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CALGARY, Alberta—Comac Food Group Inc.'s, board of directors wants to change its name to Canada's Pizza Delivery Corp.
According to a news release, the name change would reflect the company's core business of Domino's Pizza delivery. It franchises approximately 230 stores.
The board also approved a one-for-five consolidation of its shares traded on the TSX Venture Exchange. According to the release, with fewer shares, Comac "will be able to better respond to the demands of capital markets." The stock last traded at CAN 7 cents (U.S. 5 cents)
Both moves are subject to regulatory and shareholder approvals and will be voted on at Comac's annual and special meeting Dec. 23. Two-thirds approval is needed.
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