Business
Bemax Inc. Reduces Issued and Outstanding Shares, Retires 40 Million Common Shares of Company Stock
Bemax Inc. Reduces Issued and Outstanding Shares, Retires 40 Million Common Shares of Company Stock.
About this update from Bemax Inc.
[{"type":"text","content":"\n\n\n\nBemax Inc. Reduces Issued and Outstanding Shares, Retires 40 Million Common Shares of Company Stock\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nBemax Inc. Reduces Issued and Outstanding Shares, Retires 40 Million Common Shares of Company Stock\n- Company to complete new purchase order\nPR Newswire\nATLANTA, Jan. 16, 2018\n\n\n\nATLANTA, Jan. 16, 2018 /PRNewswire/ -- Bemax Inc. (OTCBB: BMXC), a growing global distributor of private label disposable diapers, is pleased to announce today its CEO, Taiwo Aimasiko, has voluntarily retired 40,000,000 Common Shares of the Company's Stock for 40,000,000 Series \"C\" preferred shares, effectively reducing the total issued and outstanding common shares by 9.3%.\n\nEvery one share of common stock retired is exchanged for one share of the Series \"C\" preferred stock. \n\n\"This is one of the steps during this current year to add value to shareholders and health of the company. Management will continue to maintain capital structure that would support growth and continue to commit to long term corporate strategy to enhance sales and shareholders' confidence,\" stated Bemax CEO, Taiwo Aimasiko.\n\nAs part of the outcome of Bemax's extensive marketing activities during the past twelve months, the company is set to complete new purchase orders this month. \"When completed, these new purchase orders would demonstrate continued focus to meet our sales targets for 2018,\" said Taiwo Aimasiko, CEO of Bemax Inc.  \n\nA section of this press release relating to the retirement of shares of common stock is in reference to the 8K document filed with the SEC on January 12, 2018.\n\nAbout Bemax Inc.\n\nBemax Inc. exports and distributes Disposable Baby Diapers from the U.S. to emerging markets in Africa and Europe. We also export our private label brands from manufacturers in Asia and distribute to other growing markets. Bemax focuses on an extensive and far-reaching global network among wholesalers, large discounting retailers and supermarkets as well as entry into the ecommerce arena to reach households direct...