Modern Mobility Aids Announces Cancellation of Over 61% of Issued and Outstanding Shares of Corporation
30 June 2014 - 11:00PM
Marketwired
Modern Mobility Aids Announces Cancellation of Over 61% of Issued
and Outstanding Shares of Corporation
TORONTO, ON--(Marketwired - Jun 30, 2014) - Nevada-based
Modern Mobility Aids, Inc. (PINKSHEETS: MDRM) (OTC Pink: MDRM) (the
"Company") announced today that it has cancelled 120,000,000
shares of the corporation and reached a Major Milestone in its
reorganization plan. The share certificate representing the
120 million shares is in the possession of the transfer agent for
cancellation. This reduces the total share count to 75,480,000, a
significant decrease in shares and a significant increase in
shareholder value. The company is now positioned to execute on its
expansion into the exciting Emerging Market of the Medical
Marijuana space.
Ken Pinckard, CEO of the Company, stated, "We are pleased to
have completed this milestone that now allows us to carry out our
mandate of the new business focus, the Multi Billion Dollar Medical
Marijuana space. Our team has been working diligently behind the
scenes and are excited that now we can start to release the news
flow to reflect that."
About Modern Mobility Aids, Inc.: Modern Mobility Aids, Inc. was
first incorporated under the laws of the State of Nevada on
December 19, 2007, under the name of Glider Inc. Its original
business plan was to sell and distribute products for
mobility-challenged individuals. The Company changed its name to
Modern Mobility Aids, Inc. on April 22, 2010 with initial plans to
distribute products for mobility-challenged individuals. In
February 2014, the business focus of the Company evolved with a
rapid expansion strategy in the life sciences and healthcare
industry, with a focus on production of Medical Marijuana. A
mandate was created to acquire companies within the biopharma and
alternative medicine sectors targeting both innovative research and
development as well as scalable licensed, manufacturing capacity in
three niche market segments.
Safe Harbor
This news release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(the "Act").In particular, when used in the preceding of
discussion, the words "anticipate," "pleased," "plan," "confident
that," "believe," "expect," "possible" or "intent to" and similar
conditional expressions are intended to identify forward-looking
statements within the meaning of the Act and are subject to the
safe harbor created by the Act. Such statements are subject to
certain risks and uncertainties and actual results could differ
materially from those expressed in any of the forward-looking
statements. There are no guarantees or assurances that any
proposals, initiatives or negotiations will result in what the
company had originally intended. Any investment made into Modern
Mobility Aids, Inc., would be classified as speculative and risky.
Such risks and uncertainties include, but are not limited to,
market conditions, general acceptance of the company's products and
technologies, competitive factors, the ability to successfully
complete additional or adequate financing, government approvals or
changes to proposed laws and other risks and uncertainties further
stated in the company's financial reports and filings.
CONTACT INFO: Modern Mobility Aids, Inc. Public Relations and
Shareholder Information investor@mdrmgroup.com
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