Saint Petersburg, FL, June 11, 2015 (GLOBE NEWSWIRE) -- FutureWorld Corp. (OTC: FWDG), a cannabis technology accelerator and a leading provider of advanced technologies and solutions to the global cannabis industry, announced today that it has completed its process with FINRA on the dividend of FutureLand Corp (FUTL). The process allowed us a new "record date" which would be close enough to the "distribution date" to quell any confusion on the part of the investors. Furthermore, FutureWorld will increase the FutureLand dividend rate from 300 shares of FWDG for 1 share of FutureLand to 250 shares of FutureWorld for 1 share of FutureLand. The increase in the dividend rate will more than compensate for the loss of Infrax dividend.
Following is the new information on the dividend;
Dividend Rate - 250 shares of FutureWorld (FWDG) for 1 share of FutureLand (FUTL)
Record Date - June 12, 2015
Distribution Date - June 15, 2015
Based on the FutureLand's (FUTL) current closing price of $20 per share, for every share of FWDG, you will receive $0.08 non-cash dividend in FutureLand stock ($20 stock price is not a fix number and it may change before or after the distribution of the dividend. FWDG will not guarantee share price of FUTL at any point in time).
Dividend shares are restricted. Shares will be deposited into the shareholders account until such time the Company gets clearance from SEC. When cleared, the (restricted) shares in the shareholders account will become free trading hence tradable. Company is in the later stages of the preparation of the S1 to be filed with SEC.
The announced dividend is an initial tranche. We may issue another dividend in the near future on FutureLand Corp.
Although we use the "record date" to determine the shareholder's rights for dividend, if shareholders sell their shares prior to the actual "distribution date", they will not be eligible for the dividend. Shareholders must hold their FutureWorld shares till the "distribution date" or June 15 to qualify for the dividend of FutureLand Corp.
Please find below the associated terms in relations to the Spinoff;
-Record Date - The date established by an issuer of a security for the purpose of determining the holders who are entitled to receive a dividend or distribution (if you sell your shares after the Record Date and before the distribution Date, you will lose your eligibility to receive your dividend)
-Dividend Rate - The total expected dividend payments from an investment (Spinoff)
-Distribution Date - The date the dividend is paid out (after the completion of the Spinoff)
FutureLand Corp. is one of many of FutureWorld subsidiaries planned spinoffs. FutureWorld has hastened its execution of its business plan to incubate and fund five (5) subsidiaries so far with award winning products. We plan on executing our business model in the next few weeks and months by our planned exit strategies (sale) for our subsidiaries, including URVape and CB Scientific.
About FutureLand Corp.
FutureLand (OTC:FUTL), a Colorado company, is a cannabis and hemp land leasing company formed to capitalize upon the emerging global cannabis market. FutureLand, focuses on target acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States. We give growers the opportunity to grow. We monetize through leasing the land, leasing the structures on the land, financing interest revenue and management fees associated with cultivation centers. FutureLand retains ownership of all the land and the structures we build on the land. FutureLand leases to both medical marijuana, retail marijuana as well as industrial hemp growers. FutureLand does not grow, distribute or sell marijuana.
To request further information about FutureLand, please email us at info@futurelandcorp.com, log onto our website at http://www.futureworldcorp.com or visit us at our Facebook page facebook.com/pages/FutureLand-Corporation/848802538518505 or on Twitter @futurelandcorp
About FutureWorld Corp.
FutureWorld (OTC: FWDG), a Delaware corporation, is a leading provider of advanced technologies and solutions to the global cannabis industry. FutureWorld, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of cannabis related products and services, such as industrial Hemp. FutureWorld, through its subsidiaries, provides personal and professional THC and CBD test kits, pharmaceutical grade CBD oil solutions, SafeVape vaporizers, smart sensor technology, communication network, surveillance security, data analysis for smart cultivation and consultation for the industrial hemp and legal medicinal cannabis. Our wireless agricultural smart sensor networks offer precision to the agriculture, irrigation systems, and greenhouses for the global cannabis and hemp industry. FutureWorld and its subsidiaries do not grow, distribute or sell marijuana.
As the only Cannabis Technology Accelerator, FutureWorld will incubate and fund leading technologies, products, and services for Cannabis industry (Industrial Hemp) for foreseeable future; bringing value to its core and its shareholders.
To request further information about FutureWorld, please email us at info@futureworldcorp.com, log onto our website at http://www.futureworldcorp.com or visit us at our Facebook page facebook.com/futureworldenergy or on Twitter @futureworldinc.
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.