Buyer Group International Inc. (OTC:BYRG) Stock on Watchlist After a Key Update

In light of the developments from Monday, a number of companies could come into focus among investors today, and one of those could be Buyer Group International Inc. (OTC:BYRG). The junior mining company, focused on its Shambhala Project, was in focus on June 17 after it announced that it had been successful in the cancellation of 1,050,000,000 shares of its common stock. Buyer Group International also announced that the shares had been retired to the Treasury.

It was a significant new development for the company since it led to a reduction of the overall outstanding share structure by as much as 12%. It was also revealed that as many as 100 million of the retired shares were free-trading ones, and the action reduced the float by more than 542 million shares since 2023. In the news release, Buyer Group International also announced that the latest move was part of the larger strategy from the company to reduce shares with the aim of boosting the value for its shareholders.

The company also listed the five share reduction exercises that it had completed successfully over the past 12 months. The Chief Executive Officer of the company, Dave Bryant, spoke about the development as well. He noted that the move was a demonstration of the company’s commitment to boosting value for shareholders.

Bryant went on to state that the company had deployed the legal process so as to successfully cut down the number of outstanding shares as well as the share float at the same time. He called the move not only a huge win for the management team at Buyer Group International but also for the company’s investors. The CEO also noted that the move was an indication of the management’s confidence in the future of the business as a whole.