Nate’s Food Co. (OTC: NHMD) today announced that its officers and directors have unanimously agreed to cancel 1 billion common shares, representing a 27% reduction in issued and outstanding shares. According to the update, of the total 1 billion shares approved for cancellation, 500 million common shares have already been successfully cancelled. The process is currently underway to cancel the remaining 500 million shares through the company’s transfer agent. The move to cancel the common shares is part of Nate’s Food Co.’s strategy to optimize its capitalization, streamline operations and position for possible joint ventures or acquisitions.
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About Nate’s Food Co.
The company operates two divisions: (1) Food development and distribution and (2) bitcoin mining. The company’s focus is the development of food products for distribution in wholesale membership stores and into retail grocery stores. The company also operates a bitcoin mining division as a hedge against inflation. For more information, visit the company’s website at www.NatesFoodCo.com.
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