SUTI .0005 News
SutimCo Inc.'s Share Buy Back and Shareholders Updates
CHEYENNE, WY / ACCESSWIRE / August 3, 2015 / SutimCo Inc. (PINKSHEETS: SUTI) ("The Company") Today, the CEO and management of the company make the following updates to shareholders:
On Friday July 31, 2015, the company issued a press release with respect to a company buyback of shares. In addition, today the company has reached a final agreement with one of its noteholders who exists from prior obligations. This note becomes due within the next 60 calendar days. The company reached agreement with this particular noteholder to retire a share block that exceeds 125 million stock shares. When these shares become available for conversion, they will reflect as an additional amount in our company's outstanding share count. The shares will then be retired immediately thereafter. I am pleased with this outcome as it eliminates a future liability.
With regards to the company buyback referenced in our Friday press release, the company has finalized agreement for this action which will take effect starting this week. The buyback will be allotted for up to 150 million shares to be purchased on the open market. The company has access to a funding group consisting of private investors. The structure of this buyback was detailed in our July 31, 2015 press release.
It is with great pleasure to announce that the new company website (MJVC) is in its final stages of completion. We anticipate its launch before the end of this coming week.
Kindest Regards,
Jorge Saenz, SutimCo CEO
About Canna and the City:
Canna and the City is a medical marijuana dispensary that is dedicated to providing their patients with the highest quality medicine with the most enjoyable experience. They provide flower, pre rolls, edibles and concentrates.
Some of the best recent Quotes:
"In strict medical terms marijuana is far safer than many foods we commonly consume. For example, eating 10 raw potatoes can result in a toxic response. By comparison, it is physically impossible to eat enough marijuana to induce death. Marijuana in its natural form is one of the safest therapeutically active substances known to man. By any measure of rational analysis marijuana can be safely used within the supervis ed routine of medical care." - [DEA Administrative Law Judge - 1988] Francis Young
"When I was a kid I inhaled frequently. That was the point." - Barack Obama, U.S. President quote on Marijuana
"I enjoy smoking cannabis and see no harm in it." - Jennifer Aniston quote on Marijuana
"At the end of 2014, 15,992 people were licensed to work in the marijuana industry in Colorado alone, an increase of 143% over the previous year."
"A recent report from The ArcView Group, a cannabis research and investment firm, dubbed legal marijuana the fastest-growing industry in the U.S. and valued it at $2.4 billion in 2014 - the year legal, recreational marijuana sales first started in Colorado. ArcView is expecting the industry to grow by another 32% this year."
"I think people need to be educated to the fact that marijuana is not a drug. Marijuana is a flower. God put it here." - Willie Nelson
"'2014 was the year where the cannabis industry went from being an interesting casual conversation to something any serious business person has given a fleeting thought," said Troy Dayton, co-founder of The ArcView Group. "Unlike other new industries, the demand for cannabis and related products already exists, driving the sector's rapid growth. The industry grew from $1.5 billion in 2013 to $2.7 billion in 2014 - a 74% increase in one year, according to The ArcView Group's latest market analysis report."
"Federal and state laws (should) be changed to no longer make it a crime to possess marijuana for private use." - Richard M. Nixon
About Sutimco Inc.
Sutimco Inc., is a development corporation with a focus and design to enter a new and emerging Medicinal and Recreational use Marijuana and Cannabis market sectors. The company is developing relationships and contracts with product and service providers that cover all aspects of this new and emerging market sector.
Forward-Looking Statements: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Re form Act of 1995. You can identify these statements by use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements set forth in this press release constitute "forward-looking statements." Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan ", "planning", "expect," "believe," "will likely," "should," "could," "would," "may" or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertain ties, including those relating to the Company's ability to grow its business. Actual result s may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company's limited operating history, the limited financial resources, and domestic or global economic conditions -- activities of competitors and the presence of new or additional competition and conditions of equity markets.
Contact:
stassan@sutimcointernational.com
SOURCE: SutimCo Inc.
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