Buscar Company Provides Acquisition Update
DENVER, July 1, 2020 /PRNewswire/ -- Buscar Company, Inc. (OTC: CGLD) announced details today related to the recent acquisition of Eon Discovery.
New Buscar Company, President Thomas W. Heathman stated, "In the next few weeks, we will be taking a few steps to shore up some of the administrative aspects of the company and I would like to share those with you at this time. Everything covered here today is being done in the best interest of existing and future shareholders of Buscar Company, Inc."
1. Our objective is to reach mining status as soon as possible. The filing of our "Plan of Operations" takes precedence over everything else at this point. It is being finalized and is expected to be filed shortly. Please note that this filing is not being done as a new Plan of Operations, but instead is a continuance of a Plan of Operations that was approved in years past.
2. We fully expect to reach "Current" status at OTCMarkets.com in the coming weeks and that is our second priority in the short term.
3. Our intermediate term objective is to move to OTCQX status at the appropriate time, so let me put that objective together for you here in a logical thought process that is relatable. Buscar is a non-reporting company. There is no advantage to us to change that status. In fact, you can hold QX status as a non-reporting entity. As a non-reporting company, all new shares issued to new officers and directors, including me will have a two year hold. Beyond that two years, we plan to incentivize all shareholders in a unique way that encourages long term ownership. There are approximately 3.2M shares in the float. On the day that we issue the new restricted shares to lock in majority ownership as part of the reverse merger, the float will still be 3.2M shares.
4. All former officers and directors of CGLD have resigned their positions in conjunction with the EON team being added in their place.
Mr. Heathman finished up with, "We want to thank you for your support as we work through all of the above and we look forward to covering more details with you soon. In the interim, we have created a Forum/Discussion board on our website. From time to time there may be topics of discussion that do not warrant a press release, but we'd like to share with you in a timely manner. Feel free to join the Forum to remain fully up to date."
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.
SOURCE Buscar Company, Inc.