FORT LAUDERDALE, Fla.,
Feb. 28, 2014 /PRNewswire/ -- PV
Enterprises International, Inc. (OTC: PVEC, the "Company"), is
extremely pleased to announce to all shareholders of record that on
March 14th, 2014 the company will
gift one (1) share of PVEC Series C Preferred Stock for every one
hundred seventy-five (175) shares of PVEC common stock held.
The Company wishes to show its gratitude to our long term
shareholders that have been firmly invested and supportive of PVEI
throughout the challenges faced in recent months. Similarly, the
Company wishes to restore value and confidence lost as a result of
the IMAG dividend, which for circumstances beyond the control of
the Company, were unable to be issued.
As the Company continues to move forward in present negotiations
we are confident such will propel the company forward in the coming
months. As part of this approach we are providing the following to
all shareholders of record as of March 14th,
2014:
One (1) share of Series C Preferred Stock for every one
hundred and seventy-five (175) shares of Common Shares owned
of PV Enterprises International, Inc. (PVEC)
Series C Preferred Stock is a preferred stock that will be
restricted from redemption for six (6) months from the date of
issue and has a par value of $.20
(twenty cents). Series C stock will
be issued in certificate form and mailed to all shareholders of
record beginning the following week after recording, the week of
March 17th, 2014, arriving to
shareholders by mail. Beginning September
17th, 2014, certificates will be eligible for redemption for
face value in cash or $.20 worth of
PVEC common stock. In the event the price per share is higher than
face value of $.20 (twenty cents), the Preferred C Series Stock may
be redeemed for 1 (one) share of common stock at the current price
per share. There will not be partial shares issued or cash issued
in lieu of the Preferred Series C Stock. Any shareholder retaining
less than 175 shares of common stock in PVEC on the record date
will forfeit the right to receive the Preferred Share.
Example:
Common Stock Owned = 10,000,000 shares
Series C Preferred Stock with Par Value of .20 at 1:175 =
57,143
The filing for this Series C Preferred Stock has been completed
with the Nevada Secretary of
State. When this Series C Preferred Stock is listed, the par value
will be shown as $.001. The Company
would like to assure shareholders that this is not the actual par
value of the stock, which is set at twenty
cents ($.20) per section V of
the Company bylaws.
Further updates will be issued to our shareholders in the
forthcoming weeks as we continue to negotiate and execute plans for
moving forward.
For further inquiries please contact ir@pvefl.com
Safe Harbor Statement: This press release contains statements,
which may constitute forward-looking statements within the meaning
of the Securities Act of 1933 and the Securities Exchange Act of
1934, as amended by the Private Securities Litigation Reform Act of
1995. Those statements include statements regarding the intent,
belief or current expectations of PV Enterprises International,
Inc., members of their management, and assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements.
https://pveinternational.com
SOURCE PV Enterprises International, Inc.