nice share reduction news out Sirrus Corp. Announces Common Share Reduction Plan GlobeNewswire "Press Releases"
JOHNS CREEK, GA , Dec. 05, 2017 (GLOBE NEWSWIRE) -- Sirrus Corp. (Sirrus or the Company) (OTC PINK: SRUPD), an emerging cyber security solutions provider, today announced thatit plans to complete a share reduction ofits issued and outstandingcommon stock.This plan is a follow up to the Companys recent 40-for-1 forward stock split/dividend and ispart twoof a long termComprehensive Capital Structure Plantoimproveits capital structure and providevaluefor itsshareholders.The split was effective for trading purposes at the market opening on November 28, 2017 .
The Company believes a reduction of its issued and outstanding common stockwill bepositive for the Companys capital structure and itslong-termplans. The share reduction will be executed by the majority shareholder of the Company and is expected to be finalized shortly.
In the future,theComprehensiveCapital Structure Planmay include,butnotlimited to,further common stock reductions and other stock based dividends.
Theobjective inchoosingto completetheforward stock splitwas aimed atreaching financing objectivesand increasing acquisition resources.Specifically, thecorrespondingincrease inthe Companys authorized common stockallows for increased availability in shares that could be used infutureacquisition transactions.
Ms.Sparrow Marcioni,the CompanysCEO,stated,It requiredseveral weeks of planning to determine the correct formulafor our capital structure plans. When consideringacquisition resources and financing and the costs associated with these types of transactions, we opted to address our anticipated need in aforward splitand increase in authorized common stock.TheCompany is now focused oncontinued execution of its business planand generating sales in all security sectors of their business model.
The trading symbol for theCompanysCommon Stock will remain SRUP, although the letter Dwastemporarily appended to the ticker symbol for twenty trading days following the Forward Split.
About Sirrus Corp.
Sirrus Corp. (OTC PINK: SRUP), throughitswholly-owned subsidiary,Sirrus Security, Inc.,provides security technology products and services to assist companies with protecting their assets and information. The Company is primarily focused on providing cybersecurity services to healthcare companies in the United States , which are required to be in compliance with government regulations such as the Health Insurance Portability and Accountability Act (HIPAA).
Additional informationregarding Sirrus Corp. and Sirrus Security can be found atwww.sirruscorp.com.The contents of the Companys website are not incorporated into this Press Release.
Cautionary Note Regarding Forward-Looking Statements
This press release by Sirrus Corp. (Sirrus) may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as expects, plan, believes, will, achieve, anticipate, would, should, subject to, or words of similar meaning, and by the fact that they do not relate strictly to historical or current facts. Although Sirrus management believesthat such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Known risks and uncertainties include those identified from time to time in the reports filed by Sirrus Corp. with the SEC. Sirrus assumes no obligation to update publicly any forward-looking statements contained in this press release.
Sirrus Corp. - Investor Relations: Toll-Free:(888) 263-7622 E-mail: investors@sirruscorp.com Website:www.sirruscorp.com
Source: Sirrus Corp
