NEW YORK, NY, March 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Safer Shot, Inc. (OTC: SAFS), a developer of proprietary security and protection technology targeting the personal security market, today provides an update on its corporate restructuring initiative.
In the first in a series of corporate structural changes, the board of directors has approved an amendment to the articles of incorporation whereby a new class of preferred stock is now authorized. The creation and addition of preferred stock to the Company’s share structure is necessary in that it is the first step toward reducing the issued and outstanding shares of the Company.
In that regard, the Company plans to retire 1.1 trillion shares of the issued and outstanding common stock during 2019 and subsequently reduce its authorized common stock.
The structural changes to the articles of incorporation and retiring of the shares are necessary in order to ward off the potential need of a reverse stock split during 2019.
Further information on the Company’s corporate structure, capitalization, product engineering and OTC Markets listing will continue to be updated as it becomes available.
This press release contains statements that are forward-looking, and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Safer Shot, Inc’s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Safer Shot, Inc.’s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Safer Shot, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Safer Shot, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
CONTACT: Safer Shot, Inc. info@safershot.com www.safershot.com www.instagram.com/safershot/