Cannagistics Inc (CNGT)

[Slojab]

Another one.

On September 12, 2016, pursuant to Article III of our Articles of Incorporation, our Board of Directors voted to designate a class of preferred stock entitled Series B Preferred Stock, consisting of up to nine million seven hundred and fifty thousand (9,750,000) shares, par value $0.001. Under the Certificate of Designation, holders of Series B Preferred Stock will shall be entitled to distributions made on a liquidation of the company on a pari passu basis with the holders our common stock and Series A Preferred Stock at a stated value of $1.00 per share. The holders are also entitled to vote together with the holders of our common stock and Series A Preferred Stock on all matters submitted to shareholders at a rate of one (1) vote for each share held. The holders are further entitled to convert each share of their Series B Preferred Stock into shares of common stock at a conversion rate of the closing price of our common stock one day following the demand for conversion, provided that there shall be a floor price of $1.00 per share and a ceiling price of $2.00 per share.

Market Value1 $13,174,211 a/o Sep 16, 2016
Authorized Shares 250,000,000 a/o Aug 10, 2015
Outstanding Shares 5,803,617 a/o Apr 20, 2016