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newsroom 04-17-2014 08:07 AM

Zoned Properties retires shares
 
Zonedproperties, a lessor of land, facilities and equipment to the medical marijuana industry has announced it has reached a decision with two large shareholders of the company, including the former CEO, to retire a total of 4,576,283 shares of common shares, which represent 15.8 % of the total outstanding shares of the company. These shares will return to the company treasury. As a result, the company will have a total of 24,374,009 shares issued and outstanding.

Zoned Properties, Inc. interim CEO, Bryan McLaren stated, "After speaking with our board members and advisors to the company, the shareholders agreed this was a prudent step in helping the company accomplish its goals and benefit all of our shareholders. The return of these shares into the company treasury gives our organization the opportunity to fund expansion with favorable terms and minimize dilution to our shareholders. We are inspired that our shareholders believe in the direction of the company and applaud their efforts to help the company position itself for future growth and success while maintaining shareholder value."


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