TORONTO, ONTARIO — (Marketwired) — 06/02/16 — SecureCom Mobile Inc. (the “Company”) (CSE: SCE)(OTCBB: SCQBF) (FRANKFURT: S6UN) clarified today the timing of its previously announced consolidation (the “Consolidation”) of its unissued and issued and outstanding common shares on the basis of one post-consolidation share for every five pre-consolidation common shares. The record date for the Consolidation is June 7, 2016. The Company–s common shares are expected commence trading on the Canadian Securities Exchange on a consolidated basis on June 3, 2016 under the new CUSIP number 81372N307.
The Company currently has 25,172,240 issued and outstanding common shares. Following the Consolidation, it is anticipated that the Company will have approximately 5,034,448 issued and outstanding common shares, and continue to trade on the Canadian Securities Exchange under the existing symbol “SCE”. The exercise or conversion price and the number of common shares issuable under any of the Company–s outstanding warrants and options will be proportionately adjusted to reflect the Consolidation in accordance with the respective terms thereof.
Any fractional common shares of the Company that result from the Consolidation will be converted into whole common shares without par value of the Company, such that fractional common shares comprising (i) less than one-half of one common share will be cancelled, and (ii) greater than or equal to one-half of one common share will be converted into one whole common share.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. Each registered shareholder that submits a duly completed letter of transmittal along with such registered shareholder–s share certificate(s) representing pre-consolidation common shares to the Company–s transfer agent, TMX Equity Transfer Services, (the “Transfer Agent”), will receive share certificates representing the number of post-consolidation common shares to which the registered shareholder is entitled. Until so surrendered, each share certificate representing pre-consolidation common shares of the Company will represent the number of whole post-consolidation Common Shares to which the holder is entitled as a result of the Consolidation. Shareholders of the Company that hold common shares through a bank, broker or other nominee should note that banks, brokers or other nominees may have different procedures for processing the Consolidation than those put in place by the Company and the Transfer Agent. Such shareholders will not be required to complete a letter of transmittal.
The Company–s board of directors has approved the Consolidation and believes that the Consolidation will be beneficial to the Company in that it is expected to, among other things, provide the Company with greater flexibility in attracting financing.
About SecureCom Mobile Inc.
SecureCom Mobile Inc. is developing the first, totally secured communication platform for use by the Enterprise markets. SecureCom Cloud will allow the Enterprise to transition to cloud computing while securing all forms of communications and transactions with customers, vendors, users, employees and stakeholders. End to end encryption using the SecureCom Cloud and its embeddable open source apps for messaging, VOIP, Video Conferencing, email, social networks will allow for rapid integration into the new and emerging – cloud based enterprise systems. In addition, block chain will be integrated to allow for smart contracts and distributed ledgers between the Enterprise and their clients, a new and emerging technology that will change the way people and enterprises transact. Securing all forms of communications and transactions within the Enterprise is our goal.
SecureCom Mobile Inc. trades on the Canadian Securities Exchange under the symbol SCE and Frankfurt Stock Exchange S6UN WKN#: A12CAR and the OTC Markets under symbol SCQBF.
Forward Looking Information:
This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of SecureCom Mobile Inc. including its plans to carry out the Consolidation. Forward-looking information is based on certain key expectations and assumptions made by the management of SecureCom Mobile Inc., including future plans for the research and development of digital products, including the effectiveness of the products. Although SecureCom Mobile Inc. believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because SecureCom Mobile Inc. can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. SecureCom Mobile Inc. disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
Forward-looking statements are often identified by terms such as “will”, “may”, “should”, “anticipate”, “expects” and similar expressions. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company–s expectations include the failure to satisfy the conditions of the Canadian Securities Exchange, consumer sentiment towards the Company–s products, technology failures, competition, and failure of counterparties to perform their contractual obligations and other risks detailed from time to time in the filings made by the Company in securities filings.
The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Contacts:
Robert Haag
Managing Director of IRTH Communications
866-976-4784
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