Company seeks to increase flexibility to issue stock in the future

 

Adds managers of Montana Apothecary LLC and DC’s Finest, LLC as board members

 

Washington, D.C. / TheNewswire / March 28, 2018 – VuMee Inc. (OTCMKTS: VUME) (“VuMee”) today announced that on March 27, 2018, its board of directors and stockholders approved a reverse one-for-ten (1-for-10) stock split of its issued and outstanding shares of common stock. Fractional shares which result from the reverse stock split will be rounded up to the nearest whole share. The reverse stock split will have no effect on the number of shares of authorized stock of VuMee.

 

“By effecting a reverse stock split, VuMee will have more flexibility to issue shares of common stock going forward, including as consideration in acquisitions, in private placements, or in registered offerings, if the company chooses to do so,” said Sean Jahanian, President and CEO of VuMee.

 

The board and stockholder approval is the first step towards effecting the reverse stock split. The officers of VuMee will take steps to approve the reverse stock split by making the requisite filings with FINRA, the OTC Markets, the State of Nevada, DTC and any other agency which has the regulatory authority over the reverse stock split.

 

VuMee’s stockholders also approved the appointment of Robert L. Simmons and Matthew Lawson-Baker as the company’s new directors. They will join Sean Jahanian on the three-person board. Mr. Simmons and Mr. Lawson-Baker manage Montana Apothecary LLC and DC’s Finest, LLC, companies which executed a Share Exchange Agreement with VuMee on February 23, 2018, and which own and operate medical marijuana cultivation facilities in the Washington, D.C., metro area.

 

The reverse stock split and the appointment of new board members was approved by stockholders holding more than 70% of the voting power of VuMee.

 

Forward Looking Statements

 

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Because they discuss future events or conditions, forward-looking statements may include words such as “will,” “anticipate,” “believe,” “intend,” “could,” “may,” “seek,” “plan,” or similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding business strategies, financing plans and any other statements that are not historical facts. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual future results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.