Mentor Capital Pays $300,000 Early to Long-Time Shareholders
3,000,000 Series B Warrants Redeemed Now Prior to May 2018 Due Date
SAN DIEGO--(BUSINESS WIRE)-- Mentor Capital, Inc. (OTCQB:MNTR) announces that early shareholders who together also hold approximately 3,000,000 Series B Warrants are having the 10 cent per warrant redemption payment for those warrants voluntarily paid out now by the Company approximately one-year in advance of the May 1, 2018 date previously scheduled with the Depository Trust & Clearing Corporation (DTCC).
Checks for the early redemption payout have been sent to all shareholders who previously sent in their physical Series B Warrants certificates to the Mentor for later redemption. Shareholders who now or in the future come upon a physical Series B Warrant certificate may send it in then to the Company for redemption payment.
The many shareholders who have deposited their Series B Warrants with a broker will have their redemption payment processed electronically through the DTCC participant system. Series B warrants, if in a brokerage account, will be identified by CUSIP #587183183120. In the normal course, they will soon disappear and simultaneously be replaced by cash paid in a lump sum to DTCC by Mentor Capital at a rate of 10 cents per warrant. Mentor has requested that the payment be processed Tuesday, April 18, 2017, subject to DTCC final processing and approval. Mentor adds a final caution that shareholders should immediately examine their brokerage statements to ensure that over the intervening years their warrants have not been erroneously removed from their accounts.
“The 10 cent Series B Warrant redemption payment represents approximately a 1000% gain from the original value turned over to Mentor on behalf of the those investors in January 2000. Paying that out a year in advance of the scheduled payment date is consistent with your management’s guiding financial goal of maximizing shareholder return. We are most pleased the Company’s strong debt-free financial position allows us to put cash directly back into the hands of our shareholders,” comments Mentor Capital, Inc. CEO, Chet Billingsley.
About Mentor Capital: The Company seeks to come alongside and assist private medical marijuana and cannabis companies and their founders in meeting their liquidity and financial objectives, to add protection for investors and to help incubate private cannabis companies. Additional important information for investors is presented at: www.MentorCapital.com .
This press release is neither an offer to sell, nor a solicitation of offers to purchase, securities.
Forward Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales, problems securing the necessary financing to continue operations, problems involving continued illegality of cannabis products, potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting knowledgeable personnel, in collecting judgments and in protecting intellectual property. Further information concerning these and other risks is included in the Company’s Form 10-K and 10-Q filings which, along with other very important information about the Company, can be found here:
The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events or circumstances occurring after the date of this press release.
Mentor Capital, Inc.
Chet Billingsley, 760-788-4700
Source: Mentor Capital, Inc.
Released April 17, 2017