Mentor Capital Qualifies for Highest Segment of OTC Pink Market
April 11 2014 - 12:51PM
Business Wire
Current Company Acquisition, Stock and Cash Position
Summarized
Mentor Capital, Inc. (OTC Markets: MNTR) status was upgraded
today by OTC Markets Group to the highest of the three primary OTC
Pink Marketplace segments: Current Information. All updated Mentor
Capital financials, filings, disclosures and legal opinions through
February 28, 2014, are publicly available on the OTC Disclosure
& News Service pursuant to its guidelines. This is a first part
in the active execution of the company’s stated goal to step up to
current status, complete audits, voluntarily file a Form 10, move
up quickly to the OTCQB and then onto NASDAQ. At each stage along
the way, companies historically have experienced greater
institutional participation, liquidity, coverage and visibility for
shareholders.
Briefly highlighting certain aspects of these disclosures and
other recent events the company notes that:
- Mentor Capital maintains a $1 Million
cash reserve.
- The company paid $1.3 Million to Bhang
Chocolate owners in March.
- The Bhang 60% acquisition contract is
closed and is not contingent.
- The $7.7M still due to Bhang Owners and
$30M two to three year infusion into Bhang is expected to be paid
in cash, although it could be paid in stock.
- An international private equity group
announced a $35 Million loan closing to Mentor Capital, as is their
normal practice. Mentor will announce after receipt of funds.
- No reverse split is contemplated.
- All CEO discounted warrants were
exercised and those shares put in escrow to guarantee a loan for
the company.
- No shares or warrants have been sold by
the CEO in 10 years.
- Mentor has approximately 5 Million
shares in the float and available for trading, 5 Million shares in
paper form in files and safety deposit boxes, 5 Million shares in
escrow, and 15 Million warrants at a $7 per share strike
price.
About Mentor Capital: By acquisition or stock purchase,
Mentor Capital, Inc. seeks to invest in leading cannabis companies.
Additional important information for investors and founders seeking
expansion funding is presented at: www.MentorCapital.com
Forward Looking Statements, Safe Harbor and Risk Descriptions
are Incorporated by Reference from the MNTR Company Web Site
above.
Mentor Capital, Inc.Chet Billingsley, CEO(760) 788-4700
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