Las Vegas, NV, July 25, 2018 (GLOBE NEWSWIRE) -- South American Gold Corp. which is in the process of changing its name to Sativa Growth International (OTC PINK: SAGD) (“Sativa Growth” or “Company”), an emerging cannabis supply company, would like to issue an overview concerning our recent progression to provide clarity for our valued shareholders.
Sativa Growth is fully committed to transparency and providing shareholders with prompt updates regarding our latest developments. The Company is pleased to announce its recent reinstatement with the Nevada Secretary of State, a necessary first step in rebuilding and restructuring to compete within the cannabis space. Reinstatement of our license has substantially delayed the progress of our subsequent upcoming initiatives. Now that we have re-established an active status, we are filing an addendum with the state of Nevada to officially change the name of South American Gold Corp to Sativa Growth International.
The share structure has finally been updated by OTC Markets to reflect our previously announced reduction of 200 million outstanding shares, decreasing the outstanding share count to 565,350,021.
Sativa Growth looks forward to expediting further announcements, including upcoming acquisitions, partnerships, and expanding distribution channels of various cannabis-related products, both domestically and internationally. Additionally, the Company is penetrating into the medical cannabis market by assuming a key role in the highly anticipated “Utah Cann”. This will be an unprecedented event, and the first ever cannabis conference to take place in the state of Utah.
Gary Austin, Director of Sativa Growth, stated, “We are very excited to establish a strong foundation on which to build a solid and profitable company. We have been working diligently over the last several weeks to rectify any prior hindrances in order to seamlessly embark upon our next steps, and we intend to immediately begin executing our strategy. We continue to remain highly optimistic about our bright future in this new sector, and intend to keep our shareholders fully apprised of updates as we move forward together.”
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.