iQSTEL’s Outstanding Share Reduction of 20.8M Restricted Shares Delayed Due to COVID-19

NEW YORK, NY, May 18, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE ‒ iQSTEL Inc. (OTC: IQST) would like to update shareholders as to the status of the April 2nd announced share return.  

Originally planned to be completed within 1-2 weeks pending medallion signature guarantees by all shareholders, the spread of COVID-19 and global shutdown have temporarily suspended the transaction.

Mr. Iglesias commented: “We are seeing various countries and states slowly opening back up and anticipate a 1-2 month period before the transfer agent receives the shares. These shares are restricted and therefore have no effect on the IQST float. While people and the global economy has suffered immensely due to COVID-19, we continue developing our business plan and look forward to updating shareholders on current and new exciting developments.”

As of May 1st, 2020 the outstanding share count is 53,742,571 per the transfer agent.

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iQSTEL Inc (OTC: IQST) Article source: https://www.globenewswire.com/news-release/2020/05/18/2034787/0/en/iQSTEL-s-Outstanding-Share-Reduction-of-20-8M-Restricted-Shares-Delayed-Due-to-COVID-19.html