SFWJ / Medcana Announces it is Canceling over 80 Million Shares
Rhea-AI Summary
Medcana (OTC PINK:SFWJ) has announced the cancellation of 86,916,294 shares of its Common stock. The shares, which were issued several years ago and held in book entry by the transfer agent, will be fully canceled without any new shares being issued as replacement.
This strategic move is part of the company's efforts to reduce the share structure inherited from its shell merger. CEO José Gabriel Díaz described this as an 'excellent first step' while highlighting the company's progress in advancing operations in Colombia.
Medcana operates as a U.S.-based public company in the international medical cannabis sector, focusing on production, research, and global distribution of pharmaceutical-grade cannabis products through its Colombian operations and strategic partnerships.
Positive
- Cancellation of 86.9M shares reduces share dilution
- No new shares being issued as replacement
- Strategic move to strengthen share structure
Negative
- Existence of legacy shares that could have entered the system at any time
News Market Reaction
On the day this news was published, SFWJ gained 3.33%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AUSTIN, TEXAS / ACCESS Newswire / April 10, 2025 / Software Effective Solutions Corp. (OTC PINK:SFWJ), doing business as Medcana, is canceling 86,916,294 million shares of its Common stock.
The shares were issued several years ago, and even though they have a legend on them, they could have entered the system at any time. This will be a full cancellation, and no new shares are being issued to replace them. The transfer agent holds the shares in book entry. The paperwork has been supplied by both the Company and the current shareholder to facilitate the cancellation.
The Company is working to significantly reduce the share structure it inherited when it merged into the shell.
José Gabriel Díaz, our CEO, stated, "This is an excellent first step, but we have more work to do. We are making tremendous strides in advancing our operations in Colombia, and a stronger share structure will help enhance our value for all shareholders."
About Medcana
Medcana is a U.S.-based public company operating in the international medical cannabis sector. Through its Colombian operations and strategic partnerships, Medcana is focused on the production, research, and global distribution of high-quality pharmaceutical-grade cannabis products.
For investor relations or media inquiries, please contact:
investors@medcana.com
www.medcana.com
Twitter: @MedcanaCo
SOURCE: Software Effective Solutions
View the original press release on ACCESS Newswire
FAQ
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