Franchise Holdings International, Inc.'s CEO, Steven Rossi, Retires 100,000,000 Common Shares
TORONTO, ON--(Marketwired - September 22, 2017) - Steven Rossi, CEO of Franchise Holdings International, Inc., the parent company of Truxmart LTD Inc., (OTC PINK: FNHI), an innovative manufacturer of high quality, functional, and aggressively priced tonneau covers for the light truck market, has retired 100,000,000 FNHI common shares, reducing the issued and outstanding shares by approximately 45 percent, from 222,000,000 to 122,000,000 shares. The OTC Markets site should be updated to reflect the new share structure within one week following this announcement.
Rossi characterized this move as "a major step forward." It should further assist FNHI's ambitious growth plan and add to its quest to create a sound and debt-free balance sheet. This action comes while management works diligently to file its Form 10-Qs for the first two quarters of 2017. The company expects to be current within the coming weeks.
"We seek to bring our shareholders the best value possible, while maintaining an enviable share structure," commented Rossi. "This important move, reducing the issued and outstanding shares, further poises the company for growth and expansion, with a stronger capital base."
The company also expects to announce details of a private placement offering in the near future. To register in advance of the private placement offering, please visit www.investfnhi.com.