Mr. Tony Gill reports
INNOVATIVE PROCEEDS TO CONSOLIDATE ITS SHARES
Innovative Properties Inc. will proceed with a consolidation of its share capital on the ratio of one new share for three old shares, as per majority shareholder approval.
The company's transfer agent, Valiant Trust, will send out notices together with a transmittal letter to all of its shareholders as at Sept. 15, 2014.
Currently, a total of 19,244,891 common shares in the capital of the company are issued and outstanding. A total of 6,414,964 common shares of the company will be issued and outstanding following the proposed consolidation, assuming no other changes in the issued capital. Any fractional share remaining after giving effect to the aforementioned consolidation that is less than one-half of one share shall be deemed to be cancelled, and each fractional share that is at least one-half of one share shall be deemed to be changed to one whole share.
The effective date of the consolidation will be announced in a further press release.
The consolidation is subject to Canadian Securities Exchange acceptance.
We seek Safe Harbor.
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