BOULDER, Colo. -- SEFE, Inc. (OTCBB/OTCQB: SEFE) (the "Company"), a sustainability company engaged in offering innovative, pioneering solutions for the world's energy needs, today announced that it has retired 4.5 million shares of common stock, resulting in an approximate 8% reduction in the number of common shares issued and outstanding.
The retirement of these shares occurred in connection with a Separation and Release Agreement entered into by the Company and a former director. Immediately following the exchange and retirement of the common shares, the number of common shares issued and outstanding was reduced from 59,583,575 to 55,083,575. The DTC float is now 13,774,000, and the number of authorized shares is 200,0000,000.
Don Johnston, CEO of SEFE, stated, "The retirement of these common shares is a very positive step toward improving our Company's overall capital structure and enhancing value for both new and existing shareholders."