CANTON, Ga., Jan. 27, 2014 (GLOBE NEWSWIRE) -- Blue Water Global Group, Inc. (OTCBB:BLUU) announces that its Board of Directors has authorized a one-time stock dividend of a portion of Blue Water's equity holdings in Stream Flow Media, Inc. ("Stream Flow"). This dividend will be issued to Blue Water's shareholders after Stream Flow's shares begin trading on the OTCBB. Blue Water intends to use this Stream Flow dividend as a model for future equity investments.
- Blue Water will dividend 25% of its Stream Flow equity holdings (5,000,000 shares) via a one-time stock dividend
- No fractional shares will be issued. Fractional share amounts will be rounded to the nearest whole amount.
- As an example, if the dividend were to be processed today, and based on Blue Water's current capital structure, shareholders would receive approximately one share of Stream Flow for every 46 shares of Blue Water owned.
- The remaining Stream Flow shares will be sold over an 18-24 month period with the net proceeds going towards financing additional units of the Blue Water Bar & Grill™ restaurant concept.
Blue Water's President and CEO, J. Scott Sitra, stated, "Stream Flow has already initiated the process of becoming a public company. Last week they submitted their financial statements for audit and should be able to make their initial SEC filing sometime in the next few weeks. While it is our policy not to comment on specific price targets or valuations, we continue to believe our holdings in Stream Flow will experience significant upside growth after it begins trading on the OTCBB which will sharply enhance Blue Water's overall balance sheet. We intend to use this Stream Flow dividend as a model for future similar equity investment transactions brought to us through our Strategic Alliance with Taurus Financial Partners." Mr. Sitra continued, "So that our shareholders can better understand this entire process, we've prepared a simple-to-follow milestone schedule for Stream Flow receiving its listing on the OTCBB and, ultimately, our shareholders receiving this stock dividend."
Milestones for Stream Flow OTCBB Listing and Stock Dividend:
- Complete Audit of Financial Statements (underway)
- File Initial Form S-1 Registration Statement with the SEC (drafted)
- File Form 15c2-11 Disclosure Statement with FINRA
- Receive FINRA Approval and Trading Symbol on OTCBB
- Apply for DTC Eligibility (allows for electronic trading)
- Register Blue Water's Stream Flow Shares with the SEC on Second Form S-1 Registration Statement (filed simultaneously with DTC Eligibility application)
- Obtain Final FINRA Approval and Specific Record Dates for Stream Flow Stock Dividend
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill™ brand. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.
CONTACT: Investor Relations Contact Craig Fischer 786.375.0556 firstname.lastname@example.orgSource:Blue Water Global Group, Inc.