Mushrooms Inc. (OTC: MSRM) Announces Significant Share Buy Back by the Board Director and New Strategic Initiatives
Mushrooms Inc. (OTC: MSRM) has announced a significant share buyback by one of its board directors, Donald Steinberg, who purchased 5 million shares. This transaction involved no loans or costs to the company and aims to prevent further dilution by allocating these shares for strategic initiatives. CEO Kimberly Carlson emphasized the director's purchase as a commitment to shareholder value and company growth. Additionally, Mushrooms Inc. is set to ship mycelium-based materials to Germany for the development of a bacterial detection bandage in late July or early August, highlighting their innovation in sustainable healthcare solutions.
- Board director purchased 5 million shares, indicating confidence in the company.
- No loans or costs involved in the share buyback, maintaining financial stability.
- Share buyback prevents further dilution, benefiting existing shareholders.
- Commitment to non-dilution since September 2023.
- Upcoming shipment of mycelium-based materials for innovative bacterial detection bandage.
- Development of sustainable healthcare solutions.
- Advancing global health through innovative products.
- Potential overreliance on strategic initiatives and new products for future growth.
- Market perception might be affected by the emphasis on non-dilution as a key strategy.
ESTERO, Fla., June 05, 2024 (GLOBE NEWSWIRE) -- via IBN – Mushrooms Inc. (OTC: MSRM), a leading innovator in biotechnology and sustainable healthcare solutions using mushrooms and mycelium, is pleased to announce that our board director has purchased 5 million shares of stock from an affiliate.
There were no loans or costs to the company for this transaction. The director has allocated this stock for use in advancing the company’s strategic initiatives, thereby preventing further dilution.
“Our director’s purchase of these shares is a major accomplishment in positioning Mushrooms Inc. for future growth and success,” said Kimberly Carlson, CEO of Mushrooms Inc. “This move is a win for our shareholders, who have shown steadfast support despite stock fluctuations. It underscores our commitment to leveraging our resources effectively to drive the company forward.”
Donald Steinberg, Board Director says “I feel that by purchasing shares from this affiliate will reduce the amount of shares being sold into the market each quarter which was having a negative effect on shareholder value. I intend to use these shares for necessary issuances to new people as they come on board to help the company move ahead”.
Strategic Use of Shares
The director is committed to utilizing the acquired shares to support moving the company forward and continuing the trend of non-dilution which the company has upheld since September of 2023.
Upcoming Shipment and Innovation
In addition to this significant transaction, Mushrooms Inc. is proud to announce the development and upcoming shipment of mycelium-based materials to the research team in Germany, in late July or early August. This shipment marks the first step in the development of our innovative bacterial detection bandage. This groundbreaking product highlights our dedication to creating sustainable healthcare solutions and advancing global health.
About Mushrooms Inc.
Mushrooms Inc. (OTC: MSRM) is a publicly traded company on the OTC Markets with the stock symbol MSRM and is the first industrial mushroom company to be listed on a public exchange. Mushrooms Inc. is a pioneering biotech company, deeply entrenched in the world of mycology. Our primary mission is to harness the transformative potential of Mycelium, especially for groundbreaking applications in the healthcare sector. Our dedicated R&D endeavors are underpinned by advanced technology, ensuring rigorous testing and validation of the manifold health benefits of mushrooms, thereby leading to the formulation of scientifically backed supplements.
Our recent patent underscores our innovation-driven ethos, detailing novel methods for bacterial detection and nutrient delivery using mycelium. This patent stands as a testament to our commitment to intertwining age-old wisdom with contemporary technological advancements, aiming to revolutionize healthcare interventions and amplify overall well-being. Inspired by the vision and resilience of mycology pioneers, Mushrooms Inc. establishes robust partnerships, resulting in products that champion both human health and environmental sustainability.
Safe Harbor Statement
This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance or guarantee that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may," "will," "should," "could," "expect," "anticipate," "estimate," "believe," "intend," or "project" or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to: adverse economic conditions, competition, adverse federal, state and local government regulation, international governmental regulation, inadequate capital, inability to carry out research, development and commercialization plans, loss or retirement of key executives and other specific risks. To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, future milestones, plans, intentions, goals, future financial conditions, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
Corporate Contact
CEO: Kimberly Carlson
Tel: (239) 273-1194
Email: info@mushroomsinc.com
Website: www.mushroomsinc.com
For additional information about our products, initiatives, and partnerships, please visit our website or contact our investor relations department.
Prior Press Releases
- Mushrooms Inc. (OTC:MSRM) Launches New Health Supplements, Progresses with German Partnership, and Boosts Engagement Initiatives
- Mushrooms Inc. (OTC:MSRM) expands on full patent filing for Nutrient-Delivery Textile Innovation, MYCOThread
- Announces Full Patent Filing for Groundbreaking Mycelium Technology Providing Bacterial Detection and Nutrient Delivery
- Announces Diverse Business Development Team Assembled to Drive Company Growth
- Poised for Textile Innovation and Global Impact as Full Patent Filing for Mycelium Thread Nears Completion
- CEO, Kimberly Carlson, Discusses Exciting Potential of Industrial Mushroom Industry on Psychedelic Spotlight Podcast
- Announces Plan for Acquisitions and Vertically Integrated Business Development by Partnering with diversified Mushroom Market Leaders
- Mushrooms, Inc. Announces Name and Ticker Symbol Change on O_T_C_ _M_a_r_k_e_t_s_ _t_o_ _“M_S_R_M_” _
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FAQ
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