World Oil Group, Inc. Cancels 2.12 Billion Shares or 71.8% of Its Common Shares Ahead of Its First Acquisition
April 13 2021 - 9:36AM
InvestorsHub NewsWire
Debary, FL -- April 13, 2021 -- InvestorsHub NewsWire -- World
Oil Group, Inc. (OTC
Pinksheets WOGI) announced today that it has canceled 2.12
billion or 71.8% of its common shares ahead of its first
acquisition, leaving the issued and outstanding at 833,262,060
common shares. The company has also reduced its authorized shares
down to 1 billion, from 5 billion.
CEO Claudio Aballay stated this reduction was done to
accommodate the new company’s management which also plans
additional cancellations of common stock. Our transfer agent will
reflect these changes in the coming days and the Florida secretary
of state is in receipt of our changes.
Claudio also stated that “World Oil Group, Inc. has no toxic
debt and will not be doing a reverse split.”
Safe Harbor Statement
This release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E and or 27E of the Securities Exchange Act of 1934
that are based upon assumptions that in the future may prove not to
have been accurate and are subject to significant risks and
uncertainties, including statements as to the future performance of
the company and the risks and uncertainties detailed from time to
time in reports filed by the company with the Securities and
Exchange Commission.
Forward-Looking Statements
This press release may contain forward-looking statements,
including information about management's view of World Oil Group
Inc.’s future expectations, plans and prospects. In particular,
when used in the preceding discussion, the words "believes,"
"expects," "intends," "plans," "anticipates," or "may," and similar
conditional expressions are intended to identify forward-looking
statements. Any statements made in this news release other than
those of historical fact, about an action, event or development,
are forward-looking statements. These statements involve known and
unknown risks, uncertainties and other factors, which may cause the
results of World Oil Group Inc., its subsidiaries and concepts to
be materially different than those expressed or implied in such
statements. Unknown or unpredictable factors also could have
material adverse effects on World Oil Group Inc.’s future results.
The forward-looking statements included in this press release are
made only as of the date hereof. World Oil Group Inc. cannot
guarantee future results, levels of activity, performance or
achievements. Accordingly, you should not place undue reliance on
these forward-looking statements. Finally, World Oil Group Inc.
undertakes no obligation to update these statements after the date
of this release, except as required by law, and also takes no
obligation to update or correct information prepared by third
parties that are not paid for by World Oil Group Inc.
Claudio Aballay
407-777-9228
Info@worldoilgroup.com