LOS ANGELES, Feb. 19, 2014 /PRNewswire/ -- Primco
Management Inc. (OTCQB: PMCM), a fully integrated multi-media
entertainment and real estate development company today announced
that the Company has filed Form 14c, as required by the Securities
and Exchange Commission, informing shareholders of an increase in
the authorized to 25 billion common shares as a reserve requirement
for possible future conversion issuances, in accordance with
contractual obligations to convertible debt holders based on the
recent low stock price of $0.0001. The increase will further allow
Primco to have sufficient shares available for equity funding,
and/or for potential acquisitions which the Board of Directors may
determine is in the best interest of the shareholders.
In light of the recent increase in the share price by over
4500%, Primco now expects to reduce by more than 90% the number of
shares it would have otherwise issued and is presently in
negotiations with private investors for equity capital which would
potentially enable Primco to repay all of its convertible debt and
improve its balance sheet.
The Company is moving forward aggressively to meet its newly
stated goals in the medical marijuana industry and expects to
announce positive developments in the very near future.
About Primco Management Inc. www.primcousa.com: Through its
wholly-owned subsidiaries, ESMG Inc., Top Sail Productions and D
& B Music, Inc., the Company operates as an integrated
entertainment company with divisions in music and film production
and distribution. Primco also operates in various aspects of the
real estate industry.
Disclaimer: The Company relies upon the Safe Harbor Laws of
1933, 1934 and 1995 for all public news releases. Statements, which
are not historical facts, are forward-looking statements. The
company, through its management, makes forward-looking public
statements concerning its expected future operations, performance
and other developments. Such forward-looking statements are
necessarily estimates reflecting the company's best judgment based
upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors
will not affect the accuracy of such forward-looking statements. It
is impossible to identify all such factors. Factors which could
cause actual results to differ materially from those estimated by
the company include, but are not limited to, government regulation;
managing and maintaining growth; the effect of adverse publicity;
litigation; competition; and other factors which may be identified
from time to time in the company's public announcements.
Contact:
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David Michery,
CEO
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(562)
565-9967
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SOURCE Primco Management Inc.