South American Gold Corp. (OTC:SAGD) Announces the Reduction in the Amount of Issued and Outstanding Shares by 200,000,000 Common Shares
LAS VEGAS, June 25, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire – South American Gold Corp. (OTC Pinks:SAGD) (“South American Gold” or “Company”) a company shifting its focus toward the acquisition and implementation of cannabis products is pleased to announce the reduction of 200,000,000 (Two Hundred Million) Common shares of the company’s Issued and Outstanding, reducing it from 745,350,021 shares to 545,350,021 shares. These shares will be delivered back to Treasury and will be confirmed with the Transfer Agent, Transfer Online, Inc. and OTC Markets.com will be updated to reflect this reduction.
“With the current transition of our business model, management decided to significantly reduce the share structure which will add value for existing and future shareholders. We are committed to a long- term strategy that will increase shareholder confidence in what we are executing,” stated Gary Austin, Director of the Company. “We strive to maximize our intrinsic value and continue to enhance upon on our initial success and potential growth. We realize that this will occur with diligent execution of corporate milestones and our initial decision is to reduce the outstanding shares and maintain our commitment to long term success.”
Mr. Austin further stated, “the new structure of shares outstanding is an exciting next step in the revamping of our business model. We are working with all shareholders to reduce convertible debt during this transition. Our goal is to create a long-term investment that is seamless and resilient for all existing and future shareholders.”
About South American Gold Corp.
South American Gold Corp (SAGD) is an operational management company focused on enhancing shareholder value by acquiring and operating under valued cannabis and tech assets.
Corporate Website: www.sagdcorp.co
Media contact: info@sagdcorp.co
General contact: info@sagdcorp.co
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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