MIAMI, FL--(Marketwired - Apr 3, 2017) - Omni Health, Inc., (OTC PINK: OMHE) a cannabis and biotech pharmaceutical company, specializing in health and wellness products utilizing cannabis and biotech engineering, filed a Form 8K today to inform its shareholders of the restructuring of OMHE. Andrey Soloviev, the company's Chief Executive Officer and Chairman of the Board has converted 556,890,449 shares of common stock into 5,600,000 Series A Preferred Stock. In addition, 50,000,000 shares of common stock are to be converted into 5,000,000 shares of Series B Preferred Stock by several large shareholders. The actions reduce the outstanding common stock of OMHE by 62% to 368,938,292 shares of common stock.
Mr. Soloviev stated, "Recognizing the continued evolution of our anti-aging cream business, and our strategy to grow and enter into the cannabis and biotech platforms, we conducted a thorough review of our corporate structure to optimize our support of both existing and future operations." He went on to say, "This conversion of common stock to preferred stock benefits our shareholders. This allows our shareholders the ability to look into the future without concern of dilution from these shares being available to be sold into the market."
About Omni Health, Inc.
Headquartered in Miami, Florida, Omni Health Inc., operates a pharmacy operation in Miami, Florida, Malecon Pharmacy. Malecon Pharmacy, a 40 year specialty pharmacy provider located in Miami, Florida currently transitioning into global health and wellness company providing healthcare products, pharmacy operations, prescription drugs, and other services and products in the skin care and anti-aging industry.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.