Zoned Properties Redeems 32.3% of Outstanding Shares into Company Treasury

3Jan - by Editor - 0 - In STL.News

 

SCOTTSDALE, Ariz./ Jan. 3, 2019 (STL.News)

Zoned Properties, Inc. (OTCQX: ZDPY) (“Zoned Properties”), a strategic real estate development firm whose primary mission is to identify, develop and lease sophisticated, safe and sustainable properties in emerging industries, including the licensed medical marijuana industry, today announced the completion of a 32.3% common stock redemption as consideration for amending agreements with its primary tenant and client in Arizona, Hana Meds.

Under the agreements, Zoned Properties will receive approximately 5.64 million shares of its common stock, or 32.3% of the shares outstanding, back into the treasury in exchange for providing Hana Meds with payment optionality for its advisory services.

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