SOURCE: ON4 Communications, Inc.

June 23, 2016 09:15 ET

On4 Communications Provides Shareholder Update; Initiates Reduction of Authorized Shares

NEW YORK, NY--(Marketwired - Jun 23, 2016) - On4 Communications, Inc. (OTC: ONCI) is pleased to announce that the company will be filing the necessary paperwork with the State of Delaware to reduce ONCI's authorized shares to 3.75 billion shares, which is a reduction from the current 5 billion shares currently authorized. The company had previously stated in a letter to shareholders that it would be reviewing the authorized shares in order to determine a balance between immediate shareholder interests while allowing room for strategic acquisitions. Just over 1.5 billion shares are restricted of the issued and outstanding.

In the past 30 days, Mr. Steve Berman, CEO of On4 Communications, had business related travel outside of the country to both Russia and Japan. Now with his feet firmly back in the United States, Mr. Berman is placing the company's focus on carrying through on the steps necessary to continue building the company. 

The company is also pleased to announce the appointment of Jeffrey Mahl as Senior VP of Business Development for On4 Communications, Inc. Mr. Mahl has a very strong history in business development and sales. Mr. Mahl's professional resume may be viewed on Linkedin HERE.

The company is quick to acknowledge appreciation for the shareholder base that has been so gracious as to support the company. The company is working on pending contracts which it hopes to provide further details on in the near future. We look forward to providing additional updates as they unfold.

About On4

On4 is a holdings company with an aggressive focus of acquiring proven and profitable businesses, especially those businesses operating in the $1.7 trillion U.S. healthcare industry.

Forward-Looking Statements

Forward-Looking Statement Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.

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