Defense Technologies International Corp. (OTCMKTS:DTII) Files An 8-K Material Modification to Rights of Security Holders
Item 3.03 Material Modification to Rights of Security Holders.
On December 11, 2018, the Defense Technologies Board of Directors unanimously resolved to revise the terms of the company’s Series A and Series B Preferred Shares. Under the new terms, the conversion right of both Series A and B Preferred Shares was changed from the present ten (10) shares of DTII Common Stock for each one (1) share of Preferred Stock, to the new conversion right of five (5) shares of DTII Common Stock for each one (1) share of Preferred Stock. The revised conversion terms apply to all issued and outstanding Preferred Shares and to future issuances of Series A and Series B Preferred Stock. The Board has received the unanimous consent to the changed terms from each current Preferred shareholder.
As of the date hereof, there are issued and outstanding 2,925,369 shares of Series A Preferred Stock and 520,000 shares of Series B Preferred Stock. In addition to the conversion right, the Series A Preferred Shares have Common Stock voting rights on the basis of 100 votes per each Series A Share. Series B shares carry no voting rights.
Item 8.01 Other Items.
DTII is announcing that it has entered into a service agreement with Integrity Media, whereby Integrity will become the company’s investor relation agency of record for a three-month period. Under the terms of the agreement, Integrity will provide dedicated phone support and e-mail responses to shareholders and other interested parties. Integrity will also assist in preparing and distributing press releases, message board monitoring and general consulting and assistance in financial communication and market strategy.
Management believes that Integrity’s services will assist in exposing DTII and its Passive Scanning Technology to the investing public. In consideration for its services, DTII will issue to Integrity shares of restricted DTII common stock.
Cautionary Note About Forward-looking Statements
Statements contained in this current report which are not historical facts, may be considered “forward-looking statements,” which term is defined by the Private Securities Litigation Reform Act of 1995. Any “safe harbor under this Act does not apply to a “penny stock” issuer, which definition would include the company. Forward-looking statements are based on current expectations and the current economic environment. We caution readers that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance or expectations expressed or implied by such forward-looking statements.
About Defense Technologies International Corp. (OTCMKTS:DTII)
Defense Technologies International Corp., formerly Canyon Gold Corp., is an exploration-stage company seeking potential business opportunities in the minerals industry. The Company is engaged in the search for mineral deposits or reserves of precious and base metal targets, which are not in either the development or production stage. Its mineral property interests consisted of 30 Bureau of Land Management mineral lease claims, situated in the west section of the new Long Canyon Gold Trend area of east central Nevada, as of April 30, 2016. These properties are located next to other exploration projects in the Long Canyon Gold Trend. All the claims are located in Section 35, T 34N R63E, Mount Diablo Base & Meridian. It focuses on exploring the claims for gold and silver mineralization deposits as funding permits. It was focused on exploring for gold, silver and other minerals on property covering an area of 640 acres, as of April 30, 2016. As of April 30, 2016, it had no revenues.
