Wanderport Announces Capital Raising and Stock Retirement Plan as Part of New Growth Initiative August 20, 2015 05:30
SANTA MONICA, Calif., August 20th, 2015 /PR Newswire/ -- Wanderport Corporation (OTC Markets: WDRP), a premier distributor of food, beverages and consumer products made with hemp, announced today its capital raising and stock retirement plan as part of the new growth initiative.
The Company plans to add new items to its product line on a regular basis and initiate production of its own brand sometime in the fourth quarter. To support this initiative, the Company has initiated talks with various financiers to secure an initial financing facility of two million dollars. The proceeds will be used for sales and marketing as well as to cover production costs.
In an effort to improve its capital structure, the Company is also in negotiation with a few major shareholders to secure and retire up to one hundred million shares of its common stock, which it expects to complete this quarter. This is a follow up to fifty million shares of common stock that the Company retired in the first quarter.
In addition to the above, the Company is also considering implementing a dividend paying plan in the near future.
“We, as a whole company, are committed to growing our business while advocating hemp based products,” said Eric Brown, CEO of Wanderport Corporation. “With a keen interest in strengthening our fundamentals and positioning the company as a major player in this burgeoning industry, we will take all necessary steps to organize and capitalize ourselves in order to succeed and to create significant value for our shareholders,” added Brown.
About Wanderport Corporation
Wanderport Corporation is premier distributor of food, beverages and consumer products made with hemp. For more information, visit us at http://www.wanderportcorp.com.
Online Store: www.wanderportstore.com
Statements made herein constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts. Forward-looking statements are projections of events, revenues, income, future economics, research, development, reformulation, product performance or management's plans and objectives for future operations. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect current judgment regarding the direction of the business operations of Wanderport Corporation, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this press release.
Eric Brown, CEO