RealBiz Media Group (OTCPK:RBIZ) currently operating as Verus Foods announces that shareholders of record as of July 2 will be eligible to receive shares in NestBuilder, with the distribution date on July 12, the new conversion ratio being 900 RBIZ shares for each (1) share of NestBuilder.
Posy spin-off, the company will file with the SEC for a name change to “Verus Foods, Inc.” along with a symbol change yet to be determined.
“This brings us one step closer to complete autonomy with our own name and identity,” said Verus CEO Anshu Bhatnagar. “This is more than just a symbolic move, as the two divisions’ financials will become separate, simplifying our quarterly financials and reducing the ongoing legal and accounting expenses that have accompanied this long process. Just as importantly, the name change will remove some of the confusion among lenders, customers, and shareholders concerning the nature of our business.”
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