UA Multimedia Inc. Retires 40 Million Common Shares
IRVINE, CA -- (InvestorsHub NewsWire Jan 31, 2017) UA
Multimedia, Inc. (OTC: UAMM), a technology and indoor growing solution
provider, is pleased to announce that the Company is retiring 40
million shares of its Common stock.
The Company had successfully reached an agreement with a major
shareholder to retire 40 million shares of aged restricted Common
stock. The share cancellation represents an approximate ten percent
reduction of the stock issued and outstanding.
In addition to working on the final stage with OTC Markets and
other entities to achieve the Current listing status, the Company
continues to look for ways to optimize its operation and capital
structure in anticipating for rapid future growth.
Upon achieving the Current status, the Company will initiate the
process for a name and ticker change to better reflect its new
direction and to facilitate successful branding efforts.
The development of the indoor growth station prototype is
progressing well. The Company expects to begin testing several
models in a few weeks and swiftly proceed to the production shortly
thereafter. In addition, the Company is working on a few other
solutions for the cannabis sector and will update its shareholder
in the near future.
We have been receiving increasing amount of interest for
personal indoor grow systems since the beginning of this year,
stated Thu Pham, Chief Executive Officer. We are confident that our
cost effective, high quality solutions will be very well received
and a solid revenue stream for the Company.
The Company will begin offering pre-sale units at a discount
sometime next month. Interested customers should contact the
Company at info@uammedia.com.
About UA Multimedia, Inc.
UA Multimedia, Inc., a former media company, has entered the
cannabis industry with the anticipated launch of its turn-key
modular indoor growing systems. The Company also plans to introduce
a range of cannabis based products and dietary supplements in the
near future.
For more information, please visit http://www.uammedia.com. Facebook: https://www.facebook.com/uammedia.
Forward Looking Statements
This release contains forward-looking statements within the
meaning of Section 27a of the Securities Act of 1933, as amended
and section 21e of the Securities and Exchange Act of 1934, as
amended. Those statements include the intent, belief or current
expectations of the company and its management team. Some or all of
the events or results anticipated by these forward-looking
statements may not occur. Prospective investors are cautioned that
any such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those projected in the
forward-looking statements as a result of various factors.
Accomplishing the strategy described herein is significantly
dependent upon numerous factors, many that are not in management's
control. UA Multimedia, Inc. does not undertake any duty nor does
it intend to update the results of these forward-looking
statements.
Contact
UA Multimedia, Inc.
Investor Relations
949.612.1927
info@uammedia.com