Vibe Growth Announces Proposed Share Consolidation
Rhea-AI Summary
Vibe Growth (CSE: VIBEF) proposes a 1-for-10 share consolidation, reducing issued and outstanding common shares from 10,796,989 to approximately 1,079,699, subject to rounding. Record date is May 11, 2026; trading of post-Consolidation shares on the CSE is expected on or about May 11, 2026, pending final CSE approval.
No fractional shares will be issued; fractions will be rounded down with no cash paid. The company’s name and stock symbol will remain unchanged. New CUSIP: 92556L504; new ISIN: CA92556L5045.
Positive
- Consolidation ratio set at 1-for-10
- Outstanding shares reduced to approximately 1,079,699
- New CUSIP 92556L504 and ISIN CA92556L5045
Negative
- Fractional shares rounded down with no cash compensation
- Trading of post-Consolidation shares subject to CSE final approval
- Registered holders must submit certificates to transfer agent for processing
Sacramento, California--(Newsfile Corp. - May 5, 2026) - Vibe Growth Corporation (CSE: VIBE) (the "Company" or "Vibe"), a vertically integrated cannabis enterprise, announces that the Company anticipates completing a consolidation (the "Consolidation") of its common shares (the "Common Shares") on the basis of one (1) post-Consolidation Common Share for each ten (10) pre-Consolidation Common Shares.
The proposed Consolidation would result in the number of issued and outstanding Common Shares being reduced from the current outstanding 10,796,989 Common Shares to approximately 1,079,699 Common Shares, subject to rounding. No fractional shares will be issued as a result of the Consolidation. Any fractional shares resulting from the Consolidation will be rounded down to the next whole common share, and no cash consideration will be paid in respect of fractional shares.
The Company's board of directors has set May 11, 2026, as the record date of the Consolidation. Trading of the post-Consolidation Common Shares on the Canadian Securities Exchange ("CSE") is expected to commence on or about May 11, 2026, subject to final approval by the CSE. The new CUSIP number will be 92556L504, and the new ISIN number will be CA92556L5045. The Company's name and stock symbol will remain unchanged following the Consolidation.
Shareholders with physical share certificates will receive a letter of transmittal from Odyssey Trust Company, the Company's transfer agent. All registered shareholders will be required to send their certificates representing pre-Consolidation shares, along with a properly executed letter of transmittal, to the Company's transfer agent, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary on the procedures for processing the Consolidation of their shares, and for determining their post-Consolidation positions.
About Vibe Growth Corporation
Vibe Growth Corporation and its cannabis retail brand, Vibe Cannabis, with retail dispensaries in California and Oregon; commercial cannabis distribution; brand sales and marketing; e-commerce platform. In California, Vibe is focused on maximizing shareholder value through accelerating organic growth, opportunistic acquisitions, distressed workouts, and new license applications. The Company operates retail and e-commerce under its iconic Vibe Cannabis brand.
Company Contact
Investor Relations
Phone: +1 833-420-VIBE x102
Email: ir@vibebycalifornia.com
Website: www.vibebycalifornia.com
Caution Concerning Forward-Looking Information
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
The purpose of forward-looking statements is to provide the reader with a description of management's expectations, and such forward-looking statements may not be appropriate for any other purpose. Disclosure in this press release concerning the Company's expectations respecting the Consolidation make reference to or involve forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. A number of factors could cause actual events, performance or results to differ materially from what is projected in the forward-looking statements. No undue reliance should be placed on forward-looking statements contained in this press release. Such forward-looking statements are made as of the date of this press release. Vibe undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. The Company's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296096
FAQ
When will the VIBEF consolidation take effect and when will trading resume?
The record date is May 11, 2026; trading expected on or about May 11, 2026. According to the company, commencement of trading of post-Consolidation shares is subject to final approval by the Canadian Securities Exchange.
Will Vibe Growth's stock symbol or company name change after the consolidation (VIBEF)?
No — the company name and stock symbol will remain unchanged following the Consolidation. According to the company, only the CUSIP and ISIN will change to the new identifiers provided.