Sino Cement Inc. Announces Cancellation of 75% of Outstanding Shares
17 January 2013 - 7:06AM
Marketwired
Sino Cement Inc. (OTC PINK:OCEE). Mr. Marco Garduno, Director of
Sino Cement Inc. and controlling shareholder today announced that
he has returned to the treasury and cancelled 8,500,000 restricted
common shares representing approximately 3 of every 4 shares
outstanding for nil consideration. As a result, the outstanding
common shares were reduced on January 16th,2012 from 11,250,030 to
2,750,030 or a reduction of 75.55%.
The reduction in the outstanding shares are part of a planned
process whereby real estate assets are being purchased and share
cancellations are being effected in order to reduce the overall
outstanding shares and provide more value per share to the existing
shareholders.
The company announced in a previous press release dated December
13th,2012 the agreement to purchase a commercial office building
located in Lynbrook NY. Subsequent to this, the owner consummated
an offer to sell the rights to put antennas on the roof for $ 3.3
million. Accordingly the company contemplates entering into a new
purchase agreement that reflects this event, and will advise
shareholders in due course.
Certain statements in this press release that are not historical
facts are "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
may be identified by the use of words such as "anticipate,"
believe," "expect," "future," "may," will," "would," "should,"
"plan," projected," "intend," and similar expressions. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of FIMA Inc. (the Company) to be
materially different from those expressed or implied by such
forward-looking statements.
The above news release has been provided by the above company
via the OTC Disclosure and News Service. Issuers of news releases
and not OTC Markets Group Inc. are solely responsible for the
accuracy of such news releases.
Contacts: Sino Cement, Inc. Mr. Marco Garduno Chavez
1-403-830-7125 Sino Cement, Inc. Mr. Mack Frankel
1-403-830-7125info@sino-inc.com www.sino-inc.com
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