NUGL Announces Return to Treasury of 10,000,000 Preferred Shares and 5,000,000 Common Shares
The Company positions itself for future growth while building long-term shareholder value
Los Angeles, California--(Newsfile Corp. - June 20, 2019) - NUGL Inc. (OTC Pink: NUGL), a technology and multimedia platform for the cannabis industry, is pleased to announce the cancellation of outstanding shares of common and preferred stock in an effort to increase overall shareholder value.
The Company is pleased to announce it has taken all necessary action to cancel and return to treasury all 10,000,000 outstanding Preferred Shares and 5,000,000 Common Shares effective June 20, 2019.
As a result of the cancellation and return to treasury, effective June 20, 2019, the Company will have 41,442,284 shares of common stock and 0 shares of preferred stock issued and outstanding.
"The company is growing rapidly and last quarter we posted record financials," stated CJ Melone, NUGL founder. "With two successful media acquisitions under our belt, Professional Marijuana Grower and Garden & Greenhouse, and the launch of NUGL MD, we are securing our place in the cannabis sector as a technology leader. As always, we govern our public company structure and operations with shareholder value as a primary objective.
"With an eye for future acquisitions, we believe this restructuring allows us to build shareholder value and progress towards achieving our 2019 initiatives. I look forward to updating our shareholders over the coming weeks with additional information," added Melone.
NUGL is the world's first cannabis search app built for the people, by the people. Our goal is to build the most user-friendly app experience in the cannabis industry by listening to our users and giving them what they want. NUGL is the only cannabis search app that offers equal and unbiased search results. We don't sell top-spot listings or fake reviews, so our data stays true. Use NUGL to search for genuine user-rated dispensaries, strains, doctors, lawyers, cannabis service providers, vape shops, hydro stores, brands and more. NUGL's flexible web app has no geographic limitations and can rapidly connect cannabis companies, related vertical services and users. The NUGL iOS and Android app brings a powerful cannabis search tool within reach of anyone, anytime, anywhere with the ease of a smartphone.
For more information and updates, visit one of the links below.
Instagram (IG): https://www.instagram.com/nuglofficial/
Facebook (FB) - https://www.facebook.com/nuglapp/
Twitter (TW) - https://twitter.com/nuglapp
LinkedIn (LI) - https://www.linkedin.com/company/nuglapp/
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: "plans", "anticipates," "expects," "believes" or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in the company's business plan and filings with the OTC Markets Group.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45760