Solanbridge Group Inc. Announces the Change in Share Structure of the Company
April 24 2014 - 12:18PM
Business Wire
The Board of Solanbridge Group Inc. (OTC: SLNX) announces that
on April 23, 2014, due to the commitment of Solanbridge Group Inc.
to the medical marijuana industry, the Company has cancelled and
retired 500 million common stock shares of SLNX. Those shares will
be returned to the Company’s Treasury immediately.
Concurrent with the announcement of the Company’s total share
reduction, the Company emphasizes that the long-term goal of the
Company is to reduce the number of common stock shares by another 1
billion common stock shares over the next two months—for a total
cancellation and retirement of 1.5 billion common stock shares.
Based upon the Company’s share structure announced in the Company’s
Annual Report, after total common stock share retirement, the
Company will have a total number of issued and outstanding shares
of approximately 949 million shares. The total number of shares to
be retired will not be removed from the float, but will come from
the holdings of the Company’s CEO, Mr. David M. Green. Mr. Green
will continue to run the operations of the restaurant.
The Company continues to pursue a commercial grower’s license in
Province of Nova Scotia. Plans have been developed to hire a
full-time staff member to administer the application process,
acquire a building, equip the building with a state-of-the-art
security system, and build out all aspects of a commercial medical
marijuana grower’s production facility. The share reduction will
provide the Company with access to common stock shares to raise
capital for the Company’s medical marijuana plans. The MOU signed
by the Company on March 29, 2014 still plans to close on time.
About Solanbridge Group Inc.
Solanbridge Group Inc. is based in Spring, Texas and is a
diversified holding company looking to expand into the medical
marijuana industry by developing a commercial grower’s license in
the Province of Nova Scotia, Canada. Solanbridge's subsidiary,
David's Steak and Seafood, in Melbourne Beach, Florida, is a
classic, upscale steak house, which presents polished dining in an
atmosphere of timeless elegance, offering guests the finest cuts of
choice USDA meats, fresh seafood and much more.
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as amended.
All forward-looking statements are inherently uncertain as they are
based on current expectations and assumptions concerning future
events or future performance of the company. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which are only predictions and speak only as of the date hereof. In
evaluating such statements, prospective investors should review
carefully various risks and uncertainties identified in this
release and matters set in the company's SEC filings. These risks
and uncertainties could cause the company's actual results to
differ materially from those indicated in the forward-looking
statements.
Solanbridge Group Inc.Charles R. Shirley,
832.225.1372charles@solanbridgegroup.com
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