Two Hands Corporation Reports on Special Meeting Outcomes
Two Hands Corporation (CSE: TWOH.X) (OTC: TWOH) recently held a significant special meeting for its shareholders. This gathering served as a platform to discuss vital changes affecting the company's structure and stock distribution.
Highlights from the Special Meeting
During the meeting, shareholders voted to ratify the issuance of an astonishing 3 billion shares of common stock to Emil Assentato. This allotment stemmed from the conversion of $300,000 in outstanding convertible promissory notes, undeniably marking a new chapter in the company’s framework. Following this transaction, Assentato has acquired 54.85% of Two Hands' common shares, leading to a major shift in control within the company.
Company Name Change
Another important decision made at the shareholder meeting was the approval for the Company's Board of Directors to amend Two Hands Corporation's Articles. This potential name change is subject to approval by the Canadian Securities Exchange (CSE), paving the way for further rebranding and strategic direction.
Consolidation Proposal Blocked
While many aspects were ratified, a notable proposal regarding the consolidation of common shares did not pass. Shareholders rejected a consolidation ratio of 1 post-consolidation common share for every 20,000 pre-consolidation shares. This outcome indicates that the status quo of share distribution will remain, reflecting the shareholders' preferences.
Commitment to Quality and Growth
Two Hands Corporation remains dedicated to the food retail and distribution service industry. With its relentless focus on the consumer non-cyclical sector, the Company strives to deliver high-quality products and services tailored to customer demands. This commitment is integral to its continual growth and adaptability in a competitive market.
Looking Ahead: What’s Next for Two Hands?
The resolutions taken at this special meeting set the stage for Two Hands Corporation’s future activities and potential expansions. With a clear leadership structure now established, the company can pursue new opportunities with confidence. Shareholders and interested stakeholders are advised to stay tuned for further updates concerning the company’s strategic initiatives and potential name change.
Final Thoughts
As the landscape for Two Hands Corporation evolves, it is crucial for investors and customers alike to remain informed. The recent shareholders meeting solidified key decisions that will dictate the company's immediate trajectory, and the refusal to proceed with share consolidation suggests shareholder desire for stability at this pivotal moment.
Frequently Asked Questions
What was the primary focus of the special meeting for Two Hands Corporation?
The primary focus was to approve significant changes, including the issuance of shares and a potential company name change.
Who acquired the majority of common shares following the transaction?
Emil Assentato acquired 3 billion common shares, representing 54.85% of total outstanding shares.
Was there any proposal regarding share consolidation?
Yes, a proposed consolidation ratio was presented but ultimately rejected by the shareholders.
What business sector does Two Hands Corporation operate in?
The company is active in the food retail and distribution service industry.
How can stakeholders keep updated on Two Hands Corporation's developments?
Stakeholders are encouraged to regularly check for announcements from the Company regarding strategic decisions and growth initiatives.
