New York, NY, Oct. 16, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Global Arena Holding, Inc. (the “Company”) (OTC PINK: GAHC), announced today, that on Monday, October 15, 2018, the Company filed a 14A for the Annual Meeting of Stockholders (“Annual Shareholders Meeting”), with anticipation of GAHC being well positioned to increase shareholder confidence and achieve management’s goal of delivering quantifiable value to its market.
“We will soon hold the most exciting, important and highly anticipated Annual Shareholder Meeting in quite some time,” stated John Matthews, CEO of Global Arena Holding, Inc. “The outcome of this particular meeting could potentially steer the Company in a direction of growth that is incredibly strong, consistent and efficiently scalable.”
“This is why we listened closely to our shareholders and worked diligently over the past two years to increase the intrinsic value of our marketplace. We did our best to reduce toxic dilution, position the company to secure multi-million-dollar opportunities and most important, adjust the originally proposed 1 for 7.5 reverse split, down to a reasonable and responsible, 1 for 4 reverse split.”
“We have deals in place to complete: the full acquisition of our primary revenue source; an international partnership with prominent Swedish blockchain software development company; hiring of an Information Security vet of 25 years as GAHC’s Chief Information Officer; and, our subsidiary’s joint venture to institute online e-voting software and web portal solutions for our clients. Should we receive the full support of our shareholders, we will be able to solidify each of these opportunities – putting Global Arena Holding in a really good position.”
The Company has invited shareholders to attend the 2018 Annual Shareholder’s Meeting on November 16th, 2018 at 9:00 a.m. (est). The Annual Shareholder’s Meeting will be held at the Hilton Garden Inn/Manhattan East, located at 206 East 52nd Street, New York, New York 10022.
Shareholders will be asked to consider and vote upon: (1) elect three (3) directors to serve for the ensuing year as members of the Board of Directors of the Company; (2) authorize the Company to effectuate a 1 for 4 reverse split of all outstanding common shares; and, (3) transact such other business as may properly come before the Annual Meeting or at any continuation, postponement or adjournment thereof. Shareholders will be mailed a Notice of Annual Meeting of Stockholders and a Proxy Statement describing these matters in more detail.
Management would like for shareholders to lend their consideration and view the adjustment to the reverse split, down from 1 for 7.5, to a reasonable and still effective, 1 for 4 reverse split, as a responsible compromise for a necessary action. The Board of Directors carefully reviewed all options available regarding the capital structure, including increasing the authorized shares. However, to complete transactions and hire certain highly coveted executive talent, both vital to the ultimate value of the Company, it was determined that with certain renegotiations, a 1 for 4 reverse split, would be deemed an appropriate action meant to close pending deals and shore up shareholder confidence. Further, some of the pending agreements will require the issuance of additional shares. This requirement cannot be met without a fair and reasonable 1 for 4 reverse split.
Mr. Matthews concluded, “We are looking forward to meeting with shareholders on November 16th and anticipate having their full support in continuing to grow the Company. I encourage everyone to please continue contacting us with any questions, concerns or thoughts you may have about the upcoming 2018 Annual Shareholder Meeting. It is a pleasure to know, that with your support, we will be able to close those deals that will ensure continued revenue, growth and opportunity for us all.”
Management will provide further insight on various aspects of the 14A as the day of the Annual Shareholder Meeting nears closer.
About Global Arena Holding
Global Arena Holding, Inc. trades on the OTC Pink Sheets under the ticker symbol GAHC. The Company has been publicly traded since 2011 and holds a number of interests, including Global Elections Services, Inc. and GAHI Acquisition Corp. The Company focuses on acquiring technologies, patents and companies having the ability to leverage the blockchain crypto technology.
For more information visit: http://globalarenaholding.com
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release contains statements that are forward-looking, such as statements related to the future anticipated direction of the industry, plans for future expansion, various business development activities, planned or required capital expenditures, future funding sources, anticipated sales growth, and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by, or on behalf of, the company. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
CONTACT: Global Arena Holding, Inc.
208 East 51st Street
Suite 112
New York, NY 10022
kathryn@globalarenaholding.com
Tel: 646-801-5524