Las Vegas, NV, July 27, 2017 (GLOBE NEWSWIRE) -- South American Gold Corp (OTC: SAGD), a company that has for some time been focused on cannabis related businesses, and recently transitioned to include being an operational management company focused on enhancing shareholder value by acquiring and operating undervalued assets, is excited to share with its shareholders its strategies to enhance shareholder value.
SAGD's will be spinning off its businesses that are not cannabis related to its shareholders. This means that each shareholder of SAGD as of the date of the spin off, will also receive a stock dividend representing shares in the new entity which will contain all of current businesses of SAGD that are not related to cannabis. These businesses include, SmartLicensee, BITmineshaft, and the recently signed acquisitions of ASK A.B.E. and CarRights.com (signed on July 24th, 2017, public information to be released shortly). In addition, all non-cannabis assets, LOIs, and acquisitions that are presently being explored or pursued will be included in this spin-off entity.
SAGD President, David Reeves, stated, "This is a very exciting time to be an SAGD shareholder. Since each shareholder will now receive a stock dividend, each SAGD shareholder will increase their holdings of SAGD products. I am tremendously excited to lead this new company into its next phase of accelerated and explosive growth. I will also continue to run the businesses remaining inside SAGD on an interim basis. We have already begun a nationwide search for a premier executive to lead SAGD’s cannabis related businesses and I’ll be assisting in that process as well.”
SAGD will be making additional announcements on the logistics of this spin off strategy. It is expected that the spin-off will occur sometime within the next 30 to 60 days.
About South American Gold Corp:
South American Gold Corp is a publicly traded company on the OTC under the symbol SAGD, focused on enhancing shareholder value by acquiring and operating undervalued assets.
For more information:
Corporate Website: www.sagdcorp.co
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Disclaimer: This release contains forward-looking statements that are based on beliefs of South American Gold Corp. management and reflect South American Gold Corp.'s current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and section 21E of the Securities and Exchange Act of 1934, as amended. When we use in this release the words "estimate," "project," "looks," "believe," "anticipate," "intend," "expect," "plan," "predict," "may," "should," "will," "can," the negative of these words, or such other variations thereon, or comparable terminology, are all intended to identify forward looking statements. Such statements reflect the current views of South America Gold Corp. with respect to future events based on currently available information and are subject to numerous assumptions, risks and uncertainties, including but not limited to, risks and uncertainties pertaining to development of mining properties, changes in economic conditions and other risks, uncertainties and factors, which may cause the actual results, performance, or achievement expressed or implied by such forward looking statements to differ materially from the forward looking statements. The information contained in this press release is historical in nature, has not been updated, and is current only to the date shown in this press release. This information may no longer be accurate and therefore you should not rely on the information contained in this press release. To the extent permitted by law, South American Gold Corp. and its employees, agents and consultants exclude all liability for any loss or damage arising from the use of, or reliance on, any such information, whether or not caused by any negligent act or omission. This press release may incorporate by reference the Company's reports and other filings. Investors are encouraged to review all filings. There is no assurance South American Gold Corp. will identify projects of merit or if it will have sufficient financing to implement its business plan. There is no assurance that the Company's due diligence on the potential projects and/or acquisitions will be favorable nor that definitive terms can be negotiated. Investors should consult their financial advisor before making an investment in a company.
Source:South American Gold Corp.