$CYCA Cytta Corp Plans to Spin-Off Subsidiary to F
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THE CYTTA-OWNED SHARES WOULD BE DISTRIBUTED TO THE CYTTA CORP SHAREHOLDERS OF RECORD AS OF A DATE TO BE ANNOUNCED LATER THIS YEAR.
LAS VEGAS, NV / ACCESSWIRE / June 21, 2022 /Cytta Corp (OTCQB:CYCA)( the "Company"
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Michael Collins, Cytta's chief architect, will serve as its interim President and CTO. Michael Collins stated, "We believe this strategy will enable us to pull together and incentivize a world-class team with the requisite domain experience and successful track records."
All the Reticulate Micro shares owned by Cytta would first need to be registered in a registration statement filed with and subsequently declared effective by the SEC, which shares could then be distributed to the Cytta shareholders of record as of a date to be announced later this year.
Gary Campbell, CEO of Cytta stated, "This should enable us to sufficiently capitalize this opportunity without diluting our current shareholders. Plus, we expect the value of Nasdaq shares as a pari passu dividend to be quite worthwhile-the larger a shareholder's position, the greater the dividend. Negotiations with a lead investment banker for a direct Nasdaq listing are progressing."
https://finance.yahoo.com/news/cytta-corp-pla...00670.html
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