MAUI, HI--(NewMediaWire - Feb 26, 2016) - Eco Science
Solutions, Inc. (OTCBB: ESSI), a vertically focused e-commerce company
in the cannabis industry, today announced that it has formally
completed and canceled 1,000,000 shares of common stock, thus
enhancing shareholders present-day equity value in the
Company.
The new common stock share structure to report as of 2/26/2016
is as follows:
Common Stock Outstanding 27,226,349
Restricted Common Stock 22,198,333
Free Trading Common Stock 4,028,016
Common Stock in Float 3,628,016
"Our Executive Leadership strongly believes that maintaining a
disciplined approach to purchasing and canceling outstanding shares
at prices internally believed to be undervalued serves our
shareholders best," said Don Taylor, Eco Science Solutions'
Treasurer and Chief Financial Officer. "Eco Science Solutions'
long-term growth prospects continue to improve and we believe
today's current stock price presents a timely opportunity for the
Company to increase current shareholder value by repurchasing and
retiring existing outstanding common stock," continued Mr.
Taylor.
Under the stock repurchase program, and depending on market
conditions, shares may be repurchased from time to time at
prevailing market prices through open-market or negotiated
transactions in accordance with all applicable securities laws and
regulations.
Stock repurchases are to be conducted in compliance with the
Rule 10b-18 safe harbor guidelines of the Securities Exchange Act
of 1934, as amended; and may be made at such times and in such
amounts as the Company's management deems appropriate. Purchases
under the program may be discontinued at any time management feels
additional purchases are not warranted.
To remain in compliance with item 703 of Regulation S-K the
Company, whether through an open market or private transaction,
will at a minimum disclose on a quarterly basis all repurchases of
equity securities.
This release is for informational purposes only and is not an
offer to buy or the solicitation of an offer to sell any shares of
the Company's common stock.
About Eco Science Solutions, Inc.
Founded in 2015 with headquarters in Hawaii, Eco Science
Solutions, Inc. operates Herbo and develops solutions that empower
cannabis enthusiasts in their pursuit and enjoyment of their
cannabis lifestyle.
Eco Science's core services span dispensaries and smoke shop
location services, e-commerce, localized communications between
consumers and businesses, new product introductions, social
networking opportunities and content centered on cannabis trends,
and logistical delivery services.
The Company's e-commerce platform enables cannabis enthusiasts
to easily locate, access, and connect with cannabis-businesses and
like-minded enthusiasts, and to facilitate the purchasing of
cannabis-related products...anytime, anywhere.
For more information, please visit www.ecossi.com and/or www.useherbo.com.
Forward-Looking Statements
Legal Notice Regarding Forward-Looking Statements in this news
release that are not historical facts are forward-looking
statements that are subject to risks and uncertainties.
Forward-looking statements are based on current facts and analyses
and other information that are based on forecasts of future
results, estimates of amounts not yet determined, and assumptions
of management. Forward looking statements are generally, but not
always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. Information concerning oil or
natural gas reserve estimates may also be deemed to be forward
looking statements, as it constitutes a prediction of what might be
found to be present when and if a project is actually
developed.
Actual results may differ materially from those currently
anticipated due to a number of factors beyond the reasonable
control of the Company. It is important to note that actual
outcomes and the Company's actual results could differ materially
from those in such forward-looking statements. Factors that could
cause actual results to differ materially include misinterpretation
of data, inaccurate estimates of oil and natural gas reserves, the
uncertainty of the requirements demanded by environmental agencies,
the Company's ability to raise financing for operations, breach by
parties with whom we have contracted, inability to maintain
qualified employees or consultants because of compensation or other
issues, competition for equipment, inability to obtain drilling
permits, potential delays or obstacles in drilling operations and
interpreting data, the likelihood that no commercial quantities of
oil or gas are found or recoverable, and our ability to participate
in the exploration of, and successful completion of development
programs on all aforementioned prospects and leases. Additional
information on risks for the Company can be found in the Company's
periodic filings filed from time to time with US Securities and
Exchange Commission at www.sec.gov.
This press release does not constitute or form a part of any
offer or solicitation to purchase or subscribe for securities in
the United States. The securities mentioned herein have not been,
and will not be, registered under the United States Securities Act
of 1933, as amended (the "Securities Act"). They may not be offered
or sold in the United States (as defined in Regulation S under the
Securities Act), except pursuant to an exemption from the
registration requirements of the Securities Act.