Four Corners, Inc. Announces Schedule for Liquidating Distribution

Rhea-AI Summary

Four Corners, Inc. announced the approval of its dissolution by the Board of Directors and shareholders. The initial liquidating distribution is expected to be $1.75 per share in the next three to six weeks. The final distribution will be a few cents per share.

Positive

• The approval of the dissolution could positively affect the stock price in the short term.

Negative

• The final distribution being only a few cents per share may negatively impact the stock price.

DALLAS, TX / ACCESSWIRE / October 9, 2023 / Four Corners, Inc. (OTC Pink:FCNE) announced today that the Board of Directors consented on September 26, 2023, to approve the dissolution of Four Corners, Inc. and subsidiaries (the Company). An overwhelming majority of shareholders have now also consented to dissolve the Company. The actual date of dissolution is still to be determined, but is expected to be within six months.

The Company plans to make an initial liquidating distribution in the next three to six weeks. The distribution will be approximately $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. The Company 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 are advised that the final distribution will only be a few cents per share.

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

Contact: Glenn Goulet at 512-657-2187 or ggoulet@fourcornersinc.com

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/791352/four-corners-inc-announces-schedule-for-liquidating-distribution

FAQ

What did Four Corners, Inc. announce?

The company announced the approval of its dissolution by the Board of Directors and shareholders.

When will the initial liquidating distribution be made?

The initial liquidating distribution is expected to be made in the next three to six weeks.

What will be the amount of the initial liquidating distribution?

The initial liquidating distribution is expected to be approximately $1.75 per share.

What will be the amount of the final distribution?

The final distribution will only be a few cents per share.

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

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