Trinity Resources Inc. Alters Its Share Structure to More Easily Accommodate and Conclude Potential Business Transactions

February 07, 2022 6:34 PM EST | Source: Trinity Resources Inc.

Las Vegas, Nevada--(Newsfile Corp. - February 7, 2022) - TRINITY RESOURCES INC. (OTC Pink: TRRI) (the "Company") announces that by approval of a majority of shareholders and the Board of Directors, it is increasing its authorized preferred stock in order to seek funding to further its business plan while it continues to broaden its opportunities into the healthcare industry.

On January 27, 2022, a majority of the shareholders of the Company approved increasing the authorized preferred stock to 70,000,000 shares of preferred stock with a par value of $0.00001. This increase was also unanimously approved by the Board of Directors. These authorized preferred shares are divided into 20,000,000 shares of Series A Convertible Preferred Stock and 50,000,000 shares of Series B Convertible Preferred Stock.

The Series A Convertible Preferred Stock will have priority liquidation rights up to a maximum of fifty cents per share. These shares convert into common stock on a one-for-one basis and mature 10 years from their date of issuance. They also include piggyback registration rights. The Series B Convertible Preferred Stock will not have any liquidation rights. These shares convert into common stock on a one-for-one basis and mature 15 years from their date of issuance, and also have piggyback registration rights. Holders of Series B Convertible Preferred Stock may convert their shares to the extent that after such conversion, they would not hold more than 4.9% of the shares of common stock outstanding immediately following the conversion.

On January 28, the Company submitted a Certificate of Amendment to the Delaware Secretary of State to effect this change in its authorized stock. Through use of these authorized preferred shares, the Company's management believes it will be able to better attract funding from various key sources.

Forward Looking Statements:

This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.

Contact:
Robert Rosner, President
Trinity Resources Inc.
info@trinresinc.com
www.trinresinc.com

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