Scryb Announces Effective Date of Proposed Share Consolidation
Rhea-AI Summary
Scryb (CSE: SCYB, OTC: SCYRF) has announced a 1-for-10 share consolidation effective August 13, 2025. The company's outstanding shares will be reduced from 323,187,472 to approximately 32,318,731 shares.
The consolidation will take effect at market open on the Canadian Securities Exchange, with the company maintaining its current name and trading symbol. No fractional shares will be issued, and any fractional shares will be rounded down. Shareholders of record as of August 12, 2025, will receive instructions from TSX Trust regarding the exchange of share certificates.
Positive
- None.
Negative
- Share consolidation could indicate previous share price weakness
- No cash consideration provided for fractional shares
News Market Reaction
On the day this news was published, SCYRF declined 18.89%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Toronto, Ontario--(Newsfile Corp. - August 7, 2025) - Scryb Inc. (CSE: SCYB) (OTC Pink: SCYRF) ("Scryb'' or the "Company"), is pleased to announce that further to its news release dated July 25, 2025, the Company will proceed with the consolidation of its issued and outstanding common shares (the "Common Shares") on the basis of one (1) new Common Share for every ten (10) old Common Shares (the "Consolidation"), effective as of August 13, 2025. The Consolidation will become effective on the Canadian Securities Exchange (the "CSE") at the opening of the market on August 13, 2025.
The post-Consolidation Common Shares will continue to trade on the CSE under the Company's existing name and trading symbol. The Consolidation is subject to the approval of the CSE. The new CUSIP and ISIN of the Company will be 81111V206 and CA81111V2066, respectively.
The Company currently has 323,187,472 Common Shares issued and outstanding, and following the Consolidation, will have approximately 32,318,731 Common Shares issued and outstanding, prior to rounding of fractional Common Shares. No fractional Common Shares will be issued as a result of the proposed Consolidation. Any fractional Common Shares resulting from the proposed Consolidation will be rounded down to the nearest whole number of Common Shares, and no cash consideration will be paid in respect of fractional Common Shares rounded down to the nearest whole Common Share.
TSX Trust Company ("TSX Trust"), the Company's registrar and transfer agent, will mail out a Letter of Transmittal to the shareholders of record at the close of business on August 12, 2025 providing instructions on exchanging pre-Consolidation share certificates for post-Consolidation share certificates. Shareholders are encouraged to send their share certificates, together with their Letter of Transmittal, to TSX Trust in accordance with the instructions in the Letter of Transmittal.
About Scryb Inc.
Scryb invests in and actively supports a growing portfolio of innovative and high-upside ventures across AI, biotech, digital health, and cybersecurity.
Contact:
James Van Staveren, CEO
Phone: 647-847-5543
Email: info@scryb.ai
Forward-looking Information Cautionary Statement
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events.
In particular, this press release contains forward-looking information relating to, among other things, the proposed Consolidation, including the record date, effective date and ratio thereof. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, included in this press release, the assumption that the Canadian Securities Exchange will not object to the proposed Consolidation and that the Consolidation will be completed as currently anticipated. Although such statements are based on reasonable assumptions of the Company's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, that the Canadian Securities Exchange may object to the proposed Consolidation and use its discretion to prohibit the proposed Consolidation; that the Consolidation may not be completed by the Company; and that the board of directors of the Company retains discretion over the terms and implementation of the Consolidation. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
The Canadian Securities Exchange has not reviewed, approved, or disapproved the contents of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/261783
FAQ
When will Scryb's (SCYRF) 1-for-10 share consolidation take effect?
How many shares will Scryb (SCYRF) have outstanding after the consolidation?
What happens to fractional shares in Scryb's (SCYRF) consolidation?
How can Scryb (SCYRF) shareholders exchange their pre-consolidation shares?
Will Scryb's (SCYRF) trading symbol change after the consolidation?
