NetworkNewsBreaks – Zoned Properties Inc. (ZDPY)
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Posted On: 04/23/2024 5:30:56 PM
NetworkNewsBreaks – Zoned Properties Inc. (ZDPY) Announces $1M Stock Repurchase Program
Zoned Properties (OTCQB: ZDPY), a leading real estate development firm for emerging and highly regulated industries including legalized cannabis, today announced that its board of directors has approved a share repurchase program, pursuant to which the company is authorized to purchase up to $1 million of its common stock over an unlimited time period. “As our business continues to outperform in a challenging overall operating environment, we are thrilled to announce this share repurchase program. The approval of this program demonstrates the management team’s and board’s confidence in our prospects for the future, ongoing operational strength and sound capital structure,” said Bryan McLaren, chief executive officer of Zoned Properties. “As we scale the investment portfolio, we are keeping conservative in our capital allocation strategy while also acknowledging the significant valuation gap between our public valuation and tangible book value. Due to this, it is crucial for us to be adaptable and make sure we are doing everything possible to increase shareholder value. As always, we remain committed in our strategic focus, and look forward to updating shareholders on our progress.”
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://nnw.fm/ZDPY
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
Zoned Properties (OTCQB: ZDPY), a leading real estate development firm for emerging and highly regulated industries including legalized cannabis, today announced that its board of directors has approved a share repurchase program, pursuant to which the company is authorized to purchase up to $1 million of its common stock over an unlimited time period. “As our business continues to outperform in a challenging overall operating environment, we are thrilled to announce this share repurchase program. The approval of this program demonstrates the management team’s and board’s confidence in our prospects for the future, ongoing operational strength and sound capital structure,” said Bryan McLaren, chief executive officer of Zoned Properties. “As we scale the investment portfolio, we are keeping conservative in our capital allocation strategy while also acknowledging the significant valuation gap between our public valuation and tangible book value. Due to this, it is crucial for us to be adaptable and make sure we are doing everything possible to increase shareholder value. As always, we remain committed in our strategic focus, and look forward to updating shareholders on our progress.”
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://nnw.fm/ZDPY
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or republished: http://NNW.fm/Disclaimer
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