PHILADELPHIA, Sept. 20, 2017 /PRNewswire/ -- Integrated Ventures, Inc, (OTC: INTV) is please to announce that it has received a clearance from the Financial Industry Regulatory Authority ("FINRA") for the Reverse Stock Split. The Company's common stock will be quoted under the symbol "INTV," with the fifth character "D" added to the end of the trading symbol, for a period of 20 trading days to indicate that the Reverse Stock Split has occurred. The company's common stock will revert to trading under its original symbol "INTV" after the 20 trading day period.
Trading of the Company's common stock on a split-adjusted basis is expected to begin at the open of trading on 09/21/2017. As a result of the Reverse Stock Split, every 50 shares of pre-split common stock will automatically be reclassified as and converted into one share of post-split common stock. The Reverse Stock Split will reduce the number of shares of the Company's issued and outstanding common stock from approximately 387,114,262 shares to approximately 7,742,286 shares, without any change in the par value of the shares. Any fractional shares resulting from the Reverse Stock Split will be rounded up to the nearest whole share.
"Looking ahead, we believe the successful completion of the Reverse Stock Split provides the Company with a number of immediate benefits including a up coming relisting on OTCQB, enhancing the suitability of the Company's shares for potential long-term institutional and individual investors. In addition, we believe that this Corporate Action will facilitate securing additional capital, through strategic and collaborative arrangements and other equity funding transactions. We would to thank all of our stakeholders for their continued support and are confident in the progress that we have made to transform the Company, which lays the foundation for accelerated growth, and affirms our commitment to building greater shareholder value in the coming months," Steve Rubakh, CEO of Integrated Ventures, Inc added.
All records of the Company's transfer agent, Worldwide Stock Transfer, will be updated to reflect the Reverse Stock Split. Worldwide Stock Transfer will act as the exchange agent for the Reverse Stock Split and will distribute a letter of transmittal to stockholders of record with instructions for the surrender of old stock certificates. All post-split shares will be in uncertificated form unless certificates are requested by record holders. Stockholders who hold their shares in "street name" will be contacted by their banks or brokers with any instructions. Shares held as part of the DTC System will be automatically adjusted on the same basis. The Company will have a new CUSIP number 45826P200, effective as of 09/21/2017.
About Integrated Ventures, Inc: Company is focused on acquiring, investing and operating companies, primarily in the mobile technologies, ride share transportation and crypto currency mining and blockchain applications with a seasoned management team, solid operational histories, minimum debt, tangible assets and technologies with a high growth potential, designed to mitigate investor risk. The Company is focused on implementing unique business strategies, on creating liquidity through asset based infrastructure, on supporting and improving operations, on securing and infusing growth capital, on maintaining and expanding a market presence in their niche sectors, while constantly enhancing this process by a multitude of initiatives. For more details, please visit us at www.integratedventuresinc.com.
Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "explores," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, and various other factors beyond the Company's control.
SOURCE Integrated Ventures, Inc