Defense Technologies International Corp. (OTCMKTS:DTII) Files An 8-K Other EventsItem 8.01 Other Events.
On January 19, 2018, our board of directors approved a proposal to effect a reverse stock split of Defense Technologies issued and outstanding shares of common stock on a one share for fifteen hundred (1:1500) shares basis. On April 6, 2018 FINRA announced that the reverse stock split would become effective on Monday, April 9, 2018.
As a result of the reverse stock split, we will have issued and outstanding approximately 132,910 shares of common stock, without giving effect to the rounding up of fractional shares. Each share certificate representing shares of pre-split common stock will be deemed to represent 1/1500th shares of post-split common stock. New share certificates will be issued in the future to reflect the stock split, but this in no way will affect the validity of current share certificates. New certificates representing post-split common stock will be issued in due course as old share certificates are tendered for exchange or transfer to our transfer agent: Standard Registrar & Transfer Co, Inc., 440 East 400 South, Suite 200, Salt Lake City, Utah 84111.
The reverse split will decrease the number of outstanding common shares but will not affect any stockholder's proportionate interest in our company, except for possible minor differences resulting from the rounding up of fractional shares. Post-split common shares will trade under the symbol "DTIID" for 20 business days after the effective date of the reverse split. Thereafter, the trading symbol will revert to "DTII". All post-split common shares will be fully-paid and non-assessable, and the rights and preferences of the outstanding shares will remain the same as pre-split shares.
Cautionary Note About Forward-looking Statements
Statements contained in this current report which are not historical facts, may be considered "forward-looking statements," which term is defined by the Private Securities Litigation Reform Act of 1995. Any "safe harbor under this Act does not apply to a "penny stock" issuer, which definition would include the company. Forward-looking statements are based on current expectations and the current economic environment. We caution readers that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties, as well as other uncontrollable or unknown factors, could cause actual results to materially differ from the results, performance or expectations, expressed or implied by such forward-looking statements.
About Defense Technologies International Corp. (OTCMKTS:DTII)
Defense Technologies International Corp., formerly Canyon Gold Corp., is an exploration-stage company seeking potential business opportunities in the minerals industry. The Company is engaged in the search for mineral deposits or reserves of precious and base metal targets, which are not in either the development or production stage. Its mineral property interests consisted of 30 Bureau of Land Management mineral lease claims, situated in the west section of the new Long Canyon Gold Trend area of east central Nevada, as of April 30, 2016. These properties are located next to other exploration projects in the Long Canyon Gold Trend. All the claims are located in Section 35, T 34N R63E, Mount Diablo Base & Meridian. It focuses on exploring the claims for gold and silver mineralization deposits as funding permits. It was focused on exploring for gold, silver and other minerals on property covering an area of 640 acres, as of April 30, 2016. As of April 30, 2016, it had no revenues.
