TORONTO, ONTARIO--(Marketwired - Jun 13, 2013) - Cyberplex Inc. (CX.TO), a leader in targeted mobile, social and online advertising, is pleased to announce it has completed its name change and share consolidation which were approved by its shareholders at the annual general and special meeting of shareholders held on May 23, 2013. The Company's name, which was previously "Cyberplex Inc." has been changed to "EQ Inc.", and the Company will continue operations as "EQ Works".
"Since launching our EQ advertising division several quarters ago, the meaning of EQ has become synonymous with our company's overall value proposition," said Geoffrey Rotstein, President and CEO. "EQ stands for equilibrium. We use data and technology to balance the massive amounts of complex variables and conditions that influence performance. This allows us to target smarter and make advertising and customer acquisition perform better. EQ Works is the message that our entire organization now stands behind for all our clients."
Further to the previously announced share consolidation, all of the outstanding common shares of the Company were consolidated on the basis of one new common share for eight existing common shares. Following the share consolidation, the number of outstanding securities of the Company is approximately 15,857,287 common shares. The trading of the Company's common shares will continue on the Toronto Stock Exchange under the existing symbol "CX" until the name change, share consolidation and new symbol "EQ" are made effective for purposes of trading, which is expected to be on or before June 19, 2013.
Letters of transmittal with respect to the consolidation will be mailed out to all registered shareholders by the Company's transfer agent, Equity Financial Trust Company. The letter of transmittal describes the process by which shareholders may obtain new certificates representing their consolidated common shares. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not need to complete a letter of transmittal.
About EQ Works
EQ Works (www.eqworks.com) provides a smarter way to target customers. The Company makes advertising perform better by using data and technology to target, monitor and adapt campaigns in real-time and boost performance for all web, mobile, social and video initiatives. EQ Works balances the many components that comprise the complex advertising ecosystem and establishes equilibrium for reaching the right audience through any web or mobile device. EQ Works partners with leading agencies, advertisers and networks across North America who are looking to better understand their customers and to get more value out of advertising and digital initiatives.
This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. EQ Inc. is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.