Monday, 23 February 2015 08:00 AM
Simultaneously Creates Long-Term Management Incentives
St. Maarten, Dutch West Indies / ACCESSWIRE / February 23, 2015 / Blue Water Global Group, Inc. (OTCBB/OTCQB: BLUU) announces that it has cancelled 12,500,000 shares of its outstanding common stock. Simultaneously with this share cancellation, Blue Water issued 3,900,000 restricted shares to its executive officers, J. Scott Sitra (3,000,000) and Michael Hume (900,000). These incentive shares vest proportionately over the next three years. The net result of these cancellations and restricted issuances was an overall reduction of Blue Water's common stock by 8,600,000 shares, or 6.8%. Blue Water currently has 117,606,213 shares of its common stock issued and outstanding.
Blue Water's President and CEO, J. Scott Sitra, stated, "Blue Water continues to make progress and reach new milestones weekly. With the St. Maarten Rum Launch Party on Thursday and the Blue Water Bar & Grill(TM) excavation and site preparation continuing, this should prove to be a noteworthy week for Blue Water's growth and development." Mr. Sitra added, "Both Mike and I are very excited about Blue Water's future and the next few years of development ahead of us. This share reduction and incentive issuance with its three-year vesting schedule helps keep Blue Water's shareholders and management's interests aligned."
About Blue Water Global Group
Blue Water Global Group, Inc. is a publicly held developer of casual dining restaurant properties and premium distilled spirits. Blue Water is currently developing a chain of casual dining restaurants in popular tourist destinations throughout the Caribbean under the Blue Water Bar & Grill(TM) brand and a line of premium rums which include the flagship rum Blue Water Ultra Premium Rum(TM) and aged spiced Blue Water Caribbean Gold(TM) Premium Rum. Additionally, Blue Water is engaged in making strategic equity investments in promising businesses that are in the early stages of obtaining their own listing on the OTCBB. For more information, visit www.bluewaterglobalgroup.com.
Certain statements in this release, other than statements of historical fact, may include forward-looking information that involves various risks and uncertainties. There can be no assurance that such forward-looking statements will prove to be accurate. Actual result and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Blue Water Global Group, Inc. ("Blue Water") assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change, other than as required pursuant to applicable securities laws. For a description of additional risks and uncertainties, please refer to Blue Water's filings with the Securities and Exchange Commission, including "Risk Factors" in its Annual Report filed on Form 10-K.
Contact:
Investor Relations
949.264.1475
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SOURCE: Blue Water Global Group