Zoned Properties, Inc. Announces Retirement of 4,576,283 Shares, Reducing
Outstanding Shares by Almost 16%
SCOTTSDALE, Arizona, April 16, 2014
SCOTTSDALE, Arizona, April 16, 2014 /PRNewswire/ --
Zoned Properties, Inc. (OTC: ZDPY) http://www.zonedproperties.com, a lessor of
land, facilities and equipment to the medical marijuana industry has announced
it has reached a decision with two large shareholders of the company,
including the former CEO, to retire a total of 4,576,283 shares of common
shares, which represent 15.8 % of the total outstanding shares of the company.
These shares will return to the company treasury. As a result, the company
will have a total of 24,374,009 shares issued and outstanding.
Zoned Properties, Inc. interim CEO, Bryan McLaren stated, "After speaking with
our board members and advisors to the company, the shareholders agreed this
was a prudent step in helping the company accomplish its goals and benefit all
of our shareholders. The return of these shares into the company treasury
gives our organization the opportunity to fund expansion with favorable terms
and minimize dilution to our shareholders. We are inspired that our
shareholders believe in the direction of the company and applaud their efforts
to help the company position itself for future growth and success while
maintaining shareholder value."
About Zoned Properties, Inc. (OTC: ZDPY):
Zoned Properties, Inc. is a strategic real estate investment firm whose
primary focus is acquiring commercial properties that face unique zoning
challenges. Zoned Properties, Inc. will acquire commercial properties zoned
within a variety of usage types such as industrial, agricultural, activity,
performance or as well as mixed use. Zoned Properties, Inc. also targets
commercial properties that can be acquired and potentially re-zoned for
For more information please visithttp://www.zonedproperties.com
FORWARD-LOOKING STATEMENT AND DISCLOSURE: This press release contains
forward-looking statements, including expected industry patterns and other
financial and business results that involve known and unknown risks,
uncertainties and other factors that may cause our actual results, levels of
achievements to differ materially from results expressed or implied by this
press release. Such risk factors include, among others: the continuation of
recent growth rates in the industry; the positioning of Zoned Properties, Inc.
in the market; ability to integrate acquired properties and technology;
ability to retain key employees; ability to successfully combine product
offerings and customer acceptance of combined products; general market
conditions, fluctuations in currency exchange rates, changes to operating
systems and product strategy by vendors of operating systems; and whether
Zoned Properties, Inc. can successfully execute their business plan. Actual
results may differ materially from those contained in the forward-looking
statements in this press release.
Investor Contact Information:
Zoned Properties, Inc.
SOURCE Zoned Properties, Inc.
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