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GBX International Group Inc (OTC:GBXI) is an emerging leader in the international economic development space and earlier this week it made a key announcement. The company announced on May 8 that it was advancing quickly on its new GBXI Public Company conglomerate growth model through the completion of the acquisition of three initial targets.
The company noted that it was working on the approval for three new trading symbols from the OTC Markets since it is looking to spinout three companies that it acquired recently. The three companies in question are Cannabis Science, Thermic Science, and XRAYMEDIA Group.
The completion of the acquisitions of those three new spun-out companies would provide all shareholders of the company to be awarded three new classes of Common Shares in GBX International Group. Those would be classed as Common Shares A, B, and C respectively. Once the approvals are provided by the OTC Markets and the United States Securities and Exchange Commission those three classes of shares would also get new trading symbols.
In this regard, it is also important to point out that the shareholders in GBX International Group will receive additional prorated shares in the spinout companies in addition to the shares that they already held in each. Such a move would ensure that there is no dilution in the GBX International Group common shares.
The new acquisitions are ultimately meant to help in boosting the asset base of the company and dilution of the company’s common shares is something that GBX International Group wants to avoid. The acquisition had been made with the aim of compounding the growth for all the shareholders in the company. GBX International Group is also working on major steps for the purpose listing of these shares on the NASDAQ, one of the world’s biggest exchanges.