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New York, NY, July 16, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Safer Shot, Inc. (OTC: SAFS), a developer of proprietary security and protection technology targeting the personal security market, today announces the first in a series of common share retirement transactions planned for 2019. On March 26, 2019 the Company announced its plan to reduce the outstanding common stock by 1.1 trillion shares.
The retirement and return to treasury of 250 million shares of the Company’s common stock was approved by the board of directors, thereby reducing the issued and outstanding common shares significantly. The share termination is immediately beneficial and reduces the amount of free-trading shares by several billion that, as a result, are now restricted under Rule 144 of the Securities Act of 1933.
The share retirement, as well as a recent authorization of a new class of preferred stock, are part of an ongoing recapitalization effort to prevent the necessity of a reverse split.
This press release contains statements that are forward-looking, and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Safer Shot, Inc.’s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Safer Shot, Inc.’s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Safer Shot, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Safer Shot, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Safer Shot, Inc.