Grande West Transportation Group Announces Effective Date of Share Consolidation

At this point in time, investors no longer depend on the financial pages in their newspapers for the latest information with regards to the stock market. The emergence of the internet has made life easier for most and information is now far more easily accessible.

One of the more popular platforms for investors at this point is YouTube and RichTV Live is among the most popular channels for investors at this point. The channel produces video in which covers different companies on a daily basis and in one of its latest videos, RichTV looked into the Canadian bus manufacturing company Grande West Group (TSX.V:BUS)(OTCQX:BUSXF)(FRA:6LG).

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What to Watch

The company manufactures buses of a range of variants starting from CNG buses, clean diesel buses, and most importantly electric buses. Rich Tv has been covering the company for quite a while and yesterday, the analyst looked into an important development.

On Thursday the company announced that it is going to complete the consolidation of its shares on March 29. In addition to that, it was also announced that the change of name of the company to Vicinity Motors Corp will also be completed on the same day.

The company had made the announcement with regards to these developments in a press release back on February 25 this year. It is a significant development for the company. The number of issued and outstanding shares in the company is going to be reduced to 29,289,871 from 87,869,613 following the competition of the consolidation process.

As everyone knows, the reduction in the number of shares could provide a boost to the stock, since the numbers of available shares are going to be fewer than before. In this regard, it is also necessary to point out that after the completion of the consolidation process, there is not going to be any fractional issuance of shares.

Hence, it was no surprise that the company was focus on the latest RichTV video. The channel has showcased the company for quite a while and earlier on this year named it as one of the electric vehicle stocks that could be followed. Investors could do well to keep an eye on this stock over the course of the coming weeks.

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