Mr. Alex Blodgett reports
CHINOOK PROPOSES SHARE SPLIT AND RETAINS MARKET MAKING SERVICES
Chinook Tyee Industry Ltd. has proposed a three-for-one share split of its issued and outstanding common shares in order to enhance the liquidity and encourage a wider distribution of the company's common shares. The share split is subject to the approval of both company shareholders at its annual general and special shareholders meeting to be held on Dec. 5, 2018, and the TSX Venture Exchange.
Upon completion of the share split, the company will have 10,217,796 postsplit fully diluted common shares outstanding. The company currently has 3,405,932 presplit fully diluted common shares outstanding.
The company also announces that it has, subject to regulatory approval, retained Venture Liquidity Providers Inc. (VLP) to initiate market-making services to provide assistance in maintaining an orderly trading market for the company's common shares.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws. For its services, VLP and the company have entered into a yearly contract for a monthly fee of $5,000, which can be terminated at any time by either party. The company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the company to VLP is for services only.
About Chinook Tyee Industry Ltd.
Chinook Tyee is a TSX Venture Exchange-listed holding company with two European subsidiaries: AMP Alternative Medical Products GmbH, a German private company focused on providing medical cannabis formulations and dose delivery systems for German patients, with offices in Berlin and Erfurt, Germany; and Mercury Partners & Company PLC, a Maltese public liability investment holding company with an office in Valletta, Malta.
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