Trans Global Group Inc (OTCMKTS:TGGI) is set to release numerous news items over the imminent weeks giving the market adequate time to digest Cannabis Consortium’s scope. In August 2017, the company initiated an extended restructuring stage to lower the total count of Authorized shares and the total count of shares traded in the Float.
So far, the company has successfully lowered its Authorized shares by more than 2.7 billion Common shares and successfully lowered its float by 300 million common shares. In addition, there are two more planned reductions that will materialize over the upcoming few weeks that will lower the count of free trading shares in the Float. Trans Global has already advanced detailed plans for additional reductions in the float amounting 3 billion shares, and probably more, once all the corporate plans for its Cannabis Consortium subsidiary have been concluded.
Cannabis Consortium is a subsidiary firm that was bought by Trans Global in 2010 to establish an active trading subsidiary. The subsidiary firm itself was launched in 1998 as a Blank Check Shell and presently has 47 shareholders. Cannabis has already talked to, and will be holding, Counsel during October 2017 to set and submit a Reg A so it can then start to access capital markets as a distinct trading entity from its parent company.
Once the Reg A has been permitted, Cannabis will coordinate with a Market Maker to submit a Form 15c-211 so the firm can independently list under its own name and trading ticker symbol. Trans Global and its shareholders will continue to be the majority shareholder within Cannabis.
After Cannabis has been listed as a separate entity, a plan will be showcased to Trans Global shareholders enabling them to exchange a part of their TGGI shares in lieu for Cannabis shares. This action is planned to expand the investor base of Cannabis and simultaneously both lower TGGI’s float, and TGGI’s outstanding shares.