LAS VEGAS, Aug. 06, 2020 (GLOBE NEWSWIRE) — Vapor Hub International Inc. (OTC: VHUB) (the “Company”) today announced that FINRA has approved a reverse split of 1-for 200 of the issued and outstanding stock effective August 5, 2020 due to a delay in FINRA approval. A Certificate of Amendment to the company’s restated Certificate of Incorporation that gives effect to the reverse stock split effective August 5, 2020, has been filed with the Nevada Secretary of State. This reverse stock split will become effective at 5:00 p.m. Pacific Time on August 25, 2020. The Company’s common stock will begin trading on a split-adjusted basis on the Over the Counter Exchange (OTC) at market open on August 26, 2020.
As a result of the reverse stock split, each 200 pre-split shares of common stock outstanding will automatically be combined into one issued and outstanding share of common stock without any action on the part of the shareholder. No fractional shares of common stock will be issued as a result of any reverse stock split, fractional shares will be rounded up to whole shares. Once effective, the number of outstanding shares of common stock will be reduced from approximately 94,349,313 as of July 20, 2020 to approximately 471,747 shares (without giving effect to the roundup of fractional shares).
This news release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, statements about the reverse stock split, authorized shares reduction and the related timing of implementation and effects thereof. Forward-looking statements are statements other than statements of historical fact. These forward-looking statements are generally identified by the words “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “may,” “should,” “could,” “will,” “would,” and “will be,” and variations of such words and similar expressions, although not all forward-looking statements contain these identifying words. Although we believe the expectations and forecasts reflected in the forward-looking statements are reasonable, we can give no assurance they will prove to have been correct. They can be affected by inaccurate or changed assumptions or by known or unknown risks and uncertainties. Factors that could cause actual results to differ materially from expected results are described under “Risk Factors” in Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 and any updates to those factors set forth in the Company’s subsequent quarterly reports on Form 10-Q or current reports on Form 8-K.
VAPOR HUB INTERNATIONAL INC.
3060 West 3650 South #92
West Valley City, UT 84119
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