LOS ANGELES, March 20, 2019 /PRNewswire/ -- BANGI, Inc. (COBI), a diversified investment vehicle that acquires and leases specialized real estate assets, such as cannabis farms, today announced that it expects its reporting status to be upgraded to "Current Information" on the OTC Pink Market, the highest level of the OTC Pink Market. The Company expects to apply for a new ticker symbol with FINRA and corporate name change immediately following this expected upgrade.
As a result, the "Stop Sign" and "No Information" caveats from the Company's trading symbol will be removed and replaced with the "Current Information" designation and symbol. BANGI has worked to achieve this upgrade by posting a detailed disclosure document (Initial Information and Disclosure Statement), together with financial statements for the past three years and an Attorney Letter with respect to Adequate Current Information, on the OTC Disclosure and News Service in compliance with the OTC Markets Group's rigorous "Guidelines for Publishing Adequate Current Information."
"We are looking forward to our upgraded reporting status and the greater transparency the investment community deserves," said Rick Shykora, Interim Chief Executive Officer of BANGI, Inc. "We are confident our new status will enhance investor confidence in BANGI and enable us to more readily access institutional and individual sources of growth capital while expanding our shareholder base. However, this will be only the first step of many towards the path of becoming a fully-reporting company with the SEC," concluded Mr. Shykora.
About BANGI, Inc. [OTC: COBI]
BANGI (pronounced bon-ghee), which means "marijuana" or "hemp" in the African dialect Swahili is a diversified investment vehicle that acquires, renovates and manages specialized real estate assets, such as cannabis farms, which are then leased to licensed operators for the cultivation, extraction and/or distribution of cannabis and related crops . Additional information can be found by visiting www.bangistock.com.
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.