Root9B Holdings Inc. (RTNB)

[Slojab]

News released before close. Market liked it, I guess. From $.62 to $.83 in the last half hour.

root9B Technologies Announces Strategic Shift to Pure Cybersecurity

http://www.otcmarkets.com/stock/RTNB/news/root9B-Technologies-Announces-Strategic-Shift-to-Pure-Cybersecurity?id=138998

NEW YORK, Aug. 22, 2016 /PRNewswire/ -- The Board of root9B Technologies (OTCQB: RTNB) has approved a series of actions that will shift the organization to a "pure play" cybersecurity company and will seek shareholder approval for a reverse stock split.

Joe Grano, Chief Executive Officer of root9B Technologies, has received approval from the Board of Directors to pursue shareholder approval to commence a reverse stock split in order to uplist the company's shares.

"The status of our company's shares precludes many institutional and private equity potential investors from purchasing our shares as many of their charters restrict ownership of shares not traded on a major exchange," Mr. Grano said.

Mr. Grano further commented that the Board of Directors has agreed to a reconfiguration of the Board in order to commensurately align the Board with a transition to a pure cybersecurity company. In that regard, Eric Hipkins, Chief Executive Officer of the root9B subsidiary, has been named to the Board of the parent company. The Board also approved an evaluation for the divestiture of non-cybersecurity assets, primarily its IPSA International division, and any remaining components of its energy practice.

In conjunction with the evaluation, all the owners of the company's series C preferred stock have agreed to give up certain rights pertaining to the approval of transactions involving sale and disposition of assets, consolidation, mergers, reorganizations and nominating and control provisions.

Mr. Grano has agreed to lead the transition until his contract expires on May 14, 2017. In the interim Mr. Grano and the Board will execute a succession plan.