HUNTINGTON BEACH, Calif., Aug. 07, 2023 (GLOBE NEWSWIRE) -- via IBN -- Nate's Food Co (OTC: NHMD) is pleased to announce that the company's officers and directors have unanimously agreed to cancel 1 billion common shares, representing 27% reduction in issued and outstanding shares.
Of the total 1 billion shares approved for cancellation, 500 million common shares have already been successfully cancelled, and the process is currently underway to cancel the remaining 500 million shares through the company's transfer agent.
The cancellation of common shares is part of Nate's Food Co's strategic plan to optimize its capitalization, streamline operations, and position the company for possible joint ventures or acquisitions.
About Nate's Food Co.
The Company operates two divisions: (1) Food development and distribution and (2) bitcoin mining. The Company's focus is the development of food products for distribution in wholesale membership stores and into retail grocery stores. The Company also operates a bitcoin mining division as a hedge against inflation.
Additional information is available by visiting the Company's website at www.natesfoodco.com or on twitter at https://twitter.com/natesfoodco.
Revenue related calculations. Please note that the Company believes that any revenue related calculations are accurate and based on factual information, there can be no assurance that the Company will be able to achieve all projections due to number of business-related factors, such as power pricing, mining equipment availability, bitcoin mining difficulty, bitcoin market pricing and other unforeseen issues in deploying its mining rigs. You can view update information on Bitcoin Mining by visiting https://alloscomp.com/bitcoin/calculator.
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating) to change or differ from future results, performance (financing and operating) or achievements, including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.
For more information:
Nate's Food Co.
Email: nate@nateshomemade.com
Phone: (949) 341-1834
Wire Service Contact:
IBN
Los Angeles, California
www.InvestorBrandNetwork.com
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