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BRK Announces Launch of the Growth Phase of Its Long-Term Strategy With Equity Investment From Intrepid Management
BRK Announces Launch of the Growth Phase of Its Long-Term Strategy With Equity Investment From Intrepid Management.
About this update from Gen 2 Technologies Inc.
[{"type":"text","content":"\n\n\n\nBRK Announces Launch of the Growth Phase of Its Long-Term Strategy With Equity Investment From Intrepid Management\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\nBRK Announces Launch of the Growth Phase of Its Long-Term Strategy With Equity Investment From Intrepid Management\nPR Newswire\nHENDERSON, Nevada, June 9, 2020\n\n\n\nHENDERSON, Nevada, June 9, 2020 /PRNewswire/ -- BRK, Inc. (the \"Company\") (OTC: BRKK) (OTC: BRKKD) wishes to inform its shareholders that it has sufficiently restructured and recapitalised so as to proceed aggressively into the growth phase of its long-term strategy. \nFollowing the successful implementation of the FINRA approved 1m:1 with 100 share minimum reverse split, outstanding shares stand at 262,372. Management will shortly be awarding an additional 300,000 restricted shares to both align and retain key personnel. The shares will come with a 12-month no sell restriction. The share reward will also extinguish any claims for accrued salaries and related liabilities.\nAs part of its focus on driving shareholder accretive growth, effective immediately, Mr. Michael Kovacocy will move from his now discontinued role as Head of Recapitalization and Restructuring Initiatives and Investor Relations into the new position of Head of Corporate Development and Investor Relations. \nIn its final restructuring act, management will institute an across the board reduction in salaries of 25%. This move will address the interests which have been voiced by both loyal long-term shareholders and our new strategic capital partners – ensuring that capital efficiency is optimized.\nAs a further control to safeguard long-term shareholder value and impose structural discipline on usage of and deployment of capital, authorized shares have been reduced from 5 billion to 5 million. Management believes that with this move, the capital profile of the company now allows for an optimal relationship with the capital markets supporting future up-listings and enhanced shareholder value. Coupled with the size of our current outstanding share base, mar...