NSAV Announces Change to Record Date for Shareholder Dividend From Hemp Beer Spin Off
CRESCO, PA–(Marketwired – Aug 27, 2017) – NSAV Holding, Inc. (OTC PINK: NSAV), announced today that the record date for its recently declared stock dividend of 20% of its subsidiary, Hemp Beer Inc. has been changed to September 8, 2017 from the previously announced date of August 30, 2017. The change assures the dividend record date is consistent with FINRA notice requirements. The dividend payment date has been changed to September 22, 2017 from the previously announced date of September 13, 2017 accordingly. The ex-dividend date, which was to be tomorrow, August 28, 2017 will now be September 7, 2017. NSAV plans to file the required notification form with FINRA on Tuesday, August 29, 2017, which is in compliance with the 10 day notification period.
The Company’s transfer agent stated the delay was the result of NSAV’s change of domiciles from Nevada to Colorado and then on to Delaware, all within a three month period. The change of domiciles were part of the Company’s previously announced holding company reorganization, which resulted in NSAV Holding, Inc. being completely debt free. The Company believes it is legally a Delaware corporation and has complied with all relevant state statutes.
Following the spin-off, Hemp Beer Inc. will become a separate publicly traded company. NSAV will spin-off 20% of Hemp Beer Inc. to its shareholders, who will be awarded with a share dividend based upon their holdings of NSAV on the record date. Shareholders will receive approximately one share of Hemp Beer Inc. common stock for every 17 shares of NSAV common stock that they hold on the record date.
James Tilton, president of NSAV stated, “My sincere apologies to all NSAV shareholders for the change of the dividend record date. Spin-off’s of this kind are extremely complex, even more so than a normal dividend. There is a silver lining though. Shareholders and investors who are on their summer vacation, will have two trading days, September 5 and 6, 2017, to acquire the Hemp Beer, Inc. dividend shares after the Labor Day holiday.
Mr. Tilton, went on to state, ” Hemp Beer Inc. will be a separate public company with its own ticker symbol and all NSAV shareholders will truly reap the benefits.”
NSAV’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the legal medical cannabis and hemp industries, as well as other areas of the medical industry. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services, patents and trademarks and information technology.
For further information please contact NSAV at 1 (480) 326-8577 or [email protected]
The NSAV corporate email address is [email protected]
The NSAV corporate website can be accessed at http://nsavholdinginc.com
The NSAV Twitter account can be accessed at https://twitter.com/NSAV_MJTechCo
The NSAV Facebook account can be accessed at https://www.facebook.com/NSAVHolding
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of NSAV Holding, Inc. to accomplish its stated plan of business. NSAV Holding, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by NSAV Holding, Inc. or any other person.
TEN Associates LLC
1 (480) 326-8577