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Tuesday, October 25, 2016 11:51:43 AM
On October 18, 2016 Baron Capital filed an Amendment with the State of Florida to change the name of Trans Global Group Inc. to Cannabis Consortium, Inc., along with a change to TGGI's share structure.
The State of Florida Amendment reduces TGGI's Authorized Common shares from 10.6 billion to 250 million shares. TGGI's Preferred shares will change from 1.5 million to 1 million. A 10,000 to 1 reverse split for TGGI has also been filed in the Amendment. All changes are scheduled to go effective on, or about, November 7, 2016.
BCAP is making an application to FINRA to change TGGI's name and ticker symbol. After the new name and ticker symbol with FINRA become effective Baron Capital will announce a record date and pay date for the Cannabis Consortium, Inc. distribution.
Baron shareholders shall receive one (1) share in Cannabis Consortium, Inc. for every 200 shares of BCAP held on the record date. As an example if you own 1 million shares of Baron on the record date you will receive 5,000 shares of Cannabis Consortium, Inc. A press release will be issued on a national wire service with this information.
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