Grey Cloak Tech, Inc. (OTCQB: GRCK) today announced that its board of directors has decided to abandon and cancel the reverse stock split that was previously approved by both the board and the company’s shareholders in February 2017. Per the update, the board believes that, given the company’s recent acquisition and changes in the market since the time of the approval, it is in the best interest of Grey Cloak Tech to cancel the reverse split. Today’s announcement comes just two days after Grey Cloak Tech announced its acquisition of medically-focused CBD company Eqova Life Sciences in an all-stock transaction.
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Grey Cloak Tech, Inc. (GRCK) Announces Cancellation of Reverse Stock Split
