Business
South American Gold to Spin-Off Non-Cannabis Related Businesses
South American Gold to Spin-Off Non-Cannabis Related Businesses.
About this update from South American Gold Corp
[{"type":"text","content":"\n\n Las Vegas, NV, July 27, 2017 (GLOBE NEWSWIRE) -- South American Gold Corp (OTC: SAGD), a company that has for some time been focused on cannabis related businesses, and recently transitioned to include being an operational management company focused on enhancing shareholder value by acquiring and operating undervalued assets, is excited to share with its shareholders its strategies to enhance shareholder value. \n SAGD's will be spinning off its businesses that are not cannabis related to its shareholders.  This means that each shareholder of SAGD as of the date of the spin off, will also receive a stock dividend representing shares in the new entity which will contain all of current businesses of SAGD that are not related to cannabis.  These businesses include, SmartLicensee, BITmineshaft, and the recently signed acquisitions of  ASK A.B.E. and CarRights.com (signed on July 24th, 2017, public information to be released shortly). In addition, all non-cannabis assets, LOIs, and acquisitions that are presently being explored or pursued  will be included in this spin-off entity. SAGD President, David Reeves, stated, \"This is a very exciting time to be an SAGD shareholder.  Since each shareholder will now receive a stock dividend, each SAGD shareholder will increase their holdings of SAGD products.  I am tremendously excited to lead this new company into its next phase of accelerated and explosive growth.  I will also continue to run the businesses remaining inside SAGD on an interim basis.  We have already begun a nationwide search for a premier executive to lead SAGD’s cannabis related businesses and I’ll be assisting in that process as well.” SAGD will be making additional announcements on the logistics of this spin off strategy.  It is expected that the spin-off will occur sometime within the next 30 to 60 days.  About South American Gold Corp: South American Gold Corp is a publicly traded company on the OTC under the symbol SAGD, focused on enhancing shareholder value by acquiring and operating undervalued assets. For more information: Corporate Website: www.sagdcorp.co Media contact: [email protected] General contact: [email protected] Disclaimer: This release contains forward-looking statements that are based on beliefs of South American Gold Co...