ParagonX to Retire 250M Outstanding Common Shares

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ParagonX Holdings has completed a major transaction to retire 250 million shares of its common stock, reducing the outstanding common shares by approximately 15%. The company aims to increase shareholder value and believes this transaction is a clear indication of its future plans. More updates are expected soon.

CHARLOTTE, N.C., July 27, 2023 /PRNewswire/ -- ParagonX Holdings (OTC: CAVR) ("ParagonX" or the "Company") today announced that it has completed a major transaction to retire 250 million shares of its common stock. The retirement of these shares will reduce the outstanding common shares by approximately 15%. This transaction is expected to be reflected in its outstanding share balance with the transfer agent within the coming days.

"The completion of this goal in our transformation is another example of the Company's commitment to increasing shareholder value and a further step towards our outsized goals.  With the recent acquisitions, this transaction is a clear indication of our belief in the Company's future and our upcoming plans," said Grant Edwards, President & Chief Financial Officer.

The Company expects to release more updates soon as the completion of this phase lays the groundwork for further growth.

PARAGONX HOLDINGS:

ParagonX is a platform land development and construction company with multiple subsidiaries as outlined in its respective OTC filings. The Company is a Nevada corporation and was founded in the late nineties. The Company website is www.ltbh.com. 

FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including statements that include the words "expect," "intend," "plan," "believe," "project," "forecast," "estimate," "may," "should," "anticipate" and similar statements of a future or forward-looking nature. These forward-looking statements are based on management's current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements for any reason except as required by law.

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SOURCE ParagonX Holdings

FAQ

What is the recent announcement from ParagonX Holdings?

ParagonX Holdings has completed a major transaction to retire 250 million shares of its common stock, reducing the outstanding common shares by approximately 15%.

What is the expected impact of the share retirement?

The retirement of shares is expected to reduce the outstanding common shares by approximately 15%.

What does ParagonX Holdings aim to achieve with this transaction?

ParagonX Holdings aims to increase shareholder value and believes this transaction is a clear indication of its future plans.

Are there any upcoming updates from the company?

Yes, the company expects to release more updates soon as this transaction lays the groundwork for further growth.