CHARLOTTE, N.C., March 11, 2020 (GLOBE NEWSWIRE) — CAVU Resources (CAVR) announced: In a private transaction that closed on March 2nd, 2020, the company completed an all-cash share buyback of all its Preferred A shares, in addition to all common shares held by its previous CEO and affiliated groups. The number of shares to be returned to treasury is the equivalent of 118,007,477 common shares which will be reflected with the Transfer Agent.
As the company continues to develop its “Growing Together” brand, management remains fully committed to shareholder friendly transactions involving no toxic dilution.
“In the best interest of our future and the best interest of our shareholders, we felt it was critical to tighten, strengthen our position, mitigate risk and eliminate the past by investing in ourselves. Now that we’ve successfully executed and closed our share buyback strategy, we are excited and are focusing on completing the final requirements in order to move CAVU (CAVR) to the OTCQB.” CAVU CEO Bob Silver.
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, among other thing, statements regarding the offering, the expected gross proceeds, the expected use of proceeds and the expected closing of the offering. Any forward-looking statements contained herein are based on current expectations and are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell its products; the expected benefits and efficacy of the Company’s products; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company’s business, research, product development, and marketing and distribution plans and strategies.