01-09-2014, 05:47 AM
To assure a better exchange (that is, NASDAQ) listing:
Destiny Media Proposes Reverse Split for Proposed Listing,on NASDAQ Capital Market
January 8, 2014
VANCOUVER, Jan. 8, 2014 - Destiny Media Technologies (TSXV: DSY) (OTCQX: DSNY) announces that its stockholders will be asked to approve a proposed reverse stock split of its issued and outstanding shares of common stock at a ratio of up to five (5) pre-reverse split shares to one (1) post-reverse split share (the “Reverse Split&rdquoat the Annual General and Special Meeting of Stockholders to be held on February 25, 2014. The purpose of the Reverse Split is to assist Destiny Media Technologies in meeting the minimum listing requirements of the NASDAQ Capital Markets. Destiny Media Technologies applied to list its shares of common stock on the NASDAQ Capital Markets on August 27th, 2013 and has received initial comments back. It will provide an update to its stockholders on the status of the listing application following approval of the Reverse Split.
If the Reverse Split is approved, the Board of Directors will have the authority to implement the Reverse Split, and, if enacted, to determine the Reverse Split ratio required to meet the minimum price per share requirements on the NASDAQ Capital Markets. Currently, the Board of Directors intends to implement the Reverse Split as soon as practicable following approval by the stockholders and the TSX Venture Exchange. Notwithstanding approval of the Reverse Split by the stockholders, the Board of Directors, in their sole discretion, may abandon the Reverse Split without further approval, action by, or prior notice to stockholders.
Destiny Media Technologies currently has an aggregate of 52,099,327 shares of common stock issued and outstanding. If the Reverse Split is undertaken at the ratio of 5 to 1, the issued and outstanding shares of common stock would be approximately 10,419,865. Destiny Media Technologies does not intend to change its name in conjunction with the Reverse Split.
The Reverse Split is subject to approval by the Company’s shareholders, the TSX Venture Exchange and FINRA.
On Behalf of the Board of Directors
Steve Vestergaard


at the Annual General and Special Meeting of Stockholders to be held on February 25, 2014. The purpose of the Reverse Split is to assist Destiny Media Technologies in meeting the minimum listing requirements of the NASDAQ Capital Markets. Destiny Media Technologies applied to list its shares of common stock on the NASDAQ Capital Markets on August 27th, 2013 and has received initial comments back. It will provide an update to its stockholders on the status of the listing application following approval of the Reverse Split.