ITOCO Gives Shareholders Stronger Say in Company’s Future

Rhea-AI Summary

ITOCO INC. (OTC:ITMC) has announced the cancellation of its existing voting block of shares, which previously allowed control by a single individual. This change is designed to enhance shareholder influence over the company’s future. CEO Michael Paul stated that this decision is a significant step toward improving shareholder input. Additionally, ITOCO is revising its agreement with its subsidiary, Colorful Euphoria, Lda, to clarify its role in managing growth in Europe and Africa, with completion expected by the month's end.

Positive

• Cancellation of voting block increases shareholder control.
• Revised agreement with subsidiary aims to clarify management roles.

Negative

• None.

TORONTO, ON / ACCESSWIRE / October 14, 2022 / ITOCO INC. (OTC:ITMC) is pleased to announce that it is cancelling the existing voting block of shares that allowed control of the company to be held by one individual, thereby giving all shareholders a stronger voice in the future of the company.

"This is something that was long overdue and provides our shareholders with the opportunity to have more input into the company's growth," says CEO and President Michael Paul.

The company also announces that it is revising its agreement with Colorful Euphoria, Lda, the subsidiary based in Lisbon, Portugal, which is managing the company's growth in Europe and Africa. The revised agreement, expected to be completed by or before the end of this month, will provide more clarity to Colorful Euphoria's role.

"ITOCO is building an exciting future and these decisions will strengthen the company's position moving forward," Mr. Paul says.

ABOUT ITOCO INC.

ITOCO's mission is to be a global leader in soil rehabilitation, carbon sequestering, and biofuel production for the Clean Energy sector. ITOCO has developed and is promoting its Soil Rescue Program in Europe and Africa. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 14-year-old publicly quoted Biotech company based in Toronto Canada, Lisbon Portugal and Nevada USA. ITOCO seeks to partner with outstanding individuals and companies within the land regeneration, climate change and bioenergy fields to joint venture, research, and co-develop related products and technologies to the market.

ITOCO Energy
ITOCO Soil Rescue
ITOCO Carbon Capture
ITOCO Climate Change

For further information, please contact our Investor Relations department at: stephen@itoco.net.

CONTACT:

Michael Paul, C.E.T.
President & CEO
ITOCO INC
ir@itoco.net

SOURCE: ITOCO Inc.

View source version on accesswire.com:
https://www.accesswire.com/720531/ITOCO-Gives-Shareholders-Stronger-Say-in-Companys-Future

FAQ

What changes is ITOCO INC. making to shareholder voting rights?

ITOCO INC. is cancelling its existing voting block of shares, allowing all shareholders a stronger voice in company decisions.

What is the significance of the revised agreement with Colorful Euphoria, Lda?

The revised agreement aims to provide clarity on Colorful Euphoria's role in managing ITOCO's growth in Europe and Africa.

What is ITOCO INC.'s stock symbol?

ITOCO INC. trades under the stock symbol ITMC.

When is the revised agreement with Colorful Euphoria expected to be completed?

The revised agreement is expected to be completed by or before the end of October 2022.