DUBAI, UAE, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Blackwell 3D Construction Corp. (OTC: BDCC) ("Blackwell 3D” or the "Company"), an innovative 3D house printing technology company, is pleased to announce a significant restructuring of its common stock, reflecting the Company’s confidence in its long-term potential. The Company’s Board of Directors has authorized the cancellation of 25,000,000 shares of Company common stock held by Mohammedsaif Zaveri, our Chief Executive Officer. In exchange for this cancellation, Mr. Zaveri shall receive 500,000 shares of our Series A Preferred Stock.
This strategic move is aimed at reinforcing the Company’s capital structure, demonstrating management’s strong belief in the future growth of Blackwell 3D. The cancellation of common shares indicates a clear commitment by our CEO to align with long-term shareholder value while optimizing the Company’s balance sheet.
Mr. Zaveri believes that “this decision underscores my confidence in the Company’s ability to continue driving innovation and creating value for our investors. By cancelling these shares of common stock, I am fully committing to the long-term success of Blackwell 3D, while also supporting the Company’s efforts to attract new investors and execute on our strategic initiatives. I believe that decision will play a major factor in Blackwell 3D’s path to profitability while also setting the stage for future growth.
“We need to build a solid foundation for sustained growth, and that starts with putting ourselves in position to succeed. I expect these changes to bolster the financial stability of the Company, positioning us to better capitalize on the expanding 3D technology market and increase investor confidence,” concluded Mr. Zaveri.
The cancellation of 25 million shares of common stock shall reduce the overall outstanding common share pool, thereby reducing shareholder dilution. This cancellation is expected to be completed within 10 days, at which point our total issued and outstanding shares will be reduced from 60,997,373 to 35,997,373.
For further information about Blackwell 3D, please visit www.blackwell3d.com for the most up to date news.
About Blackwell 3D Construction Corp.
Blackwell 3D Construction Corp. is focused on developing state-of-the-art 3D technologies for use in the construction industry. Our goal is to be able to use our technology to design 3D printed residential structures that meet our clients' specific requirements and preferences. In addition, it is our objective to use a large-scale printer and a specialized concrete mixture to print the structural components of these residential structures. Our printing process is expected to be highly automated, allowing us to create intricate designs and details with precision.
Important Notice Regarding Forward-Looking Statements
This Press Release contains certain “forward-looking statements” within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended. Statements that are not historical facts, including statements about the Company’s review of potential financing and strategic alternatives, the Company’s research and development efforts, the Company’s prospects for 2024, and the Company’s ability to fine tune its operations, are forward-looking statements. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements, although not all forward-looking statements contain these or similar identifying words.
These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. Such risks and uncertainties include, but are not limited to: Blackwell 3D's ability to continue as a going concern; Blackwell 3D's ability raise additional capital to fund its business on acceptable terms or at all; Blackwell 3D's ability to negotiate and consummate a financing or other strategic transaction; changes in the competitive industries in which the Company operates and variations in operating performance across competitors; changes in laws and regulations affecting Blackwell 3D's business; the risk of downturns in the market and Blackwell 3D's industry; risks related to the uncertainty of the projected financial information with respect to Blackwell 3D; risks related to Blackwell 3D's limited operating history and history of losses; the timing of expected business milestones; Blackwell 3D's ability to implement its business plan and scale its business; Blackwell 3D's ability to formulate, implement and modify as necessary effective sales, marketing, and strategic initiatives to drive revenue growth; Blackwell 3D's ability to expand internationally; the viability of Blackwell 3D's intellectual property and intellectual property created in the future; government regulations and Blackwell 3D's ability to obtain applicable regulatory approvals and comply with government regulations; and the outcome of any legal proceedings that may be instituted against the Company. A further list and description of risks and uncertainties can be found in the most recent filings with the Securities & Exchange Commission (www.sec.gov) along with additional disclosure made available with the OTC Markets Group Inc. (www.otcmarkets.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
