Dividend of 1 share of Cannabis Consortium, Inc. (TGGI) for every 200 shares of BCAP Common owned
Coconut Creek, FL -- October 19, 2016 -- InvestorsHub NewsWire -- Baron Capital Enterprises, Inc. (OTCPK: BCAP) is pleased to announce a special share distribution to all Baron Capital Common shareholders. The distribution will consist of one (1) share in Cannabis Consortium, Inc. (OTCPK: TGGI) for every 200 BCAP Common shares held on the record date.
Baron Capital acquired the control block of Trans Global Group Inc. (OTCPK: TGGI) from its former sole officer and director on October 6, 2016. The acquisition and name change to Cannabis Consortium, Inc. is a fresh start for TGGI as the Company enters the marijuana market.
As Baron Capital grows, it is able to share its financial success with BCAP Common shareholders. Baron Capital has held debt and Common shares in TGGI since 2011.
On October 18, 2016 Baron Capital filed an Amendment with the State of Florida to change the name of Trans Global Group Inc. to Cannabis Consortium, Inc., along with a change to TGGI's share structure.
The State of Florida Amendment reduces TGGI's Authorized Common shares from 10.6 billion to 250 million shares. TGGI's Preferred shares will change from 1.5 million to 1 million. A 10,000 to 1 reverse split for TGGI has also been filed in the Amendment. All changes are scheduled to go effective on, or about, November 7, 2016.
BCAP is making an application to FINRA to change TGGI's name and ticker symbol. After the new name and ticker symbol with FINRA become effective Baron Capital will announce a record date and pay date for the Cannabis Consortium, Inc. distribution.
Baron shareholders shall receive one (1) share in Cannabis Consortium, Inc. for every 200 shares of BCAP held on the record date. As an example if you own 1 million shares of Baron on the record date you will receive 5,000 shares of Cannabis Consortium, Inc. A press release will be issued on a national wire service with this information.
Management successfully issued a dividend to shareholders in 2004 http://tinyurl.com/zheqzcz and the announced Cannabis Consortium, Inc. distribution benefits all BCAP Common shareholders.
Baron Capital will also be offering shareholders the opportunity later in the year to exchange a portion of their BCAP Common shares for shares in White Financial prior to White Financials S-1 being filed.
Further updates on Baron and its subsidiaries will follow in the coming weeks.
Baron will continue to use newswire services, but will also begin taking advantage of social media outlets and its own website to disseminate Company news.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as “believes,” “expects,” “potential,” “plans,” “suggests,” “may,” “should,” “could,” “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.