Buyer Group International, Inc. Announces Cancellation of 1 Billion Shares Reducing the Total Outstanding Common Shares by 12%

Rhea-AI Summary

Buyer Group International announced the cancellation of 1.05 billion shares, reducing total outstanding common shares by 12%. This move aims to increase shareholder value. The reduction includes 100 million free-trading shares, cutting the float by over 542 million shares since last year. Previous cancellations include 75 million shares in May 2024 and sizable reductions in January, December, and April 2023. CEO Dave Bryant stated that this aligns with the company's long-term commitment to enhancing shareholder value and reducing outside influence. Future updates include major permitting decisions and survey findings related to Project Shambhala.

Positive

• Cancellation of 1.05 billion shares reduces total outstanding shares by 12%.
• Reduction includes 100 million free-trading shares, cutting the float by over 542 million shares.
• Consistent share reduction efforts demonstrated with several successful cancellations since April 2023.
• CEO asserts confidence in the company's future potential and commitment to long-term shareholder value.

Negative

• No direct mention of immediate financial benefits or revenue increases from share cancellations.
• Share cancellations could indicate previous over-issuance or mismanagement of shares.
• Future plans are dependent on external factors like permitting decisions and survey findings.

SHERIDAN, WY / ACCESSWIRE / June 17, 2024 / Buyer Group International, Inc. (OTC Pink:BYRG), a junior miner company focused on its flagship The Shambhala Project, which has approximately 2.65 square miles of mineral rights in the New Rambler Mining District in Albany County, Wyoming, is pleased to announce that it has completed the cancellation of one billion, fifty million (1,050,000,000) shares of common stock retired back to the Treasury. This reduces the overall outstanding share structure by 12%. 100 million of those shares were free trading, reducing the float by over 542 Million shares since last year.

This reduction in the outstanding share structure is the latest in a series of share reductions aimed at increasing value for all of our shareholders.

The number of successful cancellations to the OS in the previous 12 months is

• 75 million shares on May 24, 2024 Free Trading
• 117 million shares on January 26, 2024 Free Trading.
• 250 million shares on January 19, 2024 Free Trading.
• 1.0 billion shares on December 22, 2023 Restricted.
• 1.4 billion shares on April 21, 2023 Restricted.

Buyer Group International Inc. CEO Dave Bryant commented, "As part of our ongoing commitment to increasing shareholder value, I am pleased to announce that, through legal process, we have successfully reduced the number of outstanding shares while reducing the float, as well as our exposure to unscrupulous outside influence." This was a huge win for both the BYRG team and our loyal investors. We are gradually removing previous mistakes and replacing them with critical components worthy of the shares and success they offer. This decision represents our confidence in the company's future potential as well as our commitment to providing long-term value to our shareholders. By removing these shares from the market, we hope to improve the attractiveness of BYRG as a long term play, improve our stock price and make our company an even more appealing investment for private investors supporting Project Shambhala. We appreciate your ongoing trust and support as we take these important steps forward.

Stay tuned for further information as we await a major permitting decision and the findings of the USGS magnetic and radiometric survey completed during the Medicine Bow Mountains flyover in summer 2023. Furthermore, we will continue making consistent progress in reducing the total number of outstanding Buyer Group shares, which will increase value for all of our shareholders."

About Buyer Group International, Inc.

Buyer Group International, Inc. is targeting exploration at its flagship mining project Shambhala in Albany County, Wyoming. The Shambhala Project consists of 84 lode claims, 2.65 square miles in the historic New Rambler District. The district is located near the south edge of the Cheyenne Belt, a noted Greenstone Belt of the Medicine Bow mountains, which contains various concentrations of rare minerals.

To learn more about Buyer Group International, Inc. also visit:

Corporate Website: https://frontierplatinumgroup.com/
Corporate Twitter: https://twitter.com/buyergroupinc
Corporate LinkedIn: https://www.linkedin.com/company/byrg/
Corporate Instagram: https://www.instagram.com/buyergroupinternationalinc/
Corporate Facebook: https://www.facebook.com/profile.php?id=100091509813233
OTC Stock Market Information: https://www.otcmarkets.com/stock/BYRG/overview

FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause materially different results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/BYRG/disclosure

CONTACT:

Buyer Group International, Inc.
Phone: 214-810-1317
Email: byrg.group@gmail.com

SOURCE: Buyer Group International, Inc.

View the original press release on accesswire.com

FAQ

What impact does the cancellation of 1.05 billion shares have on BYRG's stock?

The cancellation reduces outstanding shares by 12%, potentially increasing shareholder value and improving stock price attractiveness.

When did Buyer Group International announce the share cancellations?

The announcement was made on June 17, 2024.

How many shares has BYRG cancelled in the last 12 months?

BYRG cancelled over 1.9 billion shares in multiple steps since April 2023.

Why is Buyer Group International reducing its number of outstanding shares?

BYRG aims to increase shareholder value, reduce free-floating shares, and eliminate outside influence.

What upcoming events could impact BYRG's future?

Future updates include a major permitting decision and findings from the USGS survey related to Project Shambhala.