WINNETKA, CA / CRWEPRESSRELEASE / August 21, 2015 / Green Cures & Botanical Distribution Inc. (OTCMKTS:GRCU) (“Green Cures”), a cannabis and industrial hemp products innovator, announced today the company has completed and filed a reduction in authorized common stock by 300,000,000 (three hundred million). In addition, the company announced that it has uploaded the second quarter financials for the period ended June 30 2015, to the OTC Markets Website.
Management of the company determined that it was in the best interest of the Corporation and its shareholders to amend and reduce the authorized common stock. Therefore, on August 20, 2015, the company filed an amendment with the state of Colorado to decrease the authorized capital stock of the Corporation from 2.5 billion shares of Common Stock to 2.2 billion shares of common stock.
Green Cures will continue to aggressively execute plans to improve balance sheets and the capital structure of the company. The goal is to bring stable growth and consistency to meet anticipated financial requirements of potential new investors, and potential joint venture partners. In doing so, Green Cures will continue taking steps to improve the share structure of the company, by eliminating certain classes of preferred stock, starting with Series G which accounts for up to 40,000,000 (forty million) shares of the company’s common stock.
Romeo O. Cruz, the company’s Interim CEO stated today “I am pleased to be taking these steps towards building a stable foundation for Green Cures and its shareholders.” He went on to further state, “As we continue to make progress, I will update all shareholders with additional information as it becomes available.”
About Green Cures & Botanical Distribution Inc.: Green Cures & Botanical Distribution Inc. is a development stage company that retails and wholesales hemp-infused nutritional, botanical, sports, and body care products. The company is currently Web-based and focuses on online retailing. Green Cures & Botanical Distribution Inc. operates a diverse portfolio of products and services within the botanical and cannabis industry, as permitted by law. From concept to production and distribution, Green Cures & Botanical Distribution Inc. is continuously creating and introducing products that promote a healthy life style.
The statements contained in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements are identified by wording such as “scheduled (future sense)”, “intend(s)”, “plan(s)”, “expect(s)”, “believe(s)” “will”, “estimate(s)”, “anticipate(s)”, “expect(s)”, “may”, “would”, “could” or “should” or, in each case, the negative thereof, other variations thereon, or comparable terminology that implies anticipated future deliverables. The Company disclaims any obligation or intention to update any forward-looking statement for any reason.
SOURCE: Green Cures & Botanical Distribution Inc.