Company Reduces Outstanding Shares By 35%
CLOVERDALE, CA / ACCESSWIRE / June 11, 2019 / Canamed4Pets, Inc. (OTC PINK: CNNA) is pleased to highlight key milestones of 2019 thus far and additional near-term goals.
*After a lengthy legal process, the company has achieved full reinstatement by order of the District Court of Wyoming.
*All back debts have been settled with the company's Transfer Agent and the company is in good standing.
*OTC Markets has verified the company's profile so that it may start releasing public disclosures.
Additionally, the company has negotiated a 35% reduction in outstanding common shares. The current outstanding is now 5,807,891,381 shares compared to its previously reported 8,981,888,621 outstanding, representing a reduction of 3,173,897,240 shares to date.
This share reduction represents the first in a series of ongoing negotiations. The company believes an even more significant share reduction will be achieved in the coming weeks. With this objective underway the company foresees no need and has no plans to perform a reverse stock split.
Furthermore, there will be no share reduction negotiations that will entertain the creation of alternative debt instruments that could lead to future dilution of company stock.
Finally, while continuing to execute on rectifying legacy issues and preparing filings to achieve current reporting status, the company will soon begin outlining its operational strategy for revenue generation and shareholder value in future updates.
Stated company CEO, Jason Black: 'Having operated privately for a number of years I've, on occasion, had the pleasure and in some cases the displeasure of encountering publicly traded companies. I come into this role reluctant but determined. I understand the skepticism that some CEO's can inspire and I aim to deliver the best results I can to win the trust and support of shareholders. This is still the very early stages and in the days, weeks, and months to come I will continue to move as aggressively as possible in executing the CNNA business plan.'
Forward Looking Statements:
This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Canamed4Pets, Inc.
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