Green Cures Announces Reduction of Authorized Shares
August 21 2015 - 8:45AM
Access Wire
WINNETKA, CA / ACCESSWIRE / August 21, 2015 /
Green Cures & Botanical Distribution Inc. (PINKSHEETS: GRCU)
("Green Cures"), a cannabis and industrial hemp products innovator,
announced today the company has completed and filed a reduction in
authorized common stock by 300,000,000 (three hundred million). In
addition, the company announced that it has uploaded the second
quarter financials for the period ended June 30 2015, to the OTC
Markets Website.
Management of the company determined that it was in the best
interest of the Corporation and its shareholders to amend and
reduce the authorized common stock. Therefore, on August 20, 2015,
the company filed an amendment with the state of Colorado to
decrease the authorized capital stock of the Corporation from 2.5
billion shares of Common Stock to 2.2 billion shares of common
stock.
Green Cures will continue to aggressively execute plans to
improve balance sheets and the capital structure of the company.
The goal is to bring stable growth and consistency to meet
anticipated financial requirements of potential new investors, and
potential joint venture partners. In doing so, Green Cures will
continue taking steps to improve the share structure of the
company, by eliminating certain classes of preferred stock,
starting with Series G which accounts for up to 40,000,000 (forty
million) shares of the company's common stock.
Romeo O. Cruz, the company's Interim CEO stated today "I am
pleased to be taking these steps towards building a stable
foundation for Green Cures and its shareholders." He went on to
further state, "As we continue to make progress, I will update all
shareholders with additional information as it becomes
available."
About Green Cures & Botanical Distribution
Inc.: Green Cures & Botanical Distribution Inc. is a
development stage company that retails and wholesales hemp-infused
nutritional, botanical, sports, and body care products. The company
is currently Web-based and focuses on online retailing. Green Cures
& Botanical Distribution Inc. operates a diverse portfolio of
products and services within the botanical and cannabis industry,
as permitted by law. From concept to production and distribution,
Green Cures & Botanical Distribution Inc. is continuously
creating and introducing products that promote a healthy life
style.
www.gcbdinc.com
FDA Statement:
The statements contained in this document have not been
evaluated or approved by the FDA. The products and statements
referenced in this document are not intended to diagnose, treat,
cure, or prevent any disease.
Forward-looking statement:
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Forward-looking statements are identified by wording such as
"scheduled (future sense)", "intend(s)", "plan(s)", "expect(s)",
"believe(s)" "will", "estimate(s)", "anticipate(s)", "expect(s)",
"may", "would", "could" or "should" or, in each case, the negative
thereof, other variations thereon, or comparable terminology that
implies anticipated future deliverables. The Company disclaims any
obligation or intention to update any forward-looking statement for
any reason.
Contact:
info@gcbdinc.com
SOURCE: Green Cures & Botanical
Distribution Inc.
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