CENTENNIAL, CO / ACCESSWIRE / October 23, 2014 / BizAuctions, (OTC Pink BZCN) (BZCN) - The Company filed a Notice of Corporate Action with FINRA to report an amendment to its articles of incorporation as required under FINRA guidelines.
Delmar Janovec, BizAuctions' CEO, comments, "It has already been announced the Company submitted an Amendment to the Articles of Incorporation with the State of Delaware for a name change to CannaGrow Holdings, Inc., with an effective date of November 1, 2014. The Company filed a Notice of Corporate Action with FINRA on October 17, 2014 to provide FINRA with the notice for the amendment to the articles."
"The corporate name change required the Company to file for a new CUSIP No., and as part of the Notice of Corporate Action filed with FINRA, CannaGrow Holdings, Inc., has also requested a new ticker symbol to be issued to better reflect the new business direction the Company has taken."
Mr. Janovec further comments, "We have been working diligently over the last several months with consultants and counsel to move forward with the new Colorado Cannabis Project. There is a step by step process that must be adhered to for successful entry into the Medical / Recreational Cannabis Industry in the State of Colorado. The Company has assembled a solid team of experts and professionals to facilitate this entry, and I am happy to report there is a great deal of progress being made. The investment community can expect some very exciting announcements in the days and weeks to come."
The Company is in the process of redefining its business model and is moving into the medical and recreational Cannabis industry in the State of Colorado. Our goal is to maximize our efforts to deliver the highest return to our shareholders.
The Company is currently working with a website designer to update its website to reflect the new business model that will be forthcoming in the very near future.
The Company encourages the public to read the above information in conjunction with its year-end statement for December 31, 2013, and the quarterly statements filed in calendar year 2014, at www.PinkSheets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.
SOURCE: BizAuctions, Inc.