MIAMI, March 28, 2013 /PRNewswire/ -- Green Innovations Ltd. (OTCQB: GNIN) (OTCBB: GNIN) ("Green Innovations" or the "Company") is pleased to announce that the previously declared stock dividend to shareholders has been approved by FINRA and is now in the final stages of distribution to shareholders.
As previously announced February 19, 2013, the Company initiated an issuance of a 24% dividend (the "Stock Dividend") to all common stock shareholders of record as of February 19, 2013 (the "Record Date"). The Stock Dividend consisted of 0.24 new common shares of the Company for each one (1) common share held by shareholders as of the Record Date. Fractional entitlements were rounded up to the nearest whole number.
Mr. Bruce Harmon, Chief Executive Officer of Green Innovations, stated, "Distribution of the newly issued dividend shares is well underway. In fact, many of our shareholders who own their GNIN shares with registered stock brokers have already reported receiving their new shares directly to their accounts. We anticipate that this electronic process will be completed by the remaining brokerage firms over the next several days. Shareholders that hold their shares in physical certificate form should expect to receive their new dividend shares via registered mail directly from our transfer agent."Following the issuance of the Stock Dividend, there are a total of 31,153,754 GNIN common shares outstanding. About Green Innovations Ltd. Green Innovations Ltd., through its wholly-owned subsidiary Green Hygienics, Inc., is the exclusive licensed North American distributor of American Hygienics Corporation's 100% tree-free bamboo-based product line, including personal care and paper-based goods. The Company provides consumers the opportunity to enjoy high-quality and performance eco-friendly goods from dedicated experts that have been producing bamboo products for over a decade, along with the cost-benefit of local raw material manufacturing, and the satisfaction of knowing that by using these products they are doing their part to reduce their carbon footprint and to continue the movement towards a more healthy and sustainable planet.