SCOTTSDALE, Arizona, April 16, 2014 /PRNewswire/ -- Zoned Properties, Inc. (OTC: ZDPY) http://www.zonedproperties.com, a lessor of land, facilities and equipment to the medical marijuana industry has announced it has reached a decision with two large shareholders of the company, including the former CEO, to retire a total of 4,576,283 shares of common shares, which represent 15.8 % of the total outstanding shares of the company. These shares will return to the company treasury. As a result, the company will have a total of 24,374,009 shares issued and outstanding.
Zoned Properties, Inc. interim CEO, Bryan McLaren stated, "After speaking with our board members and advisors to the company, the shareholders agreed this was a prudent step in helping the company accomplish its goals and benefit all of our shareholders. The return of these shares into the company treasury gives our organization the opportunity to fund expansion with favorable terms and minimize dilution to our shareholders. We are inspired that our shareholders believe in the direction of the company and applaud their efforts to help the company position itself for future growth and success while maintaining shareholder value."
About Zoned Properties, Inc. (OTC: ZDPY):
Zoned Properties, Inc. is a strategic real estate investment firm whose primary focus is acquiring commercial properties that face unique zoning challenges. Zoned Properties, Inc. will acquire commercial properties zoned within a variety of usage types such as industrial, agricultural, activity, performance or as well as mixed use. Zoned Properties, Inc. also targets commercial properties that can be acquired and potentially re-zoned for specific purposes.
For more information please visit http://www.zonedproperties.com
FORWARD-LOOKING STATEMENT AND DISCLOSURE: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the continuation of recent growth rates in the industry; the positioning of Zoned Properties, Inc. in the market; ability to integrate acquired properties and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Zoned Properties, Inc. can successfully execute their business plan. Actual results may differ materially from those contained in the forward-looking statements in this press release.
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Zoned Properties, Inc.
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SOURCE Zoned Properties, Inc.