Bemax Inc. Reduces Issued and Outstanding Shares, Retires 40 Million Common Shares of Company Stock

ATLANTA, Jan. 16, 2018 /PRNewswire/ -- Bemax Inc. (OTCBB: BMXC), a growing global distributor of private label disposable diapers, is pleased to announce today its CEO, Taiwo Aimasiko, has voluntarily retired 40,000,000 Common Shares of the Company's Stock for 40,000,000 Series "C" preferred shares, effectively reducing the total issued and outstanding common shares by 9.3%.

Every one share of common stock retired is exchanged for one share of the Series "C" preferred stock.

"This is one of the steps during this current year to add value to shareholders and health of the company. Management will continue to maintain capital structure that would support growth and continue to commit to long term corporate strategy to enhance sales and shareholders' confidence," stated Bemax CEO, Taiwo Aimasiko.

As part of the outcome of Bemax's extensive marketing activities during the past twelve months, the company is set to complete new purchase orders this month. "When completed, these new purchase orders would demonstrate continued focus to meet our sales targets for 2018," said Taiwo Aimasiko, CEO of Bemax Inc.  

A section of this press release relating to the retirement of shares of common stock is in reference to the 8K document filed with the SEC on January 12, 2018.

About Bemax Inc.

Bemax Inc. exports and distributes Disposable Baby Diapers from the U.S. to emerging markets in Africa and Europe. We also export our private label brands from manufacturers in Asia and distribute to other growing markets. Bemax focuses on an extensive and far-reaching global network among wholesalers, large discounting retailers and supermarkets as well as entry into the ecommerce arena to reach households directly through subscription orders. We focus to supply our clients with disposable baby diapers from manufacturers in North America where quality is superior. Please visit the company website at www.bemaxinc.com.

Safe Harbor Statement

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

SOURCE Bemax Inc.

Related Links

http://www.bemaxinc.com