Mr. Kory Zelickson reports
VEJI ANNOUNCES NEW APPOINTMENT TO BOARD OF DIRECTORS AND PROPOSED SHARE CONSOLIDATION
Veji Holdings Ltd. has added Amar Purewal to the company's board of directors. Mr. Purewal joins Veji's team with a proven record in private and public markets with specific expertise in corporate governance, business development and raising capital.
In particular, Mr. Purewal has experience working with fast-growing companies and managing the portfolios of hospitality and commercial property businesses. Mr. Purewal comes from a commercial lending background where he underwrote, structured and provided over $45-million in debt financings across manufacturing, industrial, commercial farming, research and development, and product development projects with the Royal Bank of Canada. Veji's management team would like to welcome Mr. Purewal to its board and looks forward to pursuing opportunities with Mr. Purewal to drive the best value for stakeholders.
Proposed share consolidation
The company also announces its intention to consolidate its issued share capital on the basis of one new common share for every 10 existing common shares. The company's name and trading symbol will remain the same following the share consolidation. No fractional shares will be issued under the share consolidation and each fractional share will be rounded down to the nearest whole number, without any consideration payable therefor. Each shareholder's percentage ownership in the company and proportional voting power will remain unchanged, except for minor adjustments resulting from the treatment of fractional shares. Outstanding convertible securities of the company, including warrants and options, will be adjusted to account for the share consolidation in accordance with their terms. The company will provide a further update once the effective date of the share consolidation is known.
About Veji Holdings Ltd.
The company is a reporting issuer in Canada and is listed on the Canadian Securities Exchange under the symbol VEJI, and on the OTC under the symbol VEJIF.
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