Baron to restructure TGGI and then file Tier I Reg A offering for future projects
Coconut Creek, FL -- October 6, 2016 -- InvestorsHub NewsWire -- Baron Capital Enterprises, Inc. (OTCPK: BCAP) has acquired majority control of Trans Global Group Inc. (OTCPK: TGGI) from TGGI’s former sole officer and director.
TGGI is a DTC eligible publicly traded entity that has had a handful of false starts in recent years. TGGI has no current or pending lawsuits, and has its own shareholder base.
BCAP is currently a large debt holder in TGGI and has held almost 600 million free trading TGGI shares since 2014. The terms of the transaction enabled Baron to acquire a further 1.2 million shares of convertible Preferred stock, or 12 billion shares of Common stock upon conversion, making it the majority shareholder.
TGGI will undergo a name and ticker change, along with a reverse split of its Common stock. Once all corporate actions are completed, a Tier I Reg A offering will be filed for the new entity allowing it to raise funds which will be used to service Baron's clients and other opportunities.
By being the largest shareholder in TGGI and using TGGI as the vehicle to file a Reg A offering, Baron gives itself timing certainty as well as the means to raise growth capital without diluting Baron's current shareholder base. Access to fresh capital allows continued growth of Baron's assets and revenues.
While shareholders of TGGI and Baron will benefit from this plan, Baron shareholders will be protected from any dilution resulting from capital raises as all funds will come from the Reg A offering in TGGI.
Baron has filed a Supplemental Report on OTCMarkets, a copy of which may be found here:https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=160974
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