Consumer Electronics OEM Level Vision Acquired
MONTREAL -- Midland Baring Financial Group has acquired Level Vision Electronics in an all-stock transaction.
Level Vision is a consumer electronics manufacturer and distributor.
According to the company, Midland Baring's will issue a 20:1 reverse split of its stock, with a total of 25 million shares issued to the Level Vision shareholders, giving the company a total of 45 million shares outstanding on a fully diluted basis.
The company will immediately change its name to Level Vision Electronics Corp.
In a press statement, Midland Baring president Jean-Francois Amyot said, "The corporation plans to concentrate all of its efforts to the development of Level Vision and its expanding cellular world market," adding the services division of Midland Baring "may be sold or slowly phased out."
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