SafeSpace Global Secures Shareholder Approval to Increase Authorized Shares of Common Stock

Rhea-AI Summary

SafeSpace Global (OTCID: SSGC) announced that shareholders approved an amendment to increase authorized common shares from 200,000,000 to 300,000,000 and to authorize 30,000,000 shares of blank‑check preferred stock.

Shareholders voted 98.44% in favor with 54.73% participation; the Company filed the Certificate of Amendment with the Nevada Secretary of State. Management says the change increases financial flexibility for growth and capital‑raising.

Positive

• Authorized common shares increased from 200,000,000 to 300,000,000
• 30,000,000 shares of blank‑check preferred stock authorized
• Shareholder approval with 98.44% of votes cast in favor
• Company filed the Certificate of Amendment with Nevada Secretary of State

Negative

• Potential dilution risk to existing common shareholders from new authorized shares
• Authorization of blank‑check preferred stock could subordinate common equity or affect voting
• Only 54.73% participation of outstanding shares in the written consent solicitation

News Market Reaction – SSGC

-2.82%

1 alert

-2.82% News Effect

On the day this news was published, SSGC declined 2.82%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Knoxville, Tennessee, March 23, 2026 (GLOBE NEWSWIRE) -- SafeSpace Global Corporation (OTCID: SSGC) today announced in a Current Report on Form 8-K with the Securities and Exchange Commission, that its stockholders have delivered a near-unanimous mandate, with 98.44% of votes cast in favor, approving an amendment to the Company's Amended and Restated Articles of Incorporation to increase the total number of authorized shares of common stock from 200,000,000 to 300,000,000 and to authorize 30,000,000 shares of "blank check" preferred stock.

The written consent solicitation expired at 11:59 p.m. Eastern Time on March 19, 2026.

Proposal: Amendment to Increase Authorized Shares of Common Stock and Authorize Preferred Stock – APPROVED

Of the 189,349,097 shares of common stock outstanding and entitled to vote, 54.73% of holders participated in the solicitation. The results were as follows:

	Shares	% of Votes Cast		% of Outstanding
For	102,017,284	98.44%		53.87%
Against	1,614,394	1.55%		0.85%
Abstain	6,275	0.00%		0.00%

"We are grateful for the strong support our shareholders have shown. This vote reflects a shared confidence in where SafeSpace Global is headed and with this capital structure now in place, we have the financial flexibility we need to accelerate our growth, pursue strategic opportunities, and continue delivering on our mission to transform safety outcomes, and help save lives through our advanced AI platform. This is an important milestone, and we remain deeply committed to building long-term value for everyone who has invested in this Company.", Scott M. Boruff, Chairman and Chief Executive Officer.

The Company has subsequently filed the Certificate of Amendment with the Nevada Secretary of State. Management believes this action meaningfully strengthens the Company's ability to execute on its growth strategy and pursue capital-raising opportunities to support ongoing operations and product development.

ABOUT SAFESPACE GLOBAL CORPORATION

SafeSpace Global Corporation (OTCID: SSGC) is a publicly traded technology company providing proprietary multimodal, advanced, AI safety solutions in their mission to help save lives. The Company's platform delivers advanced threat detection, incident notification, and comprehensive security capabilities designed to protect people and property across multiple sectors, verticals and use-cases.

As of February 2026, SafeSpace Global is generating recurring monthly revenue through service contracts with senior living facilities utilizing its AI-powered safety monitoring platform. The Company now has offices in both Knoxville and Nashville, Tennessee.

SafeSpace Global Corporation: https://www.safespaceglobal.ai

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve known and unknown risks, uncertainties, and other factors that may cause the Company's actual results, performance, or achievements to be materially different from any future results, performances, or achievements expressed or implied by the forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding revenue generation, commercial expansion, partnership development, the Company's uplisting initiative, and future financial performance. SafeSpace Global Corporation undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law. Investors are cautioned not to place undue reliance on these forward-looking statements.

Investor Relations Contact:
Carmel Fisher
Investor Relations | SafeSpace Global Corporation
+1 (310) 745-9171
Investors@safespaceglobal.ai

Media Contact:
Harvest Communications
info@harvestcomms.com

FAQ

What did SSGC shareholders approve on March 19, 2026?

Shareholders approved increasing authorized common shares and authorizing preferred stock. According to the company, holders approved raising common stock from 200M to 300M and authorizing 30M blank‑check preferred shares on March 19, 2026.

How decisively did SSGC shareholders vote on the amendment?

The amendment passed with overwhelming support from votes cast. According to the company, 98.44% of votes cast were in favor, with 102,017,284 shares voting for the proposal.

What percentage of SSGC outstanding shares participated in the vote?

About 54.73% of outstanding shares participated in the written consent solicitation. According to the company, 54.73% of the 189,349,097 outstanding shares were represented in the vote.

Has SafeSpace Global completed the corporate amendment filing?

Yes, the Company filed the amendment with the state registrar. According to the company, it subsequently filed the Certificate of Amendment with the Nevada Secretary of State.

What does the authorization of 30,000,000 preferred shares mean for SSGC common holders?

It creates a new class that could be issued later and impact common stock rights. According to the company, 30,000,000 blank‑check preferred shares are now authorized, which could affect dividends, liquidation priority, or voting if issued.

How might the increase in authorized shares affect SSGC's ability to raise capital?

The change gives management greater flexibility to raise capital or pursue transactions. According to the company, the expanded capital structure is intended to support growth, product development, and additional capital‑raising opportunities.