Africa Hydrocarbons Effects Share Consolidation

Africa Hydrocarbons Effects Share Consolidation

Canada NewsWire

CALGARY, June 27, 2017 /CNW/ – Africa Hydrocarbons Inc. (NFK.H NEX | KNPRF: PNK | KRL1:STU) (“AHI” or the “Company“) today announces implementation of the consolidation of its share capital on a 20 for 1 basis, consolidating its 164,109,838 currently outstanding common shares to 8,205,491 common shares (the “Consolidation“). Shareholder authorization to effect the share consolidation was approved at the Company’s annual and general special meeting held on August 11, 2015. On June 14, 2017, in accordance with the constating documents of the Company and the aforementioned shareholder approval, the board of directors of the Company passed a resolution authorizing the Consolidation.

The Company’s common shares will continue to be traded on the NEX board of the TSX Venture Exchange (the “Exchange“) under the symbol “NFK.H” on a post-consolidation basis and under a new CUSIP number – 00830G506 / ISIN number – CA00830G5068.   

The Company’s common shares are scheduled to begin trading on a post-consolidation basis on the Exchange at market open on June 30, 2017. A letter of transmittal will be mailed to all registered shareholders with instructions on how to exchange existing share certificate(s) for new share certificate(s). Additional copies of the letter of transmittal can be obtained through Computershare Investor Services Inc. or shareholders may also obtain a copy of the letter of transmittal by accessing the Company’s SEDAR profile at www.sedar.com. Until surrendered, each certificate formerly representing common shares of the Company will be deemed for all purposes to represent the number of common shares to which the holder thereof is entitled as a result of the Consolidation.

No fractional shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a common share will be rounded down to the nearest whole number of common shares and no cash consideration will be paid in respect of fractional shares. 

Further details with respect to the Consolidation are contained in the Company’s management information circular dated July 9, 2015, a copy of which is available on SEDAR at www.sedar.com.

The exercise price and number of common shares of the Company issuable upon the exercise of any outstanding stock options, warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation. 

The Company does not intend to change its name or seek a new stock trading symbol from the Exchange in connection with the Consolidation. The Consolidation remains subject to final acceptance by the Exchange. 

About the Company

Africa Hydrocarbons Inc. is a Canadian based company listed on the NEX board of the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.

SOURCE Africa Hydrocarbons Inc.

View original content: http://www.newswire.ca/en/releases/archive/June2017/27/c1676.html

Sino Fortune Holding Corp. Announces Reverse Stock Split

Sino Fortune Holding Corp. Announces Reverse Stock Split

PR Newswire

SHANGHAI, June 27, 2017/PRNewswire/ — Sino Fortune Holding Corporation (OTCQB: SFHD) (“Sino Fortune” or the “Company”), a leading online financial credit facility solution provider servicing SMEs and individual borrowers in China, today announced that its Board of Directors has approved a one (1) -for- five (5) reverse stock split (the “Reverse Split”) of its authorized and issued and outstanding shares of common stock (the “Common Stock”). The Reverse Split was effected by the Company filing a Certificate of Change with the Secretary of State of the State of Nevada on June 20, 2017. The Company is currently seeking approval of the Reverse Split by the Financial Industry Regulatory Authority (“FINRA”). Upon approval of the Reverse Split by FINRA, the Company’s Common Stock will reflect the Reverse Split on the OTCQB Marketplace, where it is currently quoted under the symbol “SFHD”.

As a result of the Reverse Split, every five issued and outstanding shares of the Company’s Common Stock will automatically be combined into one issued and outstanding share. This will reduce the total number of issued and outstanding shares of Common Stock from 361,820,246 to approximately 72.36 million, and the Company’s authorized shares of Common Stock will also be reduced from 2,990,000,000 to 598,000,000. No fractional shares will be issued. All fractional shares created by the Reverse Split will be rounded up to the nearest whole share.

For further information regarding the Reverse Split, please refer to the Company’s Form 8-K filed on June 26, 2017 with the Securities and Exchange Commission (the “SEC”) and available on the SEC website at http://www.sec.gov.


About Sino Fortune Holding Corporation

Founded in 2013, Sino Fortune Holding Corporation (“Sino Fortune“) is a leading online financial credit facility solution provider servicing under-served SME and individual borrowers

in China. Through operating an electronic online financial platform,

www.hyjf.com
,

the Company matches investors with SME and individual borrowers in China. The Company also sets aside risk reserve funds with the aim of limiting losses to investors from borrower defaults. In addition, the company provides investors with access to a liquid secondary market, giving them an opportunity to exit their investments before the underlying loans become due. For more information, please visit: ir.hyjf.com.



Forward-Looking Statements


This press release may contain projections or other forward-looking statements regarding future events or our future financial performance. All statements other than present and historical facts and conditions contained in this release, including any statements regarding our future results of operations and financial positions, business strategy, plans and our objectives for future operations, are forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) and are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These statements are only predictions and reflect our current beliefs and expectations with respect to future events and are based on assumptions and subject to risk and uncertainties and subject to change at any time. We operate in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Actual events or results may differ materially from those contained in the projections or forward-looking statements.


For investors and media inquiries please contact:


At the Company:


Ede Yang
Email: ir@hyjf.com


Investor Relations:


Tony Tian, CFA
Weitian Group LLC
Email:


tony.tian@weitian-ir.com


Phone: +1-732-910-9692

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/sino-fortune-holding-corp-announces-reverse-stock-split-300480242.html

SOURCE Sino Fortune Holding Corporation

Banyan Rail Now MedAmerica Properties Splits Common Stock One for Ten

Banyan Rail Now MedAmerica Properties Splits Common Stock One for Ten

PR Newswire

BOCA RATON, Fla., June 15, 2017 /PRNewswire/ – Banyan Rail Services Inc. (OTC: BARA) today filed amendments to its certificate of incorporation changing the name of the company to “MedAmerica Properties Inc.” and effectuating a one-for-ten reverse split of the company’s outstanding shares of common stock. The name change reflects the company’s new strategy of pursuing the acquisition of well-located medical office buildings, particularly in the sunbelt states. The company has applied to trade under the symbol “MAPI” but will continue to trade as “BARA” until a new symbol is assigned.

Pursuant to the reverse stock split, each outstanding share of the company’s common stock was automatically exchanged for one-tenth of a share. As a result, each stockholder now owns a reduced number of shares of the company’s common stock. The stock split affects all stockholders uniformly and does not affect any stockholder’s percentage ownership in the company or the proportionate voting rights and other rights and preferences of the stockholders, except for adjustments that may result from the treatment of fractional shares, which have been rounded to the nearest whole share. There are approximately 1,056,684 shares of common stock issued and outstanding after the stock split. The number of the company’s authorized shares of common stock was not affected by the stock split. Stockholders do not need to tender their shares for replacement. The company’s transfer agent will send a letter with additional information to stockholders.

The name change and reverse stock split were approved by the board of directors and the holders of a majority of the company’s outstanding shares. For more information, please see the company’s information statement on Schedule 14C sent to the company’s stockholders on May 26, 2017.

Gary O. Marino, the company’s chairman of the board, commented, “We believe the reverse stock split rationalizes our capital structure and should lead to a higher per-share trading price.” Paul S. Dennis, the company’s acting CEO and CFO, added, “Our board and management team is excited about our new strategy of investing in medical office buildings, as reflected by our new name.”

About the Company
MedAmerica Properties Inc. is a Delaware corporation pursuing the acquisition and management of well-located medical office buildings with the intention of aggregating multiple properties with strong fundamentals in attractive geographic locations, particularly in the sunbelt states.

Safe Harbor Regarding Forward-Looking Statements
Although we believe that the acquisition and ownership of medical office buildings is fundamentally sound, we cannot assure you that we will be successful in this endeavor or that we can locate, finance and acquire these properties. The stock split may not have any of the desired consequences described above and our stock price will increase in proportion to the split (or at all). The liquidity of our common stock could be affected adversely by the reduced number of shares outstanding after the stock split. Some of the statements that we make in this press release, including statements about our confidence in the company’s prospects and strategies are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical information or statements about our current condition. Forward-looking statements can be identified by the use of terms such as “believes,” “contemplates,” “expects,” “may,” “will,” “could,” “should,” “would,” or “anticipates,” other similar phrases, or the negatives of these terms. We have based the forward-looking statements on our current expectations, estimates and projections about us. We caution you that these statements are not guarantees of future performance and involve risks and uncertainties. We have based many of these forward-looking statements on assumptions about future events that may prove to be inaccurate. Accordingly, our actual outcomes and results may differ materially from what we have expressed or forecast in the forward-looking statements. Any differences could result from a variety of factors, including our ability to (i) continue to successfully raise capital to fund our operations; (ii) successfully find medical office buildings to acquire; (iii) comply with SEC regulations and filing requirements applicable to us as a public company; and (iv) any of our other plans, objectives, expectations and intentions contained in this release that are not historical facts. You should not place undue reliance on our forward-looking statements, which reflect our analysis only as of the date of this release. The risks and uncertainties listed above and other documents that we file with the SEC, including our annual report on Form 10-K, quarterly reports on Form 10-Q, and any current reports on Form 8-K, must be carefully considered by any investor or potential investor in the company. We undertake no obligation to update forward-looking statements, except as required by law.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/banyan-rail-now-medamerica-properties-splits-common-stock-one-for-ten-300474881.html

SOURCE Banyan Rail Services Inc.