Parks! America Announces Significant Breakthrough for Registered Shareholders

PINE MOUNTAIN, Georgia, May 13, 2024 (GLOBE NEWSWIRE) -- Parks! America, Inc. (OTCPink: PRKA) (“Parks! America” or the “Company”), a leading operator of regional safari parks in the United States, today announced effective May 1, 2024, Parks! America became eligible for The Depository Transfer Corporation (“DTC”) Fast Automated Securities Transfer Program (“FAST”). The Company is now in the process of working through step-by-step procedures that will allow Parks! America shareholders to transition their paper stock certificates into an electronic format.

Upon completion of the transition process, Parks! America shareholders will be able to send their paper stock certificates to Securities Transfer Corporation (“STC”), the Company’s stock transfer agent. STC will then convert the paper certificates to “book entry” or electronic recordkeeping format. Shareholders will then be able to request that their stockbroker move the Parks! America shares into their respective brokerage accounts. The Company will also make its best efforts to identify one or more brokers who will accept Parks! America shares.

Lisa Brady, President and CEO of Parks! America, said “We have taken another critical step in our commitment to helping our loyal shareholders. The benefits of holding shares electronically are numerous, including eliminating issues of losing a certificate, being able to transfer ownership of your shares and moving shares into and out of a brokerage account. We are working out the logistics for the transition, and we will publish detailed instructions upon completion.

“Many long-term Parks! America stockholders have stock certificates with a RESTRICTED legend, for which we believe an exemption is in effect. We are working with legal counsel and STC to make the process of removing this restriction a seamless part of the conversion to book entry process.”

Ms. Brady concluded, “As we believe this is a significant breakthrough for Parks! America stockholders, the Company will cover the cost of legal opinions and DTC compliance matters that may be required in converting their paper certificates to book entry (generally $35-$100 per paper stock certificate) through September 27, 2024. We plan on issuing a press release in the coming week or so to provide all Parks! America shareholders with detailed instructions on how to send your shares to STC for conversion to book entry format.”