CARSON CITY, NV — (Marketwired) — 10/22/13 — Pan Global, Corp. (OTCQB: PGLO) (“the Company”), today discusses its recent reduction of its issued and outstanding common shares from 455,155,000 to 155,155,000.
Recently the Company completed a common stock for preferred stock exchange agreement (“Exchange Agreement”) with the Company–s majority shareholder to exchange 300,000,000 common shares for 3,000,000 Shares of Series C Convertible Preferred Shares.
The Company believes this agreement has tremendous benefit for the Company and its shareholders. This reduction of outstanding common shares strengthens the Company–s cap structure which the Company feels will aid its efforts to, amongst other things, make acquisitions and attract investment.
Furthermore, the Company feels that because The Series C Convertible Preferred Shares are only convertible on a one for one basis the fully diluted impact on current shareholders is not significant.
The Company thanks its majority shareholder for entering into this transaction and will continue to seek ways to add shareholder value.
Further details of the Exchange Agreement are available in the Company–s Form 8-K filed with the SEC on October 18, 2013 ().
Pan Global, Corp., through its wholly owned subsidiary, Pan Asia Infratech, Corp., is focused on environmentally sustainable energy, infrastructure and technologies. Our aim is to invest in green energy technology and infrastructure to build an inclusive green economy around the world.
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The foregoing contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. We intend for these forward-looking statements to be covered by the safe harbor provisions of the federal securities laws relating to forward-looking statements. These forward-looking statements include statements relating to, or representing management–s beliefs about, our future transactions, strategies, operations, events and financial results. Such forward-looking statements often contain words such as “will,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” “is targeting,” “may,” “should” and other similar words or expressions. Forward-looking statements are made based upon management–s current expectations and beliefs and are not guarantees of future performance. Our actual business, financial condition or results of operations may differ materially from those suggested by forward-looking statements as a result of risks and uncertainties which include, among others, those risks and uncertainties described in any of our other filings with the SEC. Certain other factors which may impact our business, financial condition or results of operations or which may cause actual results to differ from such forward-looking statements are discussed or included in our periodic reports filed with the SEC and are available on our website at under “Investor Info.” You are urged to carefully consider all such factors. We do not undertake or plan to update or revise forward-looking statements to reflect actual results, changes in plans, assumptions, estimates or projections, or other circumstances occurring after the date of this news release, even if such results, changes or circumstances make it clear that any forward-looking information will not be realized. If we make any future public statements or disclosures which modify or impact any of the forward-looking statements contained in or accompanying this news release, such statements or disclosures will be deemed to modify or supersede such statements in this news release.
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Pan Global, Corp.
Investor Relations
Phone: 877-999-7978
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