Wee-Cig International Corp (OTCMKTS:WCIGD) reported that a majority of the investors entitled to vote on these matters, agreed a one-for-ten reverse split of the firm’s issued and unpaid common stock with $0.0001 par value a share.
There was no modification to the authorized capital of the firm. Earlier in September, Wee-Cig officially submitted its application with the State of Nevada to impact the 1:10 reverse split. The firm obtained regulatory nod for the reverse split. It also took the required measures to alter its CUSIP Number, and now it has been changed to 948465208 from 948465109.
Keir MacPherson, the President of Wee-Cig, reported that they are thrilled about new restructured company assessing new and innovating opportunities and technologies to bring increased values to its stocks for the shareholders.
It is after a long-period the company is back into news. Prior to this update, in 2015 it jointly announced together with Golden Star Enterprises Ltd. that it has released 45 million restricted stock to Golden Star in lieu for 100% of the global distribution and manufacturing rights of Vapor Spirits, which is an alcohol vaporizing product line. These stocks of company showcased a considerable but non-controlling stake in Wee-Cig.
Vapor Spirit is in the segment of designing, manufacturing and commercializing premium alcohol vaporizers. The company will enable drinkers to vaporize alcohol resulting in a truly new and innovative consumption experience whereby the consumer will inhale the spirits, and not drink it.
The same article also stated that Vapor Spirit products represent flavor profiles, while eliminating unwanted calories and impurities from the alcohol and almost provides the drinker no hangover. This product line was stated perfect to use with numerous spirits in social settings, turning it a desirable alternative for alcohol firms, retail stores, bars and restaurants to work with.