IJJ Corporation (IJJP.PK) Announces the Redemption of 395,838,451 Free Trading Shares to be Retired to the Treasury
26 February 2015 - 4:50AM
IJJ Corporation (Pink Sheets:IJJP) today announces an agreement to
redeem 395,838,451 free trading shares. This corporate action will
result in the reduction of the total number of Outstanding Shares.
The shares will be reacquired from participants in the Section
3(a)(10) proceeding filed with the Circuit Court for the 19th
Judicial Circuit Lake County, Waukegan, IL, whereby IJJ was able to
acquire the right to more than $2,100,000 in annual income from
legal marijuana cultivating operations. As a result of this action,
IJJ will retain the right to this income, but with far fewer shares
to be issued and outstanding.
Securities Counselors will file a court amendment to reflect
these changes. Additionally, the amendment will include the
Cannaworx project.
IJJ Corporation had originally announced its commitment of stock
for the Medical Marijuana expansion program was 2,094,857,143
shares and had previously announced that the number would not
exceed 1,020,867,796 shares. Today's announcement further reduces
that number to 625,029,345 IJJ shares. The 395,838,451 free trading
shares will be returned and retired to the treasury; thus reducing
the outstanding shares by a like amount.
"IJJ Corporation's targeted capitalization program is designed
to expand its partnership business directive. However, we will do
so in a strategic process that brings value to IJJ Corporation and
our shareholders, at the least possible cost, including share
issuances," states Clifford Pope, President, and CEO of IJJ
Corporation.
"The reductions reflect IJJ Corporation's commitment for our
fiduciary responsibilities to maximize shareholder value,"
concludes Mr. Pope.
About IJJ Corporation:
IJJ Corp is a full service business and management consulting
group promoting the union of companies to achieve their goals. Our
mission is focused on both Public and Private Business
professionals to increase resources designed to help organizations
succeed through partnerships and growth objectives.
Forward-looking statement
This press release contains statements which may constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933 and the securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of the Company and members of its management
as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking
statements. Investors are cautioned that due to the Company's
acquisition of the right to receive income from marijuana farming
operations, an investment in this Company is extraordinarily risky,
involving a multiplicity of extreme risks, that in some respects
exceed that of any legal investment in the history of investing,
particularly given the conflict of laws and the potential
consequences of that conflict, including very substantial legal
risk of federal prosecution, penalty and imprisonment, as marijuana
is still classified federally as a Schedule 1 narcotic.
CONTACT: info@ijjc.com
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