Agtech Global International Inc. Announces a Significant Reduction of its Share Capital

Rhea-AI Summary

Agtech Global International Inc. (OTC Pink: AGGL) announced a strategic reduction of its common shares from 185,000,000 to 135,000,000, equating to a 27% enhancement in shareholder value. This reduction involves converting 50,000,000 common shares into convertible preferred shares, signaling management's confidence in future growth. CEO Ross Lyndon-James highlighted the CBD market's projected 500% growth and the potential of Galexxy's Virtual Retail Marketing System (VRMS) to leverage this opportunity. The company has also filed a provisional patent to protect its VRMS technology.

Positive

• Reduction of common shares from 185 million to 135 million, enhancing shareholder value by 27%.
• Management's conversion of common shares to convertible preferred shares indicates confidence in the company's future prospects.
• The CBD market is anticipated to grow by 500%, presenting significant growth opportunities.
• Galexxy's Virtual Retail Marketing System (VRMS) offers a unique chance for revenue generation with low financial risk.
• Provisional patent application filed for VRMS technology, protecting the company's innovative marketing strategy.

Negative

• None.

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Newport Beach, California, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Agtech Global International Inc., (OTC Pink: AGGL) following its recent acquisition of Galexxy Corporation and subsequent SEC qualification of its Reg A Tier One $20 million public offering, is pleased to inform the market that it has reduced its issued and outstanding common shares to further enhance shareholder value.

This enhancement amounts to a 50,000,000 share-reduction from 185,000,000 to 135,000,000 shares and represents a 27% value improvement for current shareholders.

The capital reduction is enabled by founders and management and is a positive indicator of management’s confidence in the Company’s future by replacing 50,000,000 of their common shares with 50,000,000 convertible preferred shares.

According to Ross Lyndon-James, Agtech’s CEO, “The CBD market is regaining its early momentum and is predicted to grow by 500% in the next few years and management is very excited about Galexxy’s upcoming top quality product launch. Galexxy’s Virtual Retail Marketing System (VRMS) is also expected to create a unique, financial opportunity for individuals, business professionals and retail outlets to generate income without any cost or financial risk.” 

VRMS is a unique hybrid retailing approach combining the physical attributes of the “Brick & Mortar” customer experience with the ease and convenience of online digital shopping through the deployment of its proprietary point-of-sale systems in stores. Galexxy was developed to enable rapid mass marketing of its online CBD product range via thousands of business and retail outlets that have physical contact with millions of consumers.

Galexxy has filed a United States provisional patent application to protect its core Virtual Retail Marketing System technology which underpins its marketing and growth strategy, while creating additional revenue opportunities.

About Us: Agtech is publicly traded on OTC Markets Pink (OTC Pink: AGGL). Based in Newport Beach, California, Agtech recently restructured its agricultural supplies business to enter the rapidly developing markets for premium CBD consumer products. Its “seed to sale” business strategy is keenly focused on the important synergy of health and wealth. 

For further information:

Agtech Global International Inc.
Ross Lyndon-James
E: ross@galexxy.com
M: (949) 418 7450

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “statements”). All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this press release.

https://twitter.com/AgtechGlobal                                   https://www.galexxy.com/

FAQ

What is Agtech Global International's recent share reduction?

Agtech Global International reduced its common shares from 185 million to 135 million, enhancing shareholder value by 27%.

How does Agtech Global's share reduction impact shareholders?

The share reduction increases the value of existing shares by decreasing the total number of shares outstanding.

What is the significance of Galexxy's Virtual Retail Marketing System?

Galexxy's VRMS combines physical retail with digital shopping, creating revenue opportunities for businesses and individuals.

What growth is predicted for the CBD market according to Agtech Global?

The CBD market is predicted to grow by 500% in the coming years.

What patent has Agtech Global filed related to its products?

Agtech Global has filed a United States provisional patent application for its Virtual Retail Marketing System technology.