AV1 Group, Inc. (OTC PINK: AVOP) is pleased to announce that the Board of Directors has authorized the cancellation and return to treasury of 1,036,794,100 common shares of restricted stock in an effort to fortify investor confidence and strengthen shareholder value.
As previously announced, on April 1, 2014, Marijuana Incubator Group, Inc., a Wyoming corporation, acquired 7,859,375,858 restricted common shares of the Company and through a Plan of Merger, became a wholly-owned subsidiary of the Company. On October 28, 2014, the Company canceled 1,633,000,000 common shares and returned the stock to treasury. On February 19, 2015, the Company cancelled 5,189,581,758 common shares and returned to the stock to treasury.
“We are persuaded that in the retirement of stock, the Company is building a stronger foundation and strengthening its share valuation. Our goal continues to be the methodical development of our Company, protection of the integrity of the stock structure, and the enhancement of our shareholder value,” stated Bryen Beglinger, Chief Executive Officer of AV1 Group, Inc.
The Company recently disclosed that it had filed a Form D with the Securities and Exchange Commission for a $2 million private placement under the auspices of Rule 506(c) of Regulation D for accredited and institutional investors. The placement has been structured by offering 2million Class B Preferred Shares at the price of $1 per share. The Class B Cumulative Redeemable Preferred Shares will pay a twelve percent (12%) cumulative dividend each fiscal year, with a sinking fund set up for the first year. The Class B Preferred Shares are redeemable at 120% of the purchase price any time after two years from date of issuance. The Company pays an 8% placement commission to registered broker-dealers.
Developments will be forthcoming, The Company intends to keep shareholders fully informed as events materialize.
About AV1 Group, Inc.: AV1 Group, Inc. is a publicly traded investment and holding company established to identify, secure, and monetize emerging growth companies, technologies and ecommerce businesses positioned for exponential growth. The Company seeks to discover inspired entrepreneurs with revolutionary concepts which can make a substantial footprint in markets that the Company believes to have considerable growth potential. AV1 Group, Inc.’s comprehensive business model also includes a division which delivers internally created projects that are poised for revenue generation, and a platform enabling the Company to develop embryonic stage subsidiaries under one umbrella, bringing a spectrum of backgrounds to the table, thus providing a significant resource of experience, knowledge and expertise to every venture. AV1 Group, Inc. explores every opportunity to help each sector exceed their revenue goals while building close, active working relationships; preparing each respective division to be a robust competitor in their chosen markets. For more information visit: http://www.av1group.com/
Safe Harbor Statement: The press release may include certain statements that are not descriptions of historical facts but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
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