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[Papa Bear]

American Diversified Holdings Corporation Announces Results of Special Meeting of Shareholders

www.otcmarkets.com/stock/ADHC/news


DEL MAR, CA / ACCESSWIRE / June 3, 2015 / American Diversified Holdings Corporation (PINKSHEETS: ADHC) has today announced that it held a Special Meeting of the Shareholders in New York City on June 2, 2015. The shareholders present at the meeting represented a majority of the issued and outstanding shares of the Company, and two key resolutions were passed by the Shareholders.

The first resolution calls for the retirement of approximately $200,000 in debt of the Company. This debt will be exchanged for preferred stock of the Company. The preferred stock has restrictive covenants that will not allow for an immediate exchange of the preferred shares for common shares. This will prevent a dilutive event for all shareholders. The Board of Directors will meet in the coming weeks to ratify this transaction.


The second resolution calls for the Company to focus all acquisition efforts on one particular company. The Company had been considering three separate acquisitions, and the time and consideration given to these potential acquisitions was too burdensome to management. The Company will focus its efforts solely on one company, and hopes to enter into a Letter of Intent or Memorandum of Understanding within a short time frame.

The Company will provide more information on its potential acquisition once it enters into a Letter of Intent.


Debt reduction and acquisition news forthcoming .... 680M OS! .... 220M FLOAT! ..... TRADING AT .0008!