Global Arena Holding Initiates 1 for
12 Reverse in Support of Potential Capital and Growth
Endeavors
NEW YORK, NY
-- June 21, 2022 -- InvestorsHub NewsWire -- Global
Arena Holding, Inc. (the "Company") (OTC
Markets:
GAHC), a growth oriented,
acquisition minded company focused on specific niche markets
offering exponential growth, is announcing that at a Special
Meeting of the Board of Directors was held on June 10, 2022, and
the Directors addressed the shareholder approval for the 1 for 12
reverse, while discussing the 2021 annual Shareholders meeting. In
discussing the need to move forward with the 1 for 12 reverse
split, the Directors considered the potential lack of an ability to
attract new employees, retain and motivate current employees, and
raise potential capital for current acquisitions, mergers, or
investments.
Prior to its
annual 2021 Shareholder Meeting, the Company had filed the required
Schedule 14A which included the proxy statement and proxy with the
Securities Exchange Commission, and hearing no comments, created a
record date of July 8th, 2021. The Company then mailed, and
electronically posted its proxy statement and proxy through third
party companies Broadridge, Mediant and Clear Trust, notifying all
shareholders of the proposals, and the location of the annual
meeting of the Company, which was held at the Kimberly Hotel, 145
E. 50th Street, New York, New York 10022 at 9:00 a.m. local time,
on September 7, 2021.
In the proxy
statement, the Directors clearly discussed the proposal for
shareholders to authorize the Company to effectuate a 1 for 12
reverse split of all outstanding common shares.
Clear Trust
LLC, which acted as the Company's independent 3rd party transfer
agent and election administrator reported after the Company reached
quorum the following result;
PROPOSAL TO
AUTHORIZE REVERSE STOCK SPLIT:
YES:
76.577%
752,850,022 Common shares
NO:
23.322%
229,283,640 Common Shares
ABSTAIN:
0.101%
992,370.0 Common Shares
At that
Special Meeting of the Board of Directors held on June 10, 2022, in
order to facilitate potential capital for current acquisitions,
mergers, or investments, and with Shareholder Approval, the
Directors hereby authorized GAHC to effectuate the 1 for 12 reverse
split of all outstanding common shares. This action will also reset
conversion prices of existing convertible debt, raising them in
accordance with the 1 for 12 reverse.
GAHC filed
the required FINRA Issuer Corporate Action Notification on June 17,
2022, and is awaiting its review and comments.
ABOUT GAHC
Global Arena
Holding, Inc. trades on the OTC Markets, under the ticker symbol
GAHC. The Company has been publicly traded since 2011 and holds a
number of interests, including Global Elections Services, Inc.,
Tidewater Energy Group Inc., and GAHI Acquisition Corp. Please find
the Company's filings at
SEC.gov.
ABOUT Global Election Services, Inc. (GES)
Owned
by Global
Arena Holding Inc., GES provides
comprehensive technology-enabled election services to organizations
such as craft and trade organizations, labor unions, political
parties, co-operatives and housing organizations, associations and
professional societies, universities, pension funds and credit
unions, and entertainment organizations. GES senior management has
been supervising elections since 1981, having managed more than
Eight Thousand Six Hundred (8,600) election projects involving over
Forty Million (40,000,000) voters, certifying each labor election
with the U.S. Department of Labor. The primary method of voting for
GES elections is Paper Mail Ballots. No election supervised by GES
or its senior management has ever been overturned by the U.S.
Department of Labor. Management has an extremely strong reputation
in the market and a very extensive, longtime customer list. Our
mission is to help our clients conduct efficient, accurate, secure
and less costly elections with greater participation. As a viable
independent third party managing each election, we work to increase
methods and rates of participation while maintaining the One Voter
= One Vote Integrity that our management team has been committed to
for nearly 4 decades.
Safe Harbor Statement
The Private
Securities Litigation Reform Act of 1995 provides a "safe harbor"
for forward-looking statements. Certain information included in
this press release contains statements that are forward-looking,
such as statements related to the future anticipated direction of
the industry, plans for future expansion, various business
development activities, planned or required capital expenditures,
future funding sources, anticipated sales growth, and potential
contracts. Such forward-looking information involves important
risks and uncertainties that could significantly affect anticipated
results in the future and, accordingly, such results may differ
from those expressed in any forward-looking statements made by, or
on behalf of, the company. These risks and uncertainties include,
but are not limited to, those relating to development and expansion
activities, dependence on existing management, financing
activities, domestic and global economic conditions, and other
risks and uncertainties described in the Company's periodic filings
with the Securities and Exchange Commission.
CONTACT:
Global Arena
Holding, Inc.
208 East 51st
St.
Suite
112
New York, NY
10022
kathryn@globalarenaholding.com
Tel:
646-801-5524
www.globalarenaholding.com