Input Capital Corp. Announces Effective Date for Name Change and Share Consolidation
REGINA, SK, Sept. 29, 2021 /CNW/ - Input Capital Corp. ("Input" or the "Company) (TSXV: INP) (US: INPCF) is pleased to announce effective Friday, October 1, 2021 (the "Effective Date") the Company will implement the previously announced name change from "Input Capital Corp." to "SSC Security Services Corp." (the "Name Change") and share consolidation on basis of one (1) post-consolidation common share for three (3) pre-consolidation common shares (the "Share Consolidation"). The Company has received approval of the Name Change and Share Consolidation from the TSX Venture Exchange (the "TSXV").
Following the Name Change and Share Consolidation, the common shares are scheduled to begin trading on a post-consolidation basis at market open on October 1, 2021 under the stock symbol "SECU". The new CUSIP number will be 85236T103 and the new ISIN number will be CA85236T1030. Following the Share Consolidation, the Company will have approximately 20,288,285 common shares issued and outstanding prior to rounding for fractional shares.
No fractional shares shall be issued in connection with the Share Consolidation. Any fractional share resulting from the Share Consolidation will be rounded down to the nearest whole number and any such fractional interest will be cancelled without consideration.
Registered shareholders holding share certificates of Input will be mailed a letter of transmittal from the Company's transfer agent, TSX Trust Company, as soon as practicable after the Effective Date advising of the Name Change and Share Consolidation and instructing them to surrender and 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. Non-registered shareholders holding common shares through an intermediary (a securities broker, dealer, bank or financial institution) should be aware that the intermediary may have different procedures for processing the Share Consolidation than those that will be put in place by the Company for registered shareholders. If shareholders hold their common shares through intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.
The exercise or conversion price of, and the number of common shares issuable under, any convertible securities of the Company will be proportionately adjusted upon the completion of the Share Consolidation.
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. The Name Change and Share Consolidation will not impact the declaration and payment of the Company's September 30th dividend.
Once the Share Consolidation becomes effective, the Company plans to maintain its dividend at the current level, adjusted for the consolidation, resulting in a quarterly dividend of $0.03 per post-consolidation common share ($0.12 annualized) beginning with the dividend payable to shareholders in January 2022.
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.