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SAN DIEGO, April 27, 2018 -- CUBA Beverage Company (OTC:CUBV) announced today that the Company has sent the paperwork to the state of California for filing the official reduction of its Authorized Shares from 3 Billion Common Shares to 1 Billion Common Shares. The authorized share count represents the number of common shares available for issuance. The reduction has taken effect upon the Company’s Resolution and should be posted with the state of California within ten business days. The Company’s Transfer Agent will reflect the reduction on its books.
The company has also completed a transaction where 2 Billion Restricted Common Shares have been returned to the company for cancellation. The net result of the reduction of the Company’s Authorized and the return of the 2 Billion Restricted Common Shares is that the company now has 1 Billion Common Shares Authorized for issuance, the new shares outstanding will be 500 Million This number is subject to the company’s Transfer Agent accounting which should occur within the next few days.
These moves are representative of the Company’s commitment to enhancing shareholder value as a part of its goal of attracting subsidiaries that bring increased revenue and positive potential to the Company.
FORWARD-LOOKING INFORMATION
Safe Harbor Statement:
This release may include "forward looking statements" within the meaning of Section 27 A of the Securities Act 1933 as amended, and Section 21 E and/or 27 E of the Securities Exchange Act of 1934, that are based on assumptions that in the future are inherently uncertain, may prove not to be accurate, and are subject to significant risks and uncertainties. These include but are not limited to statements as to the future performance of the company, its ability to raise necessary financing, and other general economic risks and uncertainties.
CONTACT: Investor Relations, 619-514-8178
