Mr. Robert Eadie reports
YELLOW STEM CONSOLIDATES ITS SHARE CAPITAL
Further to its news release of April 14, 2023, Yellow Stem Tech Inc. has provided the following update:
Consolidation: Effective at the opening of trading on Monday, May 1, 2023, the shares of the company will commence trading on the Canadian Securities Exchange on a consolidated basis, with one new common share being issued for every two preconsolidated shares.
As a result of the consolidation, on the effective date, a total of 26,100,751 common shares will be issued and outstanding, subject to adjustment for fractional shares, with 6,247,500 outstanding warrants. No fractional shares will be issued. A new Cusip number has been issued, being 98561L207, and the trading symbol remains as YY.
Debt settlement: The company also announces that further to the debt settlement as reported on April 14, 2023, it will be issuing 4,522,700 postconsolidated shares at a postconsolidated price of 10 cents per share, settling the outstanding debt to two insiders (see news release of April 14, 2023, for further particulars on the debt settlement).
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