IJJ Corporation Announced the Reduction of Authorized Shares by 500,000,000
13 March 2015 - 12:45AM
IJJ Corporation (OTC:IJJP.PK) today announces that its Board of
Directors has completed a reduction in authorized common shares by
Five-hundred Million (500,000,000).
President and CEO, Clifford Pope, states, "In keeping with our
commitment to our loyal shareholders, IJJ Corporation has reduced
its authorized shares by Five-hundred Million (500,000,000),
effective Wednesday, March 11, 2015. This action reduces our
authorized shares from Three Billion (3,000,000,000) to Two Billion
Five-hundred Million (2,500,000,000) shares."
IJJ Corp has recently announced an agreement for the redemption
of 395,838,451 free trading shares to be retired to the treasury.
These reductions will contribute toward bringing substantial value
to the company, far exceeding the current shares that are issued.
The new share structure reductions will be updated on OTC Markets
after the Nevada Secretary of State and the Transfer Agent complete
their appropriate Administrative processes. After these changes
have been executed, the complete share structure will be as
indicated:
Authorized Shares will be - 2,500,000,000 shares
Outstanding Shares will be - 1,819,307,525 shares
Restricted Shares will be - 395,838,451 shares
Float Shares will be: - 1,423,469,074 shares
IJJ Corp had previously announced its original court-ordered
amount of stock for the Medical Marijuana expansion projects was
not to exceed 2,094,857,143 shares of common stock. That number was
itself reduced to not exceed 1,020,867,796 shares. The final action
taken reduces the number of shares to 625,029,345 that will be used
to support the marijuana expansion projects.
Currently only 138,383,928 of the 625,029,345 IJJ Corp shares
have been issued and placed into the market. No more than 30% of
shares per Property Interest Exchange (PIE) Recipient are allowed
to be placed into the market at any given time to support the
marijuana expansion product. The company is preparing to update
shareholders on the distribution of funds going toward the
marijuana expansion program.
"IJJ Corp's targeted capitalization program aims to expand our
company's partnership business directive without doing a reverse
split while IJJ Corp remains debt free. We realize that trying to
raise capital using the 504 exemption, convertible debentures, or
any toxic dilutive forms of financing are unacceptable methods for
generating working capital for the company," states Clifford Pope,
President, and CEO of IJJ Corporation.
IJJ Corp's transfer agent is Transfer Online. It is the Transfer
Online policy to not release share structure information to
shareholders requesting such an update. IJJ Corp will keep regular
share structure updates on
its www.cannabisheadliners.com website and on its OTC
Markets Profile.
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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