Latest Greystone Logistics (GLGI) Headlines G
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Posted On: 03/10/2014 12:14:16 AM
Latest Greystone Logistics (GLGI) Headlines
Greystone Announces Rescission of Reverse Stock Split
Marketwire - Wed Feb 05, 4:57PM CST
Greystone Logistics, Inc. (OTCBB: GLGI) (OTCQB: GLGI),(the "Company") announced today that it will not proceed with the proposed one for ten thousand (1-10,000) reverse stock split of the Company's Common Stock and a cash payment per share for resulting fractional shares equal to $0.50. The Company had previously filed a Preliminary Proxy Statement on Schedule 14A with the United States Securities and Exchange Commission relating to a Special Meeting of Shareholders of the Company to vote on an amendment to the Company's Certificate of Incorporation that would authorize the proposed reverse stock split. The Company also announced today that the Special Meeting of Shareholders of the Company relating to the proposed reverse stock split will not be held. The primary purpose of the proposed reverse stock split was to reduce the number of holders of record of the Company's Common Stock to fewer than 300, in order for the Company to be able to terminate the registration of its Common Stock under the Securities Exchange Act of 1934, as amended. Bill Rahhal, the Company's Chief Financial Officer, said that the cost associated with the proposed reverse stock split was the primary reason for the decision of the Company's Board of Directors to not proceed with the proposed reverse stock split, as the estimated cost of effecting the proposed reverse stock split has increased substantially since the Preliminary Proxy Statement was filed.
Greystone Announces New Long Term Financing
Marketwire - Wed Feb 05, 4:55PM CST
Greystone Logistics, Inc. (OTCBB: GLGI) (OTCQB: GLGI), (the "Company") announced that the Company and Greystone Manufacturing, L.L.C. ("GSM"), a wholly-owned subsidiary of the Company, entered into a Loan Agreement on January 31, 2014 with International Bank of Commerce ("IBC"), pursuant to which IBC will provide the Company and GSM with a revolving line of credit of up to $2,500,000 and term loan of $9,200,000. The exact amount which can be borrowed under the revolving line of credit from time to time depends upon the amount of the borrowing base, but can in no event exceed $2,500,000.
Greystone Logistics Manufactures Pallets for Anheuser Busch
Marketwire - Tue Dec 10, 5:00AM CST
Greystone Logistics, Inc. (OTCQB: GLGI) announced the company recently manufactured and shipped recycled plastic pallets to various sites in the Anheuser Busch system as part of a pallet test and product evaluation.
Greystone Logistics Reports Unaudited Results for Quarter Ended February 28, 2013
PR Newswire - Mon May 06, 6:00AM CDT
Greystone Logistics, Inc. (OTCQB: GLGI), announced today unaudited results for the quarter ended February 28, 2013.
Greystone Logistics Presents at MicroCapClub Invitational
PR Newswire - Fri Feb 01, 5:00AM CST
Greystone Logistics, Inc. (OTCQB: GLGI). Greystone Logistics announced today it has been selected to present at the first ever MicroCapClub Invitational.
Greystone Announces Rescission of Reverse Stock Split
Marketwire - Wed Feb 05, 4:57PM CST
Greystone Logistics, Inc. (OTCBB: GLGI) (OTCQB: GLGI),(the "Company") announced today that it will not proceed with the proposed one for ten thousand (1-10,000) reverse stock split of the Company's Common Stock and a cash payment per share for resulting fractional shares equal to $0.50. The Company had previously filed a Preliminary Proxy Statement on Schedule 14A with the United States Securities and Exchange Commission relating to a Special Meeting of Shareholders of the Company to vote on an amendment to the Company's Certificate of Incorporation that would authorize the proposed reverse stock split. The Company also announced today that the Special Meeting of Shareholders of the Company relating to the proposed reverse stock split will not be held. The primary purpose of the proposed reverse stock split was to reduce the number of holders of record of the Company's Common Stock to fewer than 300, in order for the Company to be able to terminate the registration of its Common Stock under the Securities Exchange Act of 1934, as amended. Bill Rahhal, the Company's Chief Financial Officer, said that the cost associated with the proposed reverse stock split was the primary reason for the decision of the Company's Board of Directors to not proceed with the proposed reverse stock split, as the estimated cost of effecting the proposed reverse stock split has increased substantially since the Preliminary Proxy Statement was filed.
Greystone Announces New Long Term Financing
Marketwire - Wed Feb 05, 4:55PM CST
Greystone Logistics, Inc. (OTCBB: GLGI) (OTCQB: GLGI), (the "Company") announced that the Company and Greystone Manufacturing, L.L.C. ("GSM"), a wholly-owned subsidiary of the Company, entered into a Loan Agreement on January 31, 2014 with International Bank of Commerce ("IBC"), pursuant to which IBC will provide the Company and GSM with a revolving line of credit of up to $2,500,000 and term loan of $9,200,000. The exact amount which can be borrowed under the revolving line of credit from time to time depends upon the amount of the borrowing base, but can in no event exceed $2,500,000.
Greystone Logistics Manufactures Pallets for Anheuser Busch
Marketwire - Tue Dec 10, 5:00AM CST
Greystone Logistics, Inc. (OTCQB: GLGI) announced the company recently manufactured and shipped recycled plastic pallets to various sites in the Anheuser Busch system as part of a pallet test and product evaluation.
Greystone Logistics Reports Unaudited Results for Quarter Ended February 28, 2013
PR Newswire - Mon May 06, 6:00AM CDT
Greystone Logistics, Inc. (OTCQB: GLGI), announced today unaudited results for the quarter ended February 28, 2013.
Greystone Logistics Presents at MicroCapClub Invitational
PR Newswire - Fri Feb 01, 5:00AM CST
Greystone Logistics, Inc. (OTCQB: GLGI). Greystone Logistics announced today it has been selected to present at the first ever MicroCapClub Invitational.
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