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news.As part of the merger of operations with Botaneco
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Advitech has reported that the TSX Venture Exchange (the TSX-V) has approved the previously announced consolidation of its issued and outstanding common shares on the basis of a ratio of eight pre-consolidation shares for every one post-consolidation share (the consolidation).
The company also stated that the common shares of Advitech will be traded on a post-Consolidation basis starting November 26, 2009.
The company claims that the consolidation has been completed as part of the previously announced acquisition of all the issued and outstanding shares of Botaneco Specialty Ingredients (Botaneco) held by Avrio Ventures Partnership (Avrio) and SemBioSys Genetics (SemBioSys), the $2,515,000 equity financing with, among others, Agechem LP Venture (Agechem) and Avrio, and the redemption of the 58,083,334 pre-Consolidation common share purchase warrants held by AgeChem.
The company said that the management information circular of Advitech dated March 13, 2009, which can be found on SEDAR will provide the further details and the reasons therefore on the consolidation.