Zoned Properties (OTCQB: ZDPY), a leading real estate development firm for emerging and highly regulated industries including legalized cannabis, today announced that its board of directors has approved a share repurchase program, pursuant to which the company is authorized to purchase up to $1 million of its common stock over an unlimited time period. “As our business continues to outperform in a challenging overall operating environment, we are thrilled to announce this share repurchase program. The approval of this program demonstrates the management team’s and board’s confidence in our prospects for the future, ongoing operational strength and sound capital structure,” said Bryan McLaren, chief executive officer of Zoned Properties. “As we scale the investment portfolio, we are keeping conservative in our capital allocation strategy while also acknowledging the significant valuation gap between our public valuation and tangible book value. Due to this, it is crucial for us to be adaptable and make sure we are doing everything possible to increase shareholder value. As always, we remain committed in our strategic focus, and look forward to updating shareholders on our progress.”
To view the full press release, visit https://cnw.fm/5N0xQ
About Zoned Properties Inc.
Zoned Properties is a technology-driven property investment company focused on acquiring value-add real estate within the regulated cannabis industry in the United States. The company aspires to innovate within the real estate development sector, focusing on direct-to-consumer real estate that is leased to the best-in-class cannabis retailers. Headquartered in Scottsdale, Arizona, Zoned Properties is redefining the approach to commercial real estate investment through its standardized investment process backed by its proprietary property technology. Zoned Properties has developed a national ecosystem of real estate services to support its real estate development model, including a commercial real estate brokerage and a real estate advisory practice. With a decade of national experience and a team of experts devoted to the emerging cannabis industry, Zoned Properties is addressing the specific needs of a modern market in highly regulated industries. The company targets commercial properties that face unique zoning or development challenges, identifies solutions that can potentially have a major impact on their commercial value, and then works to acquire the properties while securing long-term, absolute-net leases. Zoned Properties targets commercial properties that can be acquired and rezoned for specific purposes, including the regulated and legalized cannabis industry. It does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the Controlled Substance Act of 1970, as amended (the “CSA”). For more information, call 877-360-8839 or visit the company’s website at www.ZonedProperties.com.
NOTE TO INVESTORS: The latest news and updates relating to ZDPY are available in the company’s newsroom at https://ibn.fm/ZDPY
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