Citadel EFT

June 18, 2013 12:30 ET

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

OCEANSIDE, CA--(Marketwired - Jun 18, 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.

Gary DeRoos, CEO, Citadel EFT, states, "Now that the reverse split is complete, our next objective is to increase our issued capital, by allowing our Convertible Preferred C & D stockholders to convert a share, or shares into a predetermined amount of common stock. We expect to send the list of compiled stockholders from both classes of preferred stock, up to the Transfer Agent, before the end of the month, where new common securities will be issued and mailed out to each stockholder."

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."

Management has provided the conversion of the preferred shares in to common below:

1 preferred = 100,000 common; $19,500 and below
2 preferred shares = 200,000 common; $29,999 to $20,000
3 preferred shares = 300,000 common; $39,999 to $30,000

In order to effectuate the conversion, shareholders need to send their 'C' and/ or 'D' Preferred certificates, with a check made out to Island stock transfer for $104 to:

Kim Hood
Island Stock Transfer
15500 Roosevelt Blvd, Ste. 301
Clearwater, FL 33760

Upon receipt, Island Stock Transfer will issue restricted common share certificates, reissue the 'C' and/or 'D' Preferred shares and overnight these certificates. Any certificate sent without payment will be returned.

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.


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