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SHERIDAN, WY / ACCESSWIRE / June 17, 2024 / Buyer Group International, Inc. (OTC Pink:BYRG), a junior miner company focused on its flagship The Shambhala Project, which has approximately 2.65 square miles of mineral rights in the New Rambler Mining District in Albany County, Wyoming, is pleased to announce that it has completed the cancellation of one billion, fifty million (1,050,000,000) shares of common stock retired back to the Treasury. This reduces the overall outstanding share structure by 12%. 100 million of those shares were free trading, reducing the float by over 542 Million shares since last year.
This reduction in the outstanding share structure is the latest in a series of share reductions aimed at increasing value for all of our shareholders.
The number of successful cancellations to the OS in the previous 12 months is
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75 million shares on May 24, 2024 Free Trading
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117 million shares on January 26, 2024 Free Trading.
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250 million shares on January 19, 2024 Free Trading.
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1.0 billion shares on December 22, 2023 Restricted.
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1.4 billion shares on April 21, 2023 Restricted.
Buyer Group International Inc. CEO Dave Bryant commented, "As part of our ongoing commitment to increasing shareholder value, I am pleased to announce that, through legal process, we have successfully reduced the number of outstanding shares while reducing the float, as well as our exposure to unscrupulous outside influence." This was a huge win for both the BYRG team and our loyal investors. We are gradually removing previous mistakes and replacing them with critical components worthy of the shares and success they offer. This decision represents our confidence in the company's future potential as well as our commitment to providing long-term value to our shareholders. By removing these shares from the market, we hope to improve the attractiveness of BYRG as a long term play, improve our stock price and make our company an even more appealing investment for private investors supporting Project Shambhala. We appreciate your ongoing trust and support as we take these important steps forward.
Stay tuned for further information as we await a major permitting decision and the findings of the USGS magnetic and radiometric survey completed during the Medicine Bow Mountains flyover in summer 2023. Furthermore, we will continue making consistent progress in reducing the total number of outstanding Buyer Group shares, which will increase value for all of our shareholders."
About Buyer Group International, Inc.
Buyer Group International, Inc. is targeting exploration at its flagship mining project Shambhala in Albany County, Wyoming. The Shambhala Project consists of 84 lode claims, 2.65 square miles in the historic New Rambler District. The district is located near the south edge of the Cheyenne Belt, a noted Greenstone Belt of the Medicine Bow mountains, which contains various concentrations of rare minerals.