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Las Vegas, Nevada–(Newsfile Corp. – May 20, 2022) – GENERAL EUROPEAN STRATEGIC INVESTMENTS INC. (OTC Pink: GESI) (the “Company or GESI”) is pleased to announce that following a strategic review of its capital structure, it plans to seek majority shareholder approval to designate a new series of preferred stock allowing it to implement strategic financing opportunities.
Under the proposal:
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The Company will seek majority shareholder consent to authorizes the designation of 1,500,000 of its 10,000,000 authorized shares of preferred stock as a new series of preferred stock entitled “Series C Preferred Stock” with a par value of $0.0001.
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The 1,500,000 Series C Preferred Stock is to be convertible on a 1:100 basis after the Company’s stock trades at a volume-weighted average price (VWAP) of $5.00 for 20 consecutive days. These shares will not have voting, dividend or liquidation rights but will have piggyback registration rights.
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In conjunction with the planned change in stock designation, it is anticipated that approximately 100 million restricted common shares, currently outstanding with Company controlling, and affiliate, shareholders would be cancelled and replaced with 1 million Preferred C shares, subject to conclusion of discussions currently underway.
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Wolfgang Rauball, Chief Executive Officer of General European Strategic Investments Inc., has agreed to take a salary of $1 per year, demonstrating his full commitment to creating value for all shareholders.
Wolfgang Rauball, GESI’s CEO, stated, “following majority shareholder approval we plan to submit a Certificate of Designation to the Nevada Secretary of State to effect this change in stock designation. Through the use of these authorized preferred shares, the Company’s management believes it will be able to better attract funding from various strategic sources.”
Forward-Looking Statements:
This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the Company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, together with all usual and common economic, competitive, and equity market conditions / risks.
Contact:
Robert Seguin, V.P., Investor Relations
General European Strategic Investments Inc.
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124774
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