Graphene 3D Lab Reduces Outstanding Shares by 7.3 Percent

Graphene 3D Lab Inc. (TSXV:GGG,OTCMKTS:GPHBF) announced that the total number of outstanding shares of the company being reduced down to 41,164,955 from 44,387,500, representing a decrease of 7.3 percent in outstanding shares.
As quoted in the press release:

The reduction in the number of outstanding shares of the Company is due to Michael Gouzman is no longer serving on the Company Advisory Board in order to focus on research projects outside of Graphene 3D. Mr. Gouzman was a founding member of the Advisory Board, and his founding shares were held under a 3 year scheduled release escrow agreement. The escrow agreement provided that any shares held in escrow would be returned to treasury and cancelled at such time that Mr. Gouzman no longer served on the Advisory Board.

Daniel Stolyarov, president and CEO of Graphene 3D, commented:

I want to thank Professor Gouzman for his contributions and service to the company and I wish him every success in his future endeavors.

Click here to read the full Graphene 3D Lab Inc. (TSXV:GGG,OTCMKTS:GPHBF) press release.