Sunset Island Group, Inc. (OTCQB: SIGO) is engaged as an organic medical cannabis grower and cultivator. Shares of cannabis grower are rallying 24.44%, through afternoon trading on Tuesday, August 15, 2017. Over the past month, Sunset Island Group, Inc. has seen average daily volume of 152,878 shares. However, volume of 261,690 shares or dollar volume of $293,092, has already exchanged hands on Tuesday.
Shares of Sunset Island Group, Inc. are gaining today, after the company announced it has formally executed a three-year Lock-Up Agreement, which covers 91.94% of all the company’s outstanding shares. Here is the full press release detailing of the Lock-Up Agreement:
Sunset Island Group, Inc. Press Release:
SAN CLEMENTE, Calif., Aug. 15, 2017 /PRNewswire/ — SUNSET ISLAND GROUP, INC. (OTCQB: SIGO) announced today that the company is executing a formal three year Lock-Up Agreement with respect to 91.94% of all outstanding shares.
CEO T.J. Magallanes stated, “We are in this for the long haul. As we expand our operations, we will do so with the focused mindset of capturing as much market share as possible. In order to provide one more example of how committed we are to both the business and the shareholders, Valerie and I will be locking up our combined 46M shares for the next three years.”
CFO Valerie Baugher stated, “With this step, we are reaffirming to our employees and shareholders that we believe strongly in the vision of the company. We want everyone involved in the business end of things to focus strictly on the operation and not worry about stock value, market cap or anything else unrelated to building our business and our brand. If we do so, stock value, market cap, etc. will take care of itself.”
Ms. Baugher finished up with, “As mentioned in a previous release, we will provide updates on our expansion and specific details on the monthly dividend later this month. As always, we thank you for your support.”
Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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 any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.