Input Capital Corp. Announces Name Change and Share Consolidation
REGINA, SK, Sept. 14, 2021 /CNW/ - Input Capital Corp. ("Input" or the "Company) (TSXV: INP) (US: INPCF) is pleased to announce that it intends to change its name from "Input Capital Corp." to "SSC Security Services Corp." (the "Name Change") and to consolidate its common shares on basis of one (1) post-consolidation common share for three (3) pre-consolidation common shares (the "Share Consolidation"). The Company currently has 60,864,855 common shares issued and outstanding. Following the Share Consolidation, the Company will have approximately 20,288,285 common shares issued and outstanding prior to rounding for fractional shares. Completion of the Share Consolidation and Name Change are subject to approval by the TSX Venture Exchange (the "TSXV").
Upon completion of the Share Consolidation and Name Change, a letter of transmittal will be sent by mail to registered shareholders advising that the Share Consolidation and Name Change have taken effect. The letter of transmittal will contain instructions on how registered shareholders can exchange their share certificates or Direct Registration System (DRS) statements evidencing their pre-consolidated common shares for new share certificates or new DRS statements representing the number of post-consolidated common shares to which they are entitled. No action is required by non-registered shareholders (shareholders who hold their shares through an intermediary) to effect the Share Consolidation and Name Change. Non-registered shareholders should consult with their broker for further information.
The Company's common shares are expected to begin trading on the TSXV on a post-Share Consolidation basis after the TSXV issues its final bulletin advising of the effective date.
The Share Consolidation and Name Change was approved by the shareholders of the Company on August 9, 2021 and subsequently by the board of directors of the Company on September 13, 2021. For further information on the Name Change and Share Consolidation, please refer to the Company's information circular dated June 25, 2021, available on SEDAR at www.sedar.com.
On August 17, 2021, the Company announced a cash dividend of $0.01 per common share for the quarter ending September 30, 2021. The dividend is payable on October 15, 2021 to shareholders of record on September 30, 2021. Subject to approval of the TSXV, the Name Change and Share Consolidation will occur on or after October 1, 2021, thereby not impacting the declaration and payment of the Company's September 30th dividend. The Company plans to maintain its dividend at the current level once the Share Consolidation becomes effective, resulting in a quarterly dividend of $0.03 per post-consolidation common share ($0.12 annualized).
Input was founded as an agriculture commodity streaming company providing several flexible and competitive forms of financing which help western Canadian farmers solve working capital, mortgage finance and canola marketing challenges and improve the financial position of their farms. On February 1, 2021, Input acquired SRG Security Resource Group Inc. as a platform for growth in the cyber and physical security business in Canada. For more information, please visit www.inputcapital.com.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This release includes forward-looking statements regarding Input and its business. Such statements are based on the current expectations and views of future events of Input's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Input, including risks regarding the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of Input. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Input undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Input Capital Corp.