Green Cures & Botanical Distribution (OTCMKTS:GRCU) Stock On Radar After Name Change and Share Reductions
Yesterday, Green Cures & Botanical Distribution Inc (OTCMKTS:GRCU) was in the news cycle after it announced that its management had decided to adopt a new name for the company. The new name would be Global Roundtable Corporation.
On Thursday, GRCU stock ended flat at $0.0007 with more than 129.44 million shares, compared to its average volume of 5.11 million shares. The stock moved within a range of $0.0007 – 0.0011 after opening trade at $0.0008.
Green Cures & Botanical Distribution, Inc. Announces Name Change and Share Reductions
Additionally, it was further announced that the management had also successfully negotiated with its shareholders to retire certain number of outstanding shares. The Chief Executive Officer of the company Robert Tanko spoke about the development as well. He noted that the management was happy to do away with the previous name. He went on to add that the management was now ready to unlock value for its shareholders with a new image that is going to signal honour, loyalty and truth to the customers, wider community and also the shareholders.
He went on to add that as a good faith gesture, many of the company’s shareholders had agreed to retire some of the outstanding shares to the treasury. In exchange, the company had decided to issue preferred shares to the same shareholders. He went on to add that in the future the company would be making use of preferred shares for the purpose of making acquisitions. He added that there were no plans for a reverse split.