ITOCO Gives Shareholders Stronger Say in Company’s Future
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Rhea-AI Summary
ITOCO INC. (OTC:ITMC) has announced the cancellation of its existing voting block of shares, which previously allowed control by a single individual. This change is designed to enhance shareholder influence over the company’s future. CEO Michael Paul stated that this decision is a significant step toward improving shareholder input. Additionally, ITOCO is revising its agreement with its subsidiary, Colorful Euphoria, Lda, to clarify its role in managing growth in Europe and Africa, with completion expected by the month's end.
Positive
- Cancellation of voting block increases shareholder control.
- Revised agreement with subsidiary aims to clarify management roles.
Negative
- None.
Details
News Market Reaction – ITMC
The recorded move for ITMC in the trading session of this news was +53.46%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
TORONTO, ON / ACCESSWIRE / October 14, 2022 / ITOCO INC. (OTC:ITMC) is pleased to announce that it is cancelling the existing voting block of shares that allowed control of the company to be held by one individual, thereby giving all shareholders a stronger voice in the future of the company.
"This is something that was long overdue and provides our shareholders with the opportunity to have more input into the company's growth," says CEO and President Michael Paul.
The company also announces that it is revising its agreement with Colorful Euphoria, Lda, the subsidiary based in Lisbon, Portugal, which is managing the company's growth in Europe and Africa. The revised agreement, expected to be completed by or before the end of this month, will provide more clarity to Colorful Euphoria's role.
"ITOCO is building an exciting future and these decisions will strengthen the company's position moving forward," Mr. Paul says.
ABOUT ITOCO INC.
ITOCO's mission is to be a global leader in soil rehabilitation, carbon sequestering, and biofuel production for the Clean Energy sector. ITOCO has developed and is promoting its Soil Rescue Program in Europe and Africa. ITOCO Inc. trades on the OTC Markets, symbol: ITMC. ITOCO is a 14-year-old publicly quoted Biotech company based in Toronto Canada, Lisbon Portugal and Nevada USA. ITOCO seeks to partner with outstanding individuals and companies within the land regeneration, climate change and bioenergy fields to joint venture, research, and co-develop related products and technologies to the market.
ITOCO Energy
ITOCO Soil Rescue
ITOCO Carbon Capture
ITOCO Climate Change
For further information, please contact our Investor Relations department at: stephen@itoco.net.
CONTACT:
Michael Paul, C.E.T.
President & CEO
ITOCO INC
ir@itoco.net
SOURCE: ITOCO Inc.
View source version on accesswire.com:
https://www.accesswire.com/720531/ITOCO-Gives-Shareholders-Stronger-Say-in-Companys-Future
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