VANCOUVER, CANADA, and REHOVOT, ISRAEL, May 29, 2024 – BioHarvest Sciences Inc. (“BioHarvest” or the “Company”) (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) announces that it plans to consolidate (the “Consolidation”) its issued and outstanding common shares (“Common Shares”) on the basis of thirty-five (35) pre-Consolidation Common Shares for every one (1) post-Consolidation Common Share.
Pursuant to Section 4.6(8) of Policy 4 of the Canadian Securities Exchange (the “CSE”), the shareholders of the Company (the “Shareholders”) approved the Consolidation at the annual general and special meeting of the Shareholders held on May 27, 2024.
There are currently 574,878,008 Common Shares issued and outstanding. Upon completion of the Consolidation, there is expected to be approximately 16,425,077 Common Shares issued and outstanding, subject to rounding of fractional Common Shares.
The Common Shares are expected to begin trading on a consolidated basis on the CSE on June 3, 2024. The record date for the Consolidation is June 3, 2024. The Consolidation is subject to approval by the CSE.
The new CUSIP number for the post-Consolidation Common Shares will be 09076J207 and the new ISIN will be CA09076J2074. The Common Shares will continue to trade on the CSE under the symbol “BHSC”, and the Company’s name will not change.
About BioHarvest Sciences Inc.
BioHarvest Sciences Inc. (CSE: BHSC) (OTCQB: CNVCF) (FSE: 8MV) is a leader in botanical synthesis, leveraging its patented technology process to grow the active ingredients in plants, without the need to grow the underlying plant. BioHarvest is leveraging its botanical synthesis technology to develop the next generation of science-based and clinically proven therapeutic solutions within two major business verticals; as a contract development and production organization (CDMO) on behalf of customers seeking complex molecules, and as a creator of proprietary nutraceutical health and wellness products, which includes dietary supplements. To learn more, please visit www.bioharvest.com.
Ilan Sobel
Chief Executive Officer
Corporate Contact:
Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622 -1186
Email: info@bioharvest.com
Forward-Looking Statements
Information set forth in this news release might include forward-looking statements that are based on management’s current estimates, beliefs, intentions, and expectations, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. There is no assurance of additional future contracts, and there is no assurance that signed agreements will progress past the first stage. Readers are cautioned that increased revenue is not necessarily an increase in net income or profitability as costs will likely increase as well. All forward-looking statements are inherently uncertain and actual results may be affected by a number of material factors beyond our control. Readers should not place undue reliance on forward-looking statements. The Company does not intend to update forward-looking statement disclosures other than through our regular management discussion and analysis disclosures which can be found under the Company’s profile on www.sedarplus.ca.
The Canadian Securities Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this news release.
