Golden Grail Beverages Lowers Authorized Common Stock

Rhea-AI Summary

Golden Grail Beverages Corp. (OTC: GOGY) has announced a significant change to its corporate structure. The company will amend its articles of incorporation to reduce its authorized Common Stock from 5 billion to 500 million shares, representing a 90% decrease. This move is part of a broader plan to restructure the company's capitalization and benefit current shareholders.

Interim CEO Scott Lomu stated that this change aims to align the capital structure with planned acquisitions and create an anti-dilutive, pro-market investor common stock structure. The company has committed to not increasing authorized Common Stock for at least two years, emphasizing its focus on maximizing shareholder value and limiting dilution except for material acquisitions.

Positive

• 90% reduction in authorized Common Stock from 5 billion to 500 million shares
• Commitment to not increase authorized Common Stock for two years
• Alignment of capital structure with planned acquisition strategy
• Focus on maximizing shareholder value and limiting dilution

Negative

• None.

FT. LAUDERDALE, Fla., Aug. 29, 2024 /PRNewswire/ -- Golden Grail Beverages Corp. (OTC: GOGY – hereinafter referred to as the "Company"), a leader in the beverage industry known for its innovative and sustainable products, has will be amending its articles of incorporation to lower its authorized Common Stock from 5,000,000,000 shares to 500,000,000 shares. 

Mr. Scott Lomu (Interim CEO of the Company), states… "This amendment to our articles of incorporation, which will lower our authorized common stock from 5,000,000,000 to 500,000,000 shares of Common Stock, is part of a plan to restructure our corporate capitalization which will benefit current shareholders. This is a 90% decrease in our authorized shares of Common Stock. It is being done to make our capital structure to be more in line with our planned acquisition schedule, and put in place an anti-dilutive, pro-market investor common stock structure. Moving forward, all proposed material equity related transactions will be viewed first and foremost through the lens of the maximization of shareholder value.

"Once the authorized Common Stock is lowered, the Company has agreed not to not conduct an increase in the amount of authorized Common Stock of the Company for a minimum period of two calendar years. The primary goal of lowering our authorized common stock is to let our market shareholders know that we have no intention of diluting their respective holdings except with regards to material acquisitions. This capital change will leave enough common stock unissued to allow for our planned acquisitions that are now being negotiated. As we grow through acquisition, we want the public to know that we have one goal, to maximize shareholder value."

Disclaimer Regarding Forward Looking Statements 

Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements.

About Golden Grail Beverages

Golden Grail Beverages is a rapidly expanding company dedicated to acquiring, innovating, and scaling a diverse portfolio of beverages. With a focus on sustainability and consumer engagement, Golden Grail is committed to providing high-quality, energizing, and refreshing drinks to its customers. For more information, visit https://goldengrailbeverages.com/ 

Contact Information

https://goldengrailbeverages.com/
https://www.facebook.com/GoldenGrailBeverages
https://www.instagram.com/goldengrailbeverages/
https://twitter.com/goldengrailbev 

View original content:https://www.prnewswire.com/news-releases/golden-grail-beverages-lowers-authorized-common-stock-302234141.html

SOURCE Golden Grail Beverages

FAQ

What is the new authorized Common Stock limit for Golden Grail Beverages (GOGY)?

Golden Grail Beverages (GOGY) is lowering its authorized Common Stock from 5,000,000,000 shares to 500,000,000 shares, a 90% reduction.

How long has Golden Grail Beverages (GOGY) committed to not increasing authorized Common Stock?

Golden Grail Beverages (GOGY) has committed to not increasing the amount of authorized Common Stock for a minimum period of two calendar years.

What is the primary goal of Golden Grail Beverages (GOGY) in reducing its authorized Common Stock?

The primary goal is to assure market shareholders that the company has no intention of diluting their holdings except for material acquisitions, and to maximize shareholder value.

Who announced the authorized Common Stock reduction for Golden Grail Beverages (GOGY)?

The authorized Common Stock reduction was announced by Mr. Scott Lomu, the Interim CEO of Golden Grail Beverages (GOGY).