Clean Power Concepts Reduces its Outstanding Shares by 70%
REGINA, SK / ACCESSWIRE / September 3, 2014 / Clean Power Concepts, Inc. (OTC Pink: CPOW) today announced that it is reducing its authorized shares of common stock by 70%, from 50 billion to 15.2 billion. Following the reduction in authorized shares, Clean Power Concepts will have 15,174,128,778 common shares outstanding. Over ten billion of the outstanding common shares are restricted for one year and are owned by insiders.
CEO Michael Shenher explains, "The reduction by 70% of our authorized shares is just the beginning of our capital restructuring that will make our stock more appealing to investors and acquisition targets. We are beginning by reducing our authorized shares and explaining our share structure to demonstrate our commitment to creating real value in Clean Power Concepts. The next planned step is to retire a large portion of restricted, outstanding shares to treasury and to bring more value to all our shareholders." Mr.Shenher continued, "We are all very excited about the future of Clean Power Concepts. This is only the first announcement of positive change and more will follow."
About Clean Power Concepts, Inc.
Headquartered in Saskatchewan, Canada, Clean Power Concepts, Inc. was founded in 2006 with the goal of producing renewable, high quality, and easy to manufacture canola oil for the industrial and consumer markets around the world. Clean Power Concepts has always been active in finding beneficial new, environmentally responsible, and sustainable energy resources with promising sustainable growth. More recently, the Company has begun development of a slate of health and beauty products featuring Hemp oil for both commercial and personal usage through its Spirit of Health division, a wholesale and consumer-facing brand founded in 2010. Spirit of Health is further developing its suite of extremely beneficial essential oils and natural health and beauty supplements for near term consumer market placement. Clean Power Concepts produces the finest and most eco-friendly lubricants and diesel fuel conditioner. For more information, please go to http://www.cleanpowerconcepts.com.
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