Metavesco Announces 100-for-1 Forward Stock Split
Rhea-AI Summary
Metavesco (OTC PINK: MVCO) has announced a 100-for-1 forward stock split of its common stock, effective December 23, 2024. Shareholders of record as of October 30, 2024, will receive 100 shares for each share held. Trading on a split-adjusted basis will begin on December 24, 2024.
The company has also increased its authorized shares from 600 million to 15 billion. According to CEO Ryan Schadel, this move aims to enhance shareholder value by increasing share liquidity and attracting a broader investor base. The company emphasizes its toxic debt-free status as a distinguishing factor in the OTC market.
Positive
- Maintains toxic debt-free status, indicating financial health
- Stock split could increase trading liquidity
- Potential to attract broader investor base
Negative
- Significant share dilution potential with authorized shares increasing from 600M to 15B
News Market Reaction 1 Alert
On the day this news was published, MVCO declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CUMMING, Ga., Dec. 20, 2024 (GLOBE NEWSWIRE) -- Metavesco, Inc. (OTC PINK: MVCO) ("Metavesco" or the "Company"), a trailblazing holding company dedicated to fostering growth in both digital and traditional sectors, is pleased to announce the implementation of a 100-for-1 forward stock split of its common stock. This transformative action underscores the Company’s commitment to creating long-term value for its shareholders.
Shareholders of record as of the close of business on October 30, 2024, will have their shares reclassified such that each share of common stock will convert into 100 shares of common stock. This adjustment will take effect after the close of trading on December 23, 2024, with the Company’s common stock beginning to trade on a split-adjusted basis on December 24, 2024.
Ryan Schadel, President and CEO of Metavesco, commented, “This forward stock split is a bold step forward and reflects our commitment to enhancing shareholder value. By increasing the liquidity of our shares, we aim to attract a broader base of investors while maintaining our solid financial position. Unlike many issuers with high liquidity driven by toxic convertible debt, Metavesco remains toxic debt-free, positioning us as a standout in the OTC market. This move aligns with our strategic vision of fostering long-term growth and resilience for our investors.”
The stock split, along with an increase in the authorized number of shares of the Company's common stock from 600 million shares to 15 billion shares, was approved by the Company's board of directors and by the Company's majority shareholder.
About Metavesco
Metavesco is a diversified holding company focused on acquiring and managing assets across multiple sectors, including consumer packaged goods and staffing services. The company is dedicated to long-term growth through strategic acquisitions and innovative market solutions.
Safe Harbor Statement
This press release contains statements that constitute forward-looking statements. These statements appear in a number of places in this press release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; and (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is included in the Company's filings on otcmarkets.com.
SOURCE Metavesco, Inc.
CONTACT:
678-341-5898
info@metavesco.com.
FAQ
When will MVCO's 100-for-1 stock split take effect?
What is the record date for MVCO's stock split?
How many shares will MVCO shareholders receive in the stock split?
How many authorized shares will MVCO have after the increase?
What is the purpose of MVCO's forward stock split?
