- Metro
spin-off shares to go to EXAD Common shareholders only
- Ratio is
one (1) share of Metro for every one hundred (100) shares of
EXAD
LAS VEGAS, NV -- January 12, 2017 -- InvestorsHub NewsWire --
Experience Art & Design, Inc. (OTC: EXAD) is pleased to
announce the ratio of the spin-off of Metropolitan Dry Cleaners,
Inc. Each EXAD shareholder shall receive one (1) share of
Metropolitan Dry Cleaners, Inc. (Metro) for every one hundred (100)
shares of EXAD they own when the record date is announced.
The holders of EXADs Preferred A Series Shares have elected not
to receive any shares from the spinoff so more shares can go to the
Common shareholders.
The official record date will be announced next week, but the
target date is not expected to exceed 01/31/2017.
As stated in previous 8k filings EXAD plans to use its proceeds
from the sale of Metro to repurchase its Common shares in the open
market.
EXPERIENCE ART & DESIGN, INC., IN COMPLIANCE WITH SEC
REGULATIONS, MAY IN THE FUTURE USE SOCIAL MEDIA OUTLETS LIKE
FACEBOOK OR TWITTER AND ITS OWN WEBSITE TO ANNOUNCE KEY INFORMATION
IN COMPLIANCE WITH REG FD.
For additional information about this release please
contact:
Investor Relations:
702-347-8521
info@metropolitandrycleaners.com
http://www.metropolitandrycleaners.com
Forward-Looking Statements
This news release contains "forward-looking statements" as that
term is defined in Section 27(a) of the United States Securities
Act of 1933, as amended and Section 21(e) of the Securities
Exchange Act of 1934, as amended. Statements in this press release
which are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future. Such forward-looking statements
include, among other things, estimates of dry cleaning
services and equipment markets, release of corporate apps, global
dry cleaning services and equipment markets, growth of platform,
target markets, product releases, product demand and, business
strategy. Actual results could differ from those projected in
any forward-looking statements due to numerous factors. Such
factors include, among others, the inherent uncertainties
associated with new projects and development stage companies. These
forward-looking statements are made as of the date of this news
release, and we assume no obligation to update the forward-looking
statements, or to update the reasons why actual results could
differ from those projected in the forward-looking statements.
Although we believe that any beliefs, plans, expectations and
intentions contained in this press release are reasonable, there
can be no assurance that any such beliefs, plans, expectations or
intentions will prove to be accurate. Investors should consult all
of the information set forth herein and should also refer to the
risk factors disclosure outlined in our annual report on Form 10-K
for the most recent fiscal year, our quarterly reports on Form 10-Q
and other periodic reports filed from time-to-time with the
Securities and Exchange Commission.
Details of the Company's business, finances, appointments and
agreements can be found as part of the Company's continuous public
disclosure as a reporting issuer under the Securities Exchange Act
of 1934 filed with the Securities and Exchange Commission's EDGAR
database.