United Consortium, Ltd. (OTC Pink: UCSO) is engaged within the acquisition and development of companies and technologies within the blockchain, digital media, and cannabis markets. Shares of the diversified holding company are climbing 42.50%, through early trading on Tuesday, February 20, 2018. Over the past month, United Consortium, Ltd. has seen average daily volume of 87,068 shares. However, volume of 165,454 shares or dollar volume of $9,430, has already exchanged hands on the day.
Shares of United Consortium, Ltd. are gaining today, after the company announced that it will cancel 20 million shares of common stock. Management also noted in the press that “there will be no reverse splits of its common stock in 2018.” The company continues to focus on shareholder value and increasing the company’s holdings. Here is the full press release detailing of the share cancellation:
United Consortium, Ltd. Press Release:
TAMPA, Fla., Feb. 20, 2018 (GLOBE NEWSWIRE) — United Consortium Ltd. (OTC PINK:UCSO), an acquisition and development Company focused on creating shareholder value by identifying and monetizing opportunities in Blockchain, Digital Media and the Emerging Cannabis Space, today announced that its CEO will cancel 20 Million shares of common stock. Further, UCL today confirmed that there will be no reverse splits of its common stock in 2018.
UCL Chairman and Chief Executive Officer Scott Gallagher stated, “We’re expecting big things in 2018. Keeping our capital structure in line to facilitate growth and increased shareholder value will be an important part of our success as a public Company going forward. By converting 20 Million common shares of mine to preferred stock we’ve immediately increased the ownership value of each common shareholder.” Gallagher continued, “There will be no reverse stock splits in 2018 either. I think it’s important our shareholders know their investment in our Company will not be wiped via a reverse stock split. I look forward to discussing the exciting opportunities regarding our wholly owned subsidiary Blockchain, Inc. on our investor call next week.”
About United Consortium Ltd. (UCL)
UCL is an acquisition and development Company focused on creating shareholder value by identifying and monetizing opportunities in Blockchain, Digital Media and the Emerging Cannabis Space. The Company is headquartered in Tampa, Florida. UCL is a current pink sheet Company. The most current information about the Company can be found on OTCMarkets.com or by visiting the Company’s website at www.UCLVentures.com.
This release contains forward-looking statements that relate to future events or United Consortium Ltd. (UCL’s) future performance or financial condition. Any statements that are not statements of historical fact, such as the statements above and including statements containing the words “plans,” “anticipates,” “expects” and similar expressions, should also be considered to be forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as result of a number of factors, including those described from time to time in United Consortium Ltd.’s filings with the Securities and Exchange Commission, OTC Markets or statement on the Companies websites. United Consortium Ltd. And all of its subsidiary companies undertakes no duty to update any forward-looking statements made herein.