New Age starts distributing NHS shares to holders
2017-08-21 09:01 ET – News Release
Mr. Carman Parente reports
NEW AGE FARM SPINS OUT SHARES OF NHS INDUSTRIES LTD. TO ITS SHAREHOLDERS
New Age Farm Inc. is providing this update regarding the plan of arrangement between New Age Farm and NHS Industries Ltd. As previously reported on November 10, 2016 and December 5, 2016, the shareholders of the Company approved the Arrangement and the Company set the share distribution record date at November 30, 2016 (the “Share Distribution Record Date”). As of the Share Distribution Record Date, New Age Farm has 105,573,317 common shares issued and outstanding.
Distribution of NHS Shares to New Age Farm Shareholders
New Age Farm and NHS have each instructed their respective transfer agents to begin the process of distributing the NHS Shares to New Age Farm Shareholders. The information in this news release is for the benefit of all the New Age Farm shareholders, and most particularly those who are entitled to receive NHS Shares.
New Age Farm shareholders entitled to NHS Shares do not need to take any action.
Those shareholders who held shares in New Age Farm (the “New Age Farm Shares”) as of the close of business on November 30, 2016 will automatically receive shares of NHS. Each New Age Farm shareholder will receive from NHS the number of common shares (the “NHS Shares”) equal to the issued and outstanding New Age Farm Shares held by the shareholder as of the Share Distribution Record Date, multiplied by a conversion factor (the “Conversion Factor”).
New Age Farm shares will not be affected in any way by the spin out of the NHS shares.
After the spin out of the NHS Shares, the New Age Farm Shares will be identical in every respect to the shareholders’ current New Age Farm Shares. As of the Share Distribution Record Date, each New Age Farm shareholder of record will continue to hold that number of common shares in the equity of New Age Farm held by the shareholder prior to the Arrangement.
New Age Farm shareholders will each receive their pro-rata share of NHS Shares
Based on the issued and outstanding shares in each of New Age Farm and NHS as of the Share Distribution Record Date, the Conversion Factor is 0.065195. This means that for each New Age Farm Share a shareholder owned as of the Share Distribution Record Date, he or she will receive 0.065195 shares of NHS. No fractional shares will be issued. NHS shares have a unique identifying CUSIP number assigned to them; it is 62914H107.
Remember, New Age Farm Shareholders do not need to take any action to receive NHS Shares.
No action is required on the part of the New Age Farm shareholders. If a New Age Farm shareholder is entitled to NHS Shares they will be sent in one of two ways: 1) the NHS Shares will be credited directly to the shareholder’s brokerage account; or 2) the NHS shares will be sent directly by mail of a certificate to the shareholder’s mailing address currently on file with New Age Farm. Most shareholders will receive their NHS Shares into their brokerage accounts.
New Age Farm shareholders can expect to receive their NHS Shares around the beginning of September.
Carman Parente, President and CEO of New Age Farm, commented: “We are pleased to be able to finish the spin out process and fulfill our commitment to the New Age Farm shareholders who have been waiting for the NHS Shares to be released. This is a milestone step toward the listing of the NHS Shares on the CSE. Our application has been submitted to the exchange and the review of our preliminary prospectus by the securities commission is progressing. We hope to have further news for you in this regard very soon. Your NHS Shares represent new value in the New Age Farm business model and we will be announcing more news regarding the NHS property and our plans for it in the near future. Once again, we must sincerely thank our shareholders and other stakeholders for their continued support. Thank you.”
Further Information about the Spin Out of NHS Shares
New Age Farm Shareholders who have questions regarding this process should first visit New Age Farm’s website where a list of frequently asked questions (FAQ’s) has been provided. If the answer to your question is not there, please contact the Company directly at 1-888-871-3936. The Company’s Corporate Secretary can answer your questions about the distribution of NHS Shares.
We seek Safe Harbor.
© 2017 Canjex Publishing Ltd. All rights reserved.
Disclaimer
© 2010 Junior Gold Report and TechMoney360
Junior Gold Report and TechMoney360 Newsletter: Junior Gold Report’s and Tech Money 360’s Newsletter is published as a copyright publication of Junior Gold Report (JGR) and TechMoney360 (TM360). No Guarantee as to Content: Although JGR/TM360 attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. It may contain errors and you should not make any investment decisions based on what you have read on here. JGR/TM360, its associates, authors, and affiliates are not responsible for errors or omissions. By accessing the site and receiving this email, you accept and agree to be bound by and comply with the terms and conditions as set out herein. If you do not accept and agree to the terms you should not use the Junior Gold Report and TechMoney360 sites or accept this email. Consideration for Services: JGR/TM360, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in the featured companies, as well as sponsored companies which compensate JGR/TM360 as such our opinions are biased. We may hold potions in and trade these stocks of the companies we profile and as such our opinions are biased. JGR/TM360 and its’ owner and affiliates/associates may buy/sell and trade the featured companies from time to time. JGR/TM360 has been paid by the companies. Thus, multiple conflicts of interest exist. Therefore, information provided here within should not be construed as a financial analysis but rather as an advertisement. Conduct your own due diligence: The author’s views and opinions regarding the companies featured in report(s) are his/her own views and are based on information that he/she has researched independently and has received, which the author assumes to be reliable. You should never base any buying/selling/trading decisions off of our emails, newsletter, website, videos or any of our published materials. JGR/TM360 aims to provide information and often stock ideas but are by no means recommendations. The ideas and companies featured are highly speculative and you could lose your entire investment – consult a licensed financial advisor if you are considering investing in any of the featured companies. Subscribers/readers are encouraged to conduct their own research and due diligence. The companies mentioned are high risk and considered penny stocks that contain a high risk of volatility, therefore consult your investment advisor and do your own due diligence before purchasing. Never base any investment decision on information contained from our emails, newsletter, website, videos or any of our published materials. No Offer to Sell Securities: JGR/TM360 is not a registered broker dealer, investment advisor, financial analyst, stock picker, investment banker or other investment professional. JGR/TM360 is intended for informational, educational and research purposes only. It is not to be considered as investment advice. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR/TM360 may contain links to related websites for stock quotes, charts, etc. JGR/TM360 is not responsible for the content of or the privacy practices of these sites. Information contained herein was extracted from public filings, profiled company websites, and other publicly available sources deemed reliable. Information in this report was taken on or before writing and dissemination and may not be updated. Do you own due diligence as information and events can and do change. Published reports may reference company websites or link to company websites and we disclaim and responsibility for the content and accuracy of any such information or website. Release of Liability: By reading and/or watching videos by JGR/TM360, you agree to hold JGR/TM360, its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.
Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by the use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report/TechMoney360 does not take responsibility for the accuracy of forward looking statements and advises the reader to perform their own due diligence on forward looking numbers or statements.