On July 9, 2018, the Company was notified that FINRA had passed on the Company’s Form 211 application and set July 10, 2018 as the date its stock would begin being quoted under the symbol “GCAN.” So what does a shareholder need to do at this point to sell their shares:
(i) If your shares are held at a broker dealer such as Etrade, Schwab, TD Ameritade, Scottrade, Interactive Brokers or any other online broker, you will need to contact the Company to ask them to place a “sell” order. The shares on deposit at the broker dealer have a restrictive legend on them that is to be removed with the “Effectiveness” of the Company’s Registration Statement and subsequent Post-Effective Amendment to the Registration Statement. The Registration Statement has a legal opinion which accompanies it opining on the shares. Each broker dealer may handle the transaction differently, but in short they will be required to send the certificate with the restrictive legend to the Company’s transfer agent and request that a new certificate without restrictive legend be returned. We highly recommend that you contact a representative at your broker dealer in an effort to help expedite the process. Most have been extremely slow in handling the transaction which has delayed trading.
(ii) If you are holding “in hand” the certificate issued in the stock dividend, you will need to send the certificate to the Company’s transfer agent and request that a new certificate without restrictive legend be issued.
Pacific Stock Transfer
6725 Via Austi Pkwy, Suite 300
Las Vegas, NV 89119
July 9, 2018 Update
On June 27, 2018, the Company filed a Post-Effective Amendment to its Registration Statement filed on Form S-1. On July 9, 2018, the Company received a Notice of Effectiveness from the Securities and Exchange Commission for its Post-Effective Amendment.
August 31, 2017 Update
On August 31, 2017, the Company received a Notice of Effectiveness from the Securities and Exchange Commission for its Registration Statement.
August 25, 2017 Update
On August 25, 2017, the Company filed its Amendment No. 3 to its Form S-1 with the Securities and Exchange Commission.
August 8, 2017 Update
On August 8, 2017, the Company filed its Amendment No. 2 to its Form S-1 with the Securities and Exchange Commission.
July 20, 2017 Update
On July 20, 2017, the Company filed its Amendment No. 1 to its Form S-1 with the Securities and Exchange Commission.
As of the close of business March 15, 2017, all certificates have been sent directly either to shareholders holding certificates of Sylios Corp or to broker dealers where shareholders purchased shares of Sylios Corp. To help better explain, shareholders of Sylios Corp are broken down into two categories. (1) Shareholders are in possession of their physical certificates of Sylios Corp. If this is the case, your shares of The Greater Cannabis Company, Inc. will be sent directly to you. Certificates will be sent to your address of record at the time your Sylios Corp certificate was issued to you. (2) Shareholders purchased shares of Sylios Corp through a broker dealer such as E-trade, TD Ameritrade, Scottrade or a full service brokerage firm. If this is the case, your shares of The Greater Cannabis Company, Inc. were sent directly to your broker dealer of record. Please allow them 5-7 business days to post your shares of The Greater Cannabis Company, Inc. As always, if you have any questions regarding your shares of The Greater Cannabis Company, Inc., feel free to contact us at email@example.com.
When Will My Shares Arrive?
On March 7, 2017, Sylios received notification from FINRA that they had received the necessary documentation to process the corporate action requested by Sylios and its transfer agent, Pacific Stock Transfer. The Payment Date was changed to March 10, 2017. There was no change to the Record Date to determine who should receive shares. All certificates will be sent out by the Company and the Transfer Agent within three (3) business days of the Payment date.
Who gets shares of GCC?
Holders of Sylios Corp common stock, (OTC Pink: UNGS), as of the close of business January 31, 2017.
If I buy shares of Sylios Corp on February 1, 2017 or after will I receive shares of GCC?
How many shares will I receive?
You will receive 1 share of common stock of GCC for every 500 shares of common stock you own of UNGS.
What happens if I do not own 500 shares exactly?
In lieu of issuing fractional shares in connection with the stock dividend, the company will round fractional shares up to the next whole share.
Do I need to contact my broker about the stock dividend?
No. On the Payment Date, GCC’s transfer agent will send out the newly issued shares of GCC common stock to those Broker-Dealers and individuals holding certificates (“certificated shares”). Pacific Stock Transfer will act as GCC’s transfer agent.
Once I receive my shares, can I sell them immediately?
No. GCC is filing an initial Registration Statement (“S-1”) with the Securities and Exchange Commission (“SEC”) to register the shares being issued as per the stock dividend. Once the S-1 is deemed effective by the SEC, shareholders of GCC may sell those shares which were registered.
Is there any cost to me to register my shares of GCC?
Is there a stock symbol for GCC?
During the registration process, the Company will file an application with the Financial Industry Regulatory Authority (“FINRA”) for its trading symbol. The Company will provide FINRA with a list of 3-5 preferred trading symbols, but in the end FINRA will determine the symbol.
If I have any questions, who may I contact?
Please contact the Company at firstname.lastname@example.org. We make every effort to respond to all inquiries within one business day.