New York, NY (Top40 Charts/ Primco Management) Primco Management Inc. (OTCBB: PMCM), a medical marijuana, real estate management and multi-media company, today announced that the Company's Board of Directors has declared a stock dividend of its ESMG, Inc. music division, effectively divesting the entertainment asset to become a newly traded stock on the OTCQB market.
Brandon Padilla, former Vice President of marketing at Virgin Records, has been appointed President. Shareholders as of record date October 1, 2014, will receive one share of ESMG common for each 50 shares of Primco Management, Inc.
"By splitting Primco into two distinct trading companies, we can utilize the public markets to separately and effectively fund each operation independently with no ill effect on the other and zero dilution to any current Primco shareholder," stated
David Michery, CEO of Primco. "I have great confidence in
Brandon and am convinced that ESMG, as a separately traded entity, will greatly benefit all of our Primco shareholders in the long run."
Brandon Padilla was a former Vice President of Marketing for Virgin Records and was credited as part of the team responsible for breaking the records of smash hit artists Daft Punk, Lenny Kravitz,
Smashing Pumpkins and Mariah Carey. Terms of Mr. Padilla's employment agreement were not disclosed at this time.
In other news, Primco announced that it has completed the acquisition and consolidation of "My Suzy Q's" and "Seattle Green Care" in Seattle, WA.
About Primco Management Inc.:
Through its wholly-owned subsidiaries, ESMG Inc., Top Sail Productions and D & B Music, Inc., the Company operates as an integrated entertainment company with divisions in music and film production and distribution. Primco also operates in various aspects of the real estate industry. (For additional information, visit www.primcousa.com).
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
RELATED LINKS
https://www.primcousa.com
