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Benzinga
Benzinga
Business
Fermin Orgambide

Mydecine Announces 1-for-50 Reverse Stock Split

Mydecine

The board of directors of Mydecine Innovations Group Inc. (OTCPK:MYCOF) voted in favor of completing a reverse stock split. With this action, the company will consolidate all issued and outstanding shares on a base of 1-for-50.

According to Mydecine, the consolidation is expected to reduce the number of common shares from 268,515,954 to  5,370,319.

Although not yet approved by the NEO Exchange, the effective date for the consolidation and the announcement of the new CUSIP and ISIN numbers are expected to be completed within the next week.

Photo: Courtesy of Chris Liverani on Unsplash

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