GRCU News,, Green Cures & Botanical Distribution Inc. Provides Corporate Update
Green Cures Announces Reduction of Authorized Shares
WINNETKA, CA / ACCESSWIRE / August 21, 2015 / Green Cures & Botanical Distribution Inc. (PINKSHEETS: GRCU) ("Green Cures"), a cannabis and industrial hemp products innovator, announced today the company has completed and filed a reduction in authorized common stock by 300,000,000 (three hundred million). In addition, the company announced that it has uploaded the second quarter financials for the period ended June 30 2015, to the OTC Markets Website.
Management of the company determined that it was in the best interest of the Corporation and its shareholders to amend and reduce the authorized common stock. Therefore, on August 20, 2015, the company filed an amendment with the state of Colorado to decrease the authorized capital stock of the Corporation from 2.5 billion shares of Common Stock to 2.2 billion shares of common stock.
Green Cures will continue to aggressively execute plans to improve balance sheets and the capital structure of the company. The goal is to bring stable growth and consistency to meet anticipated financial requirements of potential new investors, and potential joint venture partners. In doing so, Green Cures will continue taking steps to improve the share structure of the company, by eliminating certain classes of preferred stock, starting with Series G which accounts for up to 40,000,000 (forty million) shares of the company's common stock.
Romeo O. Cruz, the company's Interim CEO stated today "I am pleased to be taking these steps towards building a stable foundation for Green Cures and its shareholders." He went on to further state, "As we continue to make progress, I will update all shareholders with additional information as it becomes available."
About Green Cures & Botanical Distribution Inc.: Green Cures & Botanical Distribution Inc. is a development stage company that retails and wholesales hemp-infused nutritional, botanical, sports, and body care products. The company is currently Web-based and focuses on online retailing. Green Cures & Botanical Distribution Inc. operates a diverse portfolio of products and services within the botanical and cannabis industry, as permitted by law. From concept to production and distribution, Green Cures & Botanical Distribution Inc. is continuously creating and introducing products that promote a healthy life style.
www.gcbdinc.com
FDA Statement:
The statements contained in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.
Forward-looking statement:
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements are identified by wording such as "scheduled (future sense)", "intend(s)", "plan(s)", "expect(s)", "believe(s)" "will", "estimate(s)", "anticipate(s)", "expect(s)", "may", "would", "could" or "should" or, in each case, the negative thereof, other variations thereon, or comparable terminology that implies anticipated future deliverables. The Company disclaims any obligation or intention to update any forward-looking statement for any reason.
Contact:
info@gcbdinc.com
SOURCE: Green Cures & Botanical Distribution Inc.
WINNETKA, CA / ACCESSWIRE / August 20, 2015 / Green Cures & Botanical Distribution Inc. (PINKSHEETS: GRCU) ("Green Cures"), a cannabis and industrial hemp products innovator, announced today that Interim Chief Executive Officer, Romeo O. Cruz issued a letter to the investment community and provided a corporate update regarding the company's direction, and current operations.
"I would first like to begin by thanking all of our loyal consumers, business partners, shareholders and the investment community for their continued support, which plays a significant role in the future growth and success of our company.
"We have been aggressively working towards bringing in strategic alliances, which we believe will help our company ascend to another level. It has been my top priority to bring stable and positive growth to Green Cures, along with, our shareholders, and I believe we have made significant progress in doing just that. We are aligning ourselves with industry professionals, who bring with them years of experience in industries and areas required to strengthen our foundation, as well as the knowledge needed for consistent revenue generation. As acting CEO, we are at a very pivotal and exciting moment of this rapidly growing industry, and I look forward to a very profitable ride," stated Green Cures Interim CEO, Romeo O. Cruz.
Products labeled Green Cures:
Currently, new and improved products labeled Green Cures are being completed, and are in final labeling stages to be ready for marketing and distribution. At the present time, brand development and marketing experts are in the process of redesigning the labeling of Green Cures' products. Management of the company believes that the new design and labeling of Green Cures Hemp Extract will facilitate the marketability, product placement, and distribution of its hemp-derived products labeled Green Cures. The company anticipates that the consumers will have the option to purchase Green Cures Hemp Extract in different flavors and potency levels such as, 100 mg, 200 mg, 500 mg, and 1500 mg of hemp extract CBD.
Marketing & Distribution Program:
Green Cures & Botanical Distribution Inc., is pleased to announce that it has teamed up with Monster Marketing Group Inc., a subsidiary of New Generation Consumer Group Inc., another publicly trading company, under symbol NGCG. Green Cures and Monster Marketing Group are gearing up to launch numerous aggressive marketing and promotional campaigns, and programs for selected company products. Monster Marketing is a company dedicated to providing marketing services to companies as well as product concept development, and brand management. With the assistance of Monster Marketing Group, Green Cures plans to expand brand recognition of their unique products nationally, and in numerous consumer markets.
Executive Team:
Management of the company is in the process of appointing additional officers to its executive team and Board of Directors. Upon the finalization of the new Board of Directors and complete list of Officers, the company plans to announce publicly all names of the management team. Green Cures plans to appoint industry professionals to their executive team, who are seasoned in managing marketing firms, experienced with publicly trading companies, financing, as well as product development and implementation.
Quarterly Financial Report for the Period Ending June 30, 2015:
The Quarterly Financial Report and Disclosure for the period ending June 30, 2015 is in the process of being completed; the company anticipates that this report will be uploaded to the OTC website on or before August 21, 2015.
Share Structure Information:
The company would like to inform to the public and the investment community that there are no plans to increase the number of authorized shares of the common stock of the company. Additionally, the company does not plan to conduct any reverse stock split, for the remaining of the year 2015. As of the date of this announcement, the total number of authorized shares by the company is 2.5 billion, while the current issued and outstanding share count is an approximate of 1.91 billion. On July 1, 2015, Green Cures & Botanical Distribution issued 100,000,000 shares of the Company's restricted common stock to the controlling entity of the Company, Green Cures Inc. These shares are being held by the controlling entity, to provide Green Cures & Botanical Distribution Inc., flexibility for future potential capital raising transactions that may be needed for the Company's upcoming projects or acquisition, when applicable.
Outstanding Debt:
On August 10, 2015, the company made one partial payment, to a corresponding Government agency, for an outstanding tax liability, which was previously announced on May 19, 2015. Effective July 28 2015, one hundred and fifteen thousand, two hundred and seventy four dollars ($115,274) were removed from the company's liabilities. The Company, at the request of the long term investor, agreed to amend any unconverted note that was due and outstanding. The number of Payment Shares issued to the long term investor upon conversion of the outstanding notes was determined by dividing the principal amount of the Notes, together with all accrued and unpaid interest, by the closing bid price of the Borrower's common stock on the business day immediately prior to the date of the conversion.
In closing, the company will provide additional updates as they become available.
About Green Cures & Botanical Distribution Inc.: Green Cures & Botanical Distribution Inc. is a development stage company that retails and wholesales hemp-infused nutritional, botanical, sports, and body care products. The company is currently Web-based and focuses on online retailing. Green Cures & Botanical Distribution Inc. operates a diverse portfolio of products and services within the botanical and cannabis industry, as permitted by law. From concept to production and distribution, Green Cures & Botanical Distribution Inc. is continuously creating and introducing products that promote a healthy life style.
www.gcbdinc.com
FDA Statement:
The statements contained in this document have not been evaluated or approved by the FDA. The products and statements referenced in this document are not intended to diagnose, treat, cure, or prevent any disease.
Forward-looking statement:
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Forward-looking statements are identified by wording such as "scheduled (future sense)", "intend(s)", "plan(s)", "expect(s)", "believe(s)" "will", "estimate(s)", "anticipate(s)", "expect(s)", "may", "would", "could" or "should" or, in each case, the negative thereof, other variations thereon, or comparable terminology that implies anticipated future deliverables. The Company disclaims any obligation or intention to update any forward-looking statement for any reason.
Contact: info@gcbdinc.com
SOURCE: Green Cures & Botanical Distribution Inc.
