Green Cures & Botanical Distribution, Inc. (OTC Pink: GRCU) is engaged in the production, distribution, marketing, and management of cannabis-based products. Shares of the cannabis company are rallying 11.50% during early trading on Wednesday, November 9, 2016. Over the past three months, Green Cures & Botanical Distribution, Inc. has seen average daily volume of nearly 3.06 million shares. However, nearly 9.4 million shares or dollar volume of $282,000, has already exchanged hands through early trading on Wednesday.
Shares of Green Cures & Botanical Distribution, Inc. are rallying Wednesday, after the company announced it has returned 300 million shares to treasury. The move comes as InStep Holdings, LLC, the controlling entity, determined “it was in the best interest of the shareholders as well as the company to return the majority of their common holding” (Yahoo Finance). The 300 million shares returned equate to nearly 50% of Green Cures & Botanical Distribution, Inc.’s previous outstanding share count. Here is the full press release detailing of the share transfer:
Green Cures & Botanical Distribution, Inc. Press Release:
INGLEWOOD, CA–(Marketwired – Nov 8, 2016) – Green Cures & Botanical Distribution, Inc. ( OTC PINK : GRCU ) is pleased to announce today the return of 300,000,000 (Three-Hundred Million) shares back to treasury. This decision was an easy one to make as InStep Holdings LLC, who is the controlling entity, felt it was in the best interest of the shareholders as well as the company to return the majority of their common holding. The goal is to keep a low and respectable share structure, and the best way of doing that is to maintain a low Issued & Outstanding, which GRCU has achieved today. 300,000,000 shares represented nearly 50% of the shares previously outstanding. By returning the shares to treasury, it creates only positive effects on the current shareholders and the stability of the company.
Currently, the share structure is 800,000,000 (Eight-Hundred Million) Authorized and 338,716,015 (Three Hundred Thirty-Eight Million Seven Hundred Sixteen Thousand Fifteen) Issued & Outstanding. Plans to make adjustments to the Preferred stock will also be adjusted. The shares have already been re-designated. These decisions are about returning the unnecessary and excessive. GRCU Management will make the announcements on the Preferred Stock once those items have been completed with the information.
Joe Tragesser, Green Cures & Botanical Distribution’s CEO stated, “I’m pleased to announce the Board’s decision today to increase our Shareholder value. We have reduced our outstanding almost in half. Our strong performance, continuous product development, and our dedication to positive revenue growth, enabled the Board’s decision. This decision reinforces our ongoing commitment to return value to our Shareholders.” Tragesser added, “We believe we are well-positioned to continue this momentum of improving operating costs and productivity. We have aligned ourselves with some really amazing people through our joint ventures and they are with us for the long-haul. We have already taken significant steps to improve our overall performance, and creating additional shareholder value only aids in proving our intent.”
Currently our products are being developed with Purple Haze Properties and we are full speed ahead. Our beverage products as well as our edibles are headed to manufacture within the coming days. The company believes these products will lead to a very successful and profitable bottom line due to how lucrative this category is. GRCU will provide constant updates to both the public and shareholders as to the details of this historic beverage release as it continues to progress.
About Green Cures & Botanical Distribution, Inc.
Green Cures & Botanical Distribution, Inc. is a revenue-generating company that wholesales and retails hemp-infused nutritional, botanical, sports, and body care products. The company is currently Web-based and focuses on online retailing. Green Cures & Botanical Distribution, Inc. operates a diverse portfolio of products and services within the botanical and cannabis industry, as permitted by law. From concept to production and distribution, Green Cures & Botanical Distribution, Inc. is continuously creating and introducing products that promote a healthy life style. For more information visit: http://www.originalhollywoodhemp.com/.