Spyder Cannabis Inc, an established Canadian cannabis and vape retailer, says its issued and outstanding common shares have started trading on a post-consolidation basis on the TSX Venture Exchange.
The shares commenced trading today (September 17) and recently traded at $0.20 each.
Last month, the company announced that its shares would be consolidated on the basis of one post-consolidation share for five pre-consolidation shares (share consolidation).
READ: Spyder Cannabis says subsidiary has won Retail Store Authorization for cannabis dispensary in Ontario
Spyder said the share consolidation has reduced the number of issued and outstanding shares from 74,048,157 to about 14,809,631.
A letter of transmittal was sent by mail to registered shareholders advising that the share consolidation has taken effect and contains instructions on how registered shareholders can exchange their share certificates or Direct Registration System (DRS) statements evidencing their pre-consolidation shares for new share certificates or new DRS statements representing the number of post-consolidation shares to which they are entitled.
Spyder is an established cannabis and vape retailer that owns and operates two licensed dispensaries under the brand SPDR Cannabis in Ontario and 28 vape retail locations across Ontario under the retail brands 180 Smoke and Spyder Vapes. 180 Smoke is a leading omnichannel Canadian vape retailer with a strong e-commerce presence and over 230,000 registered customers across its B2C channel.
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