PharmaDrug Announces Share Consolidation and Appoints New CFO

LOS ANGELES — PharmaDrug Inc, a pharmaceutical company, has made two significant announcements today. Firstly, it has detailed its upcoming share consolidation, and secondly, it has named a new Chief Financial Officer.

Beginning October 24, 2023, PharmaDrug will initiate its share consolidation, consolidating its common shares at a rate of seven pre-consolidated common shares to one post-consolidated common share. This share consolidation will decrease the current number of outstanding common shares from 360,626,346 to an estimated 51,518,049 common shares. As per the consolidation terms, adjustments will be made to the company’s outstanding convertible securities. The company has clarified that no fractional shares will be issued. Any resulting fractional shares from this action will be rounded down, with no cash compensation to be provided for these fractional shares.

On this consolidation’s effective date, PharmaDrug will commence its trading on the Canadian Securities Exchange with the new CUSIP and ISIN numbers being 71716W204 and CA71716W2040, respectively.

In its second major announcement, the company has appointed Kyle Appleby as its Chief Financial Officer, succeeding the previous CFO, Keith Li. Appleby comes with vast experience in public company financial operations, possessing a CPA designation and a specialization in offering accounting and governance services to a myriad of companies. With a tenure spanning over 20 public firms across several exchanges, including the Canadian Securities Exchange and the Toronto Stock Exchange, Appleby is poised to bring his expertise to PharmaDrug. The company extends its gratitude to Mr. Li for his contributions during his tenure.