|By Marketwired .||
|October 19, 2016 05:03 PM EDT|
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/19/16 -- Gstaad Capital Corp. (the "Company") (NEX:GTD.H) announces that its Board of Directors has approved a consolidation of the Company's issued share capital on the basis of two (2) common shares for one (1) new share of the Company. The Company currently has 3,000,000 common shares outstanding and will have 1,500,000 common shares outstanding after completion of the consolidation, subject to rounding up and the elimination of any fractional shares resulting from the share consolidation. The number of outstanding stock options of the Company will similarly be adjusted by the consolidation ratio, and the exercise prices adjusted accordingly.
Concurrently with the proposed consolidation, the Company intends to undertake a non-brokered private placement totalling $150,000. These funds will be raised by the Company issuing 2,500,000 common shares at a price of $0.06 per share, on a post-consolidated basis.
The proceeds of the private placement will be used for general working capital and to fund the acquisition of a Qualifying Transaction. Finder's fees may be payable on a portion of the private placement, in accordance with the policies of the TSX Venture Exchange.
The share consolidation and private placement are subject to the acceptance of the TSX Venture Exchange. The Company will not be changing its name or its trading symbol in conjunction with the proposed consolidation.
On behalf of Gstaad Capital Corp.
President and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
E-mail: [email protected]
Phone: 604 687 7767
Fax: 604 688 9895
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