Harborside Inc. (CSE:HBOR), (OTCQX:HBORF) will undergo a mandatory conversion of all of its issued and outstanding multiple voting shares to subordinate voting shares. This follows on the implementation of certain amendments to the articles of Harborside, removing certain restrictions relating to the conversion of MVS to SVS, approved at the special meeting of shareholders held Feb. 22, 2022.
The mandatory conversion will result in each holder of MVS being entitled to 100 SVS for each MVS it holds, subject to providing the company with certain requested information, which will be requested from each holder of MVS in due course. In addition, each holder of warrants exercisable for MVS, will now be entitled to 100 SVS for each MVS underlying its MVS warrants, upon exercise of such MVS warrants. The mandatory conversion is set to occur on March 31, 2022.
