other_material
confidence high
sentiment negative
materiality 0.85
CLS Holdings shareholders approve 1-for-4M reverse split; company to deregister SEC reporting
CLS Holdings USA, Inc.
- Reverse stock split of 1-for-4,000,000 approved with 94.27% of votes cast (135,687,759 for).
- No fractional shares; cash payment of $0.037 per pre-split share for fractional interests.
- Resulting fewer than 15 shareholders, enabling deregistration under Section 12(g) of Exchange Act.
- Company will file Form 15 with SEC to suspend reporting obligations; also seeks Canadian non-reporting status.
item 5.07item 8.01