ANAHEIM, CA / ACCESSWIRE / May 1, 2024 / Mesa Home Resources Inc. (OTC PINK:MHRE) ("Mesa") is pleased to announce the successful completion of the spinoff of its wholly owned subsidiaries, Fortune Nickel and Gold Inc. and ICF Industries Inc. (collectively referred to as "Fortune"), to its shareholders.
The spinoff, approved by the board of directors of Mesa (formerly known as Here To Serve Holding Corp.) on October 21, 2023, was executed on April 12, 2024, through a pro rata distribution of 116,960,795 shares of Fortune common stock to the shareholders of record of Mesa as of November 2, 2023 (the "Record Date"). Each MHRE stockholder received one share of Fortune common stock for each share of MHRE common stock held on the close of business on the Record Date.
Dwight Esnard, CEO of Mesa remarked, "We are delighted to announce the successful spinoff of Fortune Nickel and Gold Inc. This strategic move allows us to focus exclusively on the thriving business acquired through the acquisition of Mesa Garage Doors in November 2023. Mesa has built a strong reputation and customer base in the home furnishings arena, and we are committed to maximizing our opportunities in this sector."
Paul Riss, CEO of Fortune, praised Mesa's operations and vision, stating, "Mesa has demonstrated exceptional leadership in the home furnishings industry. We are grateful for the support and expertise Mesa has provided and for the execution of the spinoff. This spinoff will enable Fortune to concentrate on exploring the exciting mineral rights within our portfolio, aligning with our strategic vision to minimize carbon footprints and advance the utilization of renewable energy. Our loyal shareholders now have stock in two different companies. Fortune intends to file a registration statement with the Securities and Exchange Commission ("SEC") soon and commence trading on an exchange in the US."
The spinoff creates separately owned entities, allowing each company to focus on maximizing its distinct opportunities. Mesa will continue to trade on the OTC Pink Market under the symbol "MHRE." However, the Company intends to file an application to uplist to the OTC QB reporting tier and also file a Form 10 information statement with the SEC. Additionally, the company satisfies the criteria to be Penny Stock Exempt and is petitioning to OTC Markets to reflect this on its profile. Lastly, the Company is currently undergoing a recapitalization that will include the two controlling shareholders retiring a significant portion of their common shares to preferred shares. This will help reduce the number of outstanding common shares. These actions should help to attract a more institutional grade shareholder base and position the company for an uplisting to a major exchange such as NASDAQ or NYSE later in the year.
Mesa looks forward to the continued support of its shareholders and remains dedicated to building long-term value.
About Mesa Home Resources, Inc.
Mesa Home Resources, Inc. was founded over 30 years ago, and is a Southern California leader in the otherwise highly fragmented business of sales, installation, and service of garage doors. Over these 30 years, Mesa has serviced well over half of a million customers, utilizing its own staff of installers, technicians, and repair employees. With a strong reputation and extensive customer base, Mesa has leveraged its financial strength, scalability, operations and service call center, and professional management to become one of the largest garage door specialty companies in the United States. (www.mesagaragedoors.com)
Safe Harbor Statement
This release contains "forward-looking statements." Forward-looking statements also may be included in other publicly available documents issued by Mesa and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," and other words of similar meaning in connection with a discussion of future operating or financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause Mesa's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but are not limited to economic conditions, changes in the laws or regulations, demand for Mesa's products and services, the effects of competition, and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this press release.
Company Contact:
For more information about Mesa Home Resources, Inc. please contact:
info@mesagaragedoors.com
(714) 560-7270
www.mesagaragedoors.com
SOURCE: Mesa Home Resources, Inc.
View the original press release on accesswire.com
