Four Corners Advisory Notice

Rhea-AI Summary

Four Corners, Inc. (OTC PINK:FCNE) has completed the sale of assets of K&B Sales, Inc. and announced the dissolution of the company, with an initial liquidation distribution of $1.75 per share to be paid on November 9, 2023, to shareholders of record on October 27, 2023.

DALLAS, TX / ACCESSWIRE / November 7, 2023 / On September 26, 2023, Four Corners, Inc. (OTC PINK:FCNE) announced that it closed on its sale of substantially all of the assets of K&B Sales, Inc. to All Saints Texas, LLC.

Following the completion and as a result of the asset sale, the Board of Directors and the majority of the Company's shareholders consented to approve the dissolution of Four Corners, Inc. and its subsidiaries (the "Company").

On October 9, 2023, the Company announced a schedule for liquidating distributions.

On October 17, 2023, the Company filed an Issuer Company Related Action Notification with FINRA announcing the record and pay dates for the initial liquidation distribution. As detailed in the notification, the initial liquidation will be paid on November 9, 2023, to shareholders of record on October 27, 2023. These details have been published on the OTC market's website at www.otcmarkets.com (search the ticker symbol FCNE under the "Securities Details" section).This initial distribution will be $1.75 per share and will be processed by the Company's transfer agent. The Company will continue to wrap up the affairs of the organization and will make a final distribution once all the funds have been received from escrow and final expenses have been paid. Currently there is no timeline for the final distribution, but shareholders of record as of October 27, 2023, will be eligible for this final liquidating distribution. Shareholders are advised that the final distribution will only be a few cents per share.

Be advised that only shareholders of record as of October 27, 2023, are entitled to any liquidating distributions.

On October 24, 2023, the Company filed a Certificate of Dissolution with the State of Nevada. The Company has also filed a Plan of Liquidation and Dissolution with the Depository Trust and Clearing Corporation.

You can find financial information on Four Corners, Inc. including quarterly and annual reports at www.otcmarkets.com (search under the ticker symbol FCNE).

For More Information Contact:

Glenn Goulet
512-657-2187

About Four Corners, Inc.

Four Corners, Inc. is a holding company providing consumable bingo supplies and technology and operational solutions to the licensed charitable bingo market in Texas. Headquartered in Dallas, Four Corners has offices in Houston, San Antonio, Corpus Christi, and Lubbock.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" as defined in the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance, but instead are based only on our current beliefs, expectations, and assumptions regarding the future of our business, plans and strategies, projections, anticipated events and trends, the economy, and other future conditions, as of the date this press release is issued. Forward-looking statements are subject to inherent risks, uncertainties, and changes in circumstances that are often difficult to predict and many of which are beyond our control. Our actual results and financial condition may differ materially from those indicated in forward-looking statements.

SOURCE: Four Corners, Inc.

View source version on accesswire.com:
https://www.accesswire.com/800501/four-corners-advisory-notice

FAQ

What is the ticker symbol of Four Corners, Inc.?

The ticker symbol is FCNE.

When will the initial liquidation distribution be paid?

The initial distribution of $1.75 per share will be paid on November 9, 2023.

Who is eligible for the final liquidating distribution?

Shareholders of record as of October 27, 2023, will be eligible for the final distribution.

What is the amount of the final liquidating distribution?

The final distribution is expected to be only a few cents per share.

Where can I find financial information on Four Corners, Inc.?

Financial information can be found at www.otcmarkets.com under the ticker symbol FCNE.