Irvine, CA (PRWEB) June 02, 2017
Evergreen-Agra, Inc. (OTC:EGRN), a US based SEC reporting public company, today announced that its Board of Directors have initiated the conversion and registration of the Company as a Closed Ended Fund to consolidate equity positions in public companies within the cannabis sector.
The company is filing a request for Unlisted Trading Privileges (UTP) with the registration of the Closed Ended Fund as determined by the Securities and Exchange Commission (SEC) in the Exchange Act, and the UTP Act of 1994. The Act, as modified under a final ruling, November, 2000, created a form of securities regulation that gives exchanges the right to trade a security without meeting the minimum requirements. Once approved, it will allow authorized trading even though the security is not currently listed or registered on the exchange. Once approved, it is Managements intention to apply for listing on a major stock exchange such as NASDAQ or NYSE.
Closed Ended Funds come in many varieties. They can have different investment objectives, strategies, and investment portfolios. They also can be subject to different risks, volatility, and fees and expenses. This Closed Ended Fund will be the first such Fund trading in the US, specific to the Cannabis sector as a whole.
The Issuer due to the registration as a Closed Ended Fund is currently reorganizing its internal structure and disclosures to meet and accommodate the newly adopted direction. This is being conducted by the Issuers consultants and attorneys.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company's recent filings with the SEC.