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CannaGrow Holdings Files Notice of Corporation Action With Delaware Secretary of State to Reduce Authorized Shares of Company Common Stock
CannaGrow Holdings Files Notice of Corporation Action With Delaware Secretary of State to Reduce Authorized Shares of Company Common Stock.
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[{"type":"text","content":"\n \n \n CannaGrow Holdings Files Notice of Corporation Action With Delaware Secretary of State to Reduce Authorized Shares of Company Common Stock\n \n \nCannaGrow Holdings Files Notice of Corporation Action With Delaware Secretary of State to Reduce Authorized Shares of Company Common Stock\n \n CENTENNIAL, CO--(Marketwired - Aug 11, 2015) - CannaGrow Holdings, Inc. (OTC PINK: CGRW) -- A Liaison and Consultant providing Turn-Key solutions to licensed Growers announces the Company files a corporate action with the Delaware Secretary of State whereby amending its articles of incorporation on Tuesday, August 11, 2015. \n Delmar Janovec, CannaGrow CEO, comments, \"The Company filed with the Delaware Secretary of State Division of Corporations on August 11, 2015 whereby the Company amended its Articles of Incorporation upon receiving written consent by more than 70% of the shareholders of the Company. The amendment will decrease authorized common stock of CannaGrow Holdings, Inc. from Five Hundred Million (500,000,000) shares to Three Hundred Million (300,000,000) shares with an effective date of September 22, 2015. Shareholders of record as of August 7, 2015 will be provided a Notice of the Corporate Action pursuant to Delaware State requirements.\n We believe reducing the authorized common stock the Company is able to issue will enhance the shareholder value and build investor confidence. Over the last fourteen (14) months the company has reduced its authorized shares three (3) times. The Company has also reduced its issued & outstanding shares by twenty five million (25,000,000), bringing the total issued & outstanding to One Hundred Two Million Seventy-Three Thousand and Four Hundred Thirty-Four (102,073,434) shares. We strongly believe maintaining a non-dilutive share structure is fundamental to building and maintaining shareholder value. There have been no free trading shares issued by the company since June 30, 2014. The Company does not anticipate new issuances of free trading stock nor any conversations of convertible notes over the next twelve (12) months.\"\n Outstanding Shares\n 102,073,434 a/o Mar 31, 2015\n Float\n 25,762,901 a/o Mar 31, 2015\n ABOUT CANNAGROW HOLDINGS: \n CannaGrow Holdings, Inc. has entered the Medical/Recreational Cannabis Industry as a Lessor, Liaison, and Consultant to lice...