MediSwipe, which provides technology solutions for the medicinal marijuana industry and 800 Commerce—an online directory and mobile marketing firm—announced on Monday that shares will be distributed to investors on Sept. 3.
The 800 Commerce shares to be distributed to MediSwipe shareholders on a pro rata basis are fully registered and will be free-trading share after distribution. The company said the payment date will likely be one week after the approved record date.
800 Commerce is in the final process of completing filing to allow stock to be quoted on the OTC Bulletin Board. The dividend will not affect the number of shares outstanding, nor any shareholder’s holdings of MediSwipe shares.
“We are extremely pleased that we are finally able to make this announcement to our shareholders as it couldn’t come at a better time for both MediSwipe and 800 Commerce,” 800 Commerce founder and CEO B. Michael Friendman said. “We expect to receive our trading symbol as a fully reporting company over the next short weeks. The 800 Commerce offices in downtown Detroit and within a square mile of some of the largest companies in the U.S. including GM, Deloitte, Marriott, MGM and the bridge to Canada from our window, we look forward to a year of continued growth.”