Las Vegas, Nevada–(Newsfile Corp. – May 20, 2022) – GENERAL EUROPEAN STRATEGIC INVESTMENTS INC. 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 shares enabling it to implement strategic funding opportunities.
Under the proposal:
- The Company will seek the consent of the majority shareholder to authorize the designation of 1,500,000 of its 10,000,000 authorized preferred shares as a new series of preferred shares entitled “Series C Preferred Shares” with a par value of $0.0001.
The 1,500,000 Series C Preferred Shares are to be convertible on a 1:100 basis after the company’s shares trade 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 an additional registration right.
Along with the planned change in stock designation, it is expected that approximately 100 million restricted common shares, currently outstanding with company control and affiliated shareholders, would be canceled and replaced with 1 million preferred shares C , subject to the conclusion of the discussions currently underway. .
Wolfgang Rauball, managing director of General European Strategic Investments Inc., agreed to receive a salary of $1 per year, demonstrating his total commitment to creating value for all shareholders.
Wolfgang Rauball, CEO of GESI, said, “Following majority shareholder approval, we plan to submit a designation certificate to the Nevada Secretary of State to effect this stock designation change. Through the use of these authorized preferred shares, the company’s management believes it will be better able to attract funding from a variety of strategic sources.”
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 anything that predicts, predicts, indicates or imply future results, performance or achievement, and may contain the words “estimate”, “project”, “intend”, “expect”, “anticipate”, “plan”, “plan”, “expect “, “believe”, “likely”, “should”, “could”, “would”, “could” or similar words or expressions. These statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the actual results and financial condition of the Company to differ materially from those contained in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. may differ significantly from x expected and any report should not be taken as an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, and all usual and customary economic, competitive and market conditions/risks.
Robert Seguin, Vice President, Investor Relations
General European Strategic Investments Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/124774