Bemax Inc. Announces Updates on Special Dividend Distribution

Rhea-AI Summary

Bemax Inc. (BMXC) has announced an extension of the distribution date for its previously declared special dividend of Series A Convertible Preferred Stock to June 30, 2025. Shareholders of record as of March 28, 2025, will receive preferred stock valued at 10% of their total common shares held.

The Series A Preferred Stock features include:

• Convertibility into 30 common shares after a 180-day holding period
• Equal dividend rights as common stockholders
• Ex-dividend date set for March 31, 2025

The extension allows additional time for FINRA corporate action processing. Shareholders can contact Bemax directly for distribution details. The company views this preferred stock dividend as potentially creating meaningful value for mid to long-term shareholders.

Positive

• Special dividend distribution rewards existing shareholders
• Each preferred share convertible to 30 common shares
• Preferred shareholders entitled to equivalent dividends as common stockholders

Negative

• Extended distribution date indicates delayed execution of corporate action
• 180-day mandatory holding period limits immediate liquidity
• Additional regulatory requirements may cause further delays

Dallas, Georgia--(Newsfile Corp. - April 3, 2025) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable household and private label technology products, is pleased to announce today that it has extended the distribution date for the declared special dividend of Bemax Series A Convertible Preferred Stock, in which every common stock shareholder shall receive the corporation's convertible Series A Preferred Stock value, which is 10% of the total common shares owned of the corporation common stock.

The dividend payable date is now extended till June 30, 2025, to stockholders of record at the close of business on March 28, 2025. This is to allow for adequate time to complete the corporate action processing with FINRA. Meanwhile, all common shareholders as of March 28, 2025, can now contact Bemax directly for additional details on the stock dividend distribution.

Each Bemax Series A Preferred Stock can convert into thirty (30) common stock beginning on the first day following the 180-day anniversary of issuance, and the common stock becomes tradable after the mandatory regulatory holding period. In the event the Board of Directors declares a dividend on the common stock, holders of the Series A Preferred Stock will be entitled to receive an equivalent dividend as if the Series A Preferred Stock had been converted into common stock prior to the declaration of such dividend.

Regarding the dividend, Taiwo Aimasiko, Bemax CEO, commented, "We are committed to rewarding our passionate and supportive shareholders with a dividend of Bemax Series A Convertible Preferred Stock."

Bemax CEO, Taiwo Aimasiko, concluded, "As previously stated, this Preferred Stock dividend has tremendous potential to create meaningful value for Bemax and for our mid- to long-term shareholders."

Investors should note shares purchased on or after the ex-dividend date (March 31, 2025) will no longer be entitled to the dividend.

For additional information about the Bemax Series A Convertible Preferred Stock and the convertibility of the Preferred Stock into Common Stock, please contact Bemax or our transfer agent directly. For additional information, visit the investor page on the company's website at www.bemaxinc.com.

About Bemax Inc.
About Bemax Inc. Bemax Inc. is a forward-thinking company dedicated to delivering top-quality disposable diapers and women's hygienic sanitary products. With a focus on innovation and customer satisfaction, Bemax continues to expand its product offerings and distribution network, aiming to exceed the expectations of its growing customer base. Bemax Inc. exports and distribute private label household products to the global emerging markets. www.bemaxinc.com.

Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

CONTACT INFORMATION
Bemax Inc.
Dallas, GA
USA
Taiwo Aimasiko
Email: admin@bemaxinc.com
Tel: (470) 582 0807 ext. 101

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247169

FAQ

What is the conversion ratio for BMXC's Series A Preferred Stock dividend?

Each Series A Preferred Stock can be converted into 30 common shares after a 180-day holding period following issuance.

When is the record date and distribution date for BMXC's special dividend?

The record date is March 28, 2025, and the distribution date has been extended to June 30, 2025.

How much Series A Preferred Stock will BMXC shareholders receive?

Shareholders will receive preferred stock valued at 10% of their total common shares owned.

What happens to BMXC's Series A Preferred Stock holders when common stock dividends are declared?

Series A Preferred stockholders receive equivalent dividends as if their shares had been converted to common stock.

What is the ex-dividend date for BMXC's special preferred stock dividend?

The ex-dividend date is March 31, 2025. Shares purchased on or after this date are not entitled to the dividend.