basis of current expectations and actual results may differ from those projected due to a number of risks and uncertainties.

THE SOURCE: Verisante Technology, Inc.

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