PharmaDrug Inc (CSE:PHRX, OTCQB:LMLLF) said it will consolidate its common shares on a seven-to-one basis from October 24, 2023, and that the record date for the consolidation will be October 25, 2023.
The consolidation will reduce the number of issued and outstanding common shares from 360,626,346 to approximately 51,518,049.
“The company's outstanding convertible securities will also be adjusted in accordance with their terms to reflect the share consolidation,” the company added.
The company also said it has appointed Kyle Appleby as its chief financial officer, replacing Keith Li.
Appleby is an experienced public company CFO with a CPA designation and has worked with over 20 public companies across several exchanges, including the Canadian Securities Exchange and the Toronto Stock Exchange, the company added.