August 28, 2023 – Vancouver, British Columbia – TripSitter Clinic Ltd. (the “Company” or “TripSitter”) (CSE: KETA) announces that it has postponed the consolidation of its outstanding common share capital on the basis of five (5) pre-consolidation shares for every one (1) post-consolidation share (the “Consolidation”), which was previously announced on August 21, 2023. The Company previously announced that the Consolidation would be effective at the open of markets on August 25, 2023. The Company’s post-Consolidation common shares are now expected to begin trading on the Canadian Securities Exchange (“CSE”) on or about August 30, 2023. Following the Consolidation, the total issued and outstanding number of post-Consolidation common shares of the Company will be approximately 6,658,174, and the new CUSIP will be 89680B204 and the new ISIN will be CA89680B2049. The name of the Company and trading symbol will remain the same after the Consolidation.
Letters of transmittal with respect to the Consolidation will be mailed to all registered shareholders of the Company. All registered shareholders will be required to send their respective certificates representing the pre Consolidation Common Shares along with a properly executed letter of transmittal to the Company’s transfer agent, Olympia Trust Company (“Olympia”), in accordance with the instructions provided in the letter of transmittal. All shareholders who submit a duly completed letter of transmittal along with their respective preConsolidation Common Share certificate(s) to Olympia, will receive a post-Consolidation common share certificate or Direct Registration Advice representing the post Consolidation common shares of the Company.
The Company also announces that it has ended its relationship with its former telehealth service provider responsible for providing evaluations of patients for eligibility of ketamine-assisted therapy. As a result, the Company is engaged in the process of identifying a new telehealth service provider to re-enable the intake and assessment of patients through its telehealth platform.
ON BEHALF OF THE BOARD OF DIRECTORS
Dr. John Huber, CEO
Email: dr.huber@tripsitter.clinic
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.
CAUTIONARY DISCLAIMER STATEMENT
This news release may include certain “forward-looking statements” under applicable Canadian securities legislation, including with respect to the business objectives of the Company, including with respect to the completion of the Consolidation and the Company’s ability to identify and enter into an agreement with a telehealth services provider on terms acceptable to the Company. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward looking statements. Such factors include, but are not limited to general business, economic, competitive, political, and social uncertainties, and uncertain capital markets. Readers are cautioned that actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The – 2 – Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
