- Significant reduction of 88.9 million outstanding shares by Software Effective Solutions Corp. (SFWJ, Financial), operating as MedCana.
- 16.2 million shares canceled and 72.7 million shares swapped for preferred shares with a 12-month lock-up period.
- Strategic move aimed at enhancing shareholder value amidst operations in Colombia.
Software Effective Solutions Corp. (OTC PINK: SFWJ), doing business as MedCana, has announced a substantial restructuring of its share structure aimed at bolstering shareholder value. The company is effectively reducing its outstanding shares by 88,943,841. This reduction comes as a result of canceling 16,193,760 shares and converting 72,750,081 shares of common stock into preferred shares.
The preferred shares, introduced as part of this strategic initiative, carry a 12-month restriction on conversion back to common stock, working as a temporary safeguard against potential future dilution. This move is expected to optimize the share structure, potentially increasing the value of remaining shares for existing shareholders.
CEO José Gabriel DÃaz commented on the restructuring, stating that these changes, along with MedCana's active business operations in Colombia, are anticipated to have a positive effect on shareholder value. The focus remains on the production, research, and global distribution of high-quality pharmaceutical-grade cannabis products.
For further details, investors and interested parties can visit MedCana's official website or connect via email or social platforms.
