Citadel EFT

June 20, 2013 13:50 ET

Citadel EFT, Inc. (CDFT) Announces a Clarification and Correction on the Conversion of Its Preferred 'C' & 'D' Shares Outstanding Into Restricted Common Stock

OCEANSIDE, CA--(Marketwired - Jun 20, 2013) - Citadel EFT, Inc.'s (OTCQB: CDFTD) CEO Gary DeRoos announces that all Convertible Preferred 'C' & 'D' stockholders will get their Preferred Securities converted into 100,000 to 300,000 Restricted Common Stock to the reconstituted issued capital in Citadel EFT. The process required by Island Stock Transfer is for all the aforementioned stockholders to email Kim Whiteside, with their address, the name they want on the countersigned common securities, and their Social Insurance Number / Tax ID. This is a Security Requirement by the Transfer Agent, which applies after stockholders have mailed out their checks.

Gary DeRoos, CEO, Citadel EFT, states, "It was stated in our earlier press release that stockholders of the C & D class would be required to send their certificates to the Transfer Agent. This was incorrect, as we have the master list, and I will be forwarding issuance resolutions to Kimberly Whiteside, our Transfer Agent. The only prerequisites for our preferred stockholders to receive the predetermined amount of common stock will be to: send the $104.00 check to the TA, and to send Kimberly, via email, the address where to mail back, proper name on the security, SSN, and Tax ID number."

Gary DeRoos further states, "After we have completed this process and reconstituted the issued capital, Citadel EFT will be filing an S-1 with the US SEC, to register these same common securities for our stockholders."

FORWARD-LOOKING STATEMENT CDFT cautions that statements made in this press release constitute forward-looking statements, and not guarantees of future performance, and actual results or developments may differ materially from projections in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the time the statements are made.

Contact Information