Plymouth Realty Capital Corp. Announces Proposed Share Consolidation, Private Placement Financing and extension of filing of interim financial statements
PLYMOUTH REALTY CAPITAL CORP.
580 Hornby Street, Suite 880
Vancouver, BC V6C3B6
Plymouth Realty Capital Corp. Announces Proposed Share Consolidation,
Private Placement Financing and extension of filing of interim financial statements
May 25, 20 20. Plymouth Realty Capital Corp. ( the “Company”) (TSX -V: PH.H) announces that its
board of directors have approved a proposed private pl acement financing of up to 10 ,000,000 post -
Consolidation (as defined herein) common shares at $0. 05 per post -Consolidation shar e for gross
proceeds of $500,000 (the “Offering”).
Proceeds of the Offering will be used for identifying business acquisitions as well as for general working
capital and corporate purposes.
Closing of the proposed Offering is subject to a number of c onditions, including receipt of all necessary
corporate and regulatory approvals, including approval of the TSX Venture Exc hange.
Share Consolidation
The Company announces that it intends to consolidate its issued and outstanding common shares at a
ratio of ten (10) pre-consolidated shares to one (1) post -consolidation share (the “Consolidation”). The
purpose of the Consolidation is to facilitate the Company’s ability to attract future financings, generate
greater investor interest and improve trading liquidity.
The Company currently has 6,225,000 common shares issued. Upon completion of the Consolidation
and the Offering , the Com pany anticipates there will be 10,622,500 common s hares issued and
outstanding.
The Consolidation is subject to acceptance from the TSX-V and approval of the shareholders.
Extension of Filing Deadline for Interim Financials and Management Discussion and Analysis
The Company is also announcing that d ue to circumstances created by the COVID -19 pandemic
measures, the Company will be delaying the filing of its first quarter interim financial statements and
related management discussion and analysis for the period ended March 31, 2020 until a date that is on
or before July 14, 2020.
The Company confirms that no material business devel opments have occurred since filing of the
Company's interim financial statements for the three and nine month period ended September 30, 2019,
and should material business developments occur the Company will update shareholders accordingly.
All Company ex ecutives, directors and insiders will be subject to a trading black -out policy that reflects
the principles in section 9 of National Policy 11- 207 Failure-to-File Cease Trade Orders and Revocations
in Multiple Jurisdictions.
The Company is relying on loca l blank orders issued by the British Columbia and Alberta Securities
Commissions (the “Blanket Orders”) for the following: (a) the requirement to file interim financial
statements as at and for the three months ended March 31, 2020 pursuant to sections 4.4(b) and 4.6 of
National Instrument 51- 102, and (b) the requirement to file interim management discussion and analysis
as at and for the three months ended March 31, 20 20 pursuant to sections 5.1 and 5.6 of National
Instrument 51- 102. The Blanket Orders permit reporting issuers to extend the filing deadlines under
securities laws by 45 days.
On behalf of the Board of Directors,
Gunther Roehlig, Chief Executive Officer
For further information please contact:
Plymouth Realty Capital Corp.
580 Hornby Street, Suite 880
Vancouver, British Columbia V6C 3B6
T: (604) 617-5421
Forward-Looking Statements
Information set forth in this news release conta ins forward- looking statements that are based on
assumptions as of the date of this news release. These statement s reflect management’s current
estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The
Company cautions that all forward look ing statements are inherently uncertain and t hat actual
performance may be affected by a number of material factors, many of which are beyond the Company ’s
control. Such factors include, among other things: risks and uncertainties relating to the Company’s ability
to complete the proposed private placement financing, limited operating histor y and the need to comply
with environmental and governmental regulations. Accordingly, actual and future events, conditions and
results may differ materially from the es timates, beliefs, intentions and expectations expressed or implied
in the forward looki ng information. Except as required under applicable securities legislation, The
Company undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGUL ATION SERVICES PROVIDER (AS THAT
TERM IS D EFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.