ORLANDO, FL - August 31, 2026 (NEWMEDIAWIRE) - Pride Holdings Group (OTC: PHSE) today announced a significant step in its ongoing corporate restructuring initiatives designed to simplify the Company’s capital structure and strengthen its long-term strategic position.

As part of these initiatives, former Chief Executive Officer J. Michael (Mike) Barrett has completed the return of 32% of the Company’s common shares to the Company’s treasury. This substantial return of shares represents an important component of Pride Holdings Group’s broader effort to streamline its common share structure.

In addition, several officers of the Company have agreed to exchange portions of their common stock holdings for preferred stock, which is expected to further reduce the number of common shares outstanding.

Upon completion of these transactions, Pride Holdings Group expects its common shares outstanding to be reduced to approximately 1 billion shares.

These actions reflect the Company’s continued commitment to strengthening its corporate structure and positioning Pride Holdings Group for its next phase of strategic growth. Management believes a more streamlined capital structure may provide the Company with greater flexibility as it continues to pursue acquisitions, expand its operating divisions, and execute its long-term business strategy.

Interim Chief Executive Officer Tim Majors commented:
“These transactions demonstrate the confidence our leadership team has in the long-term direction of Pride Holdings Group. The return of 32% of the Company’s common shares to treasury, together with the restructuring of certain insider holdings into preferred stock, represents a significant step toward creating a more streamlined capital structure. As we continue executing our acquisition strategy and expanding our portfolio of businesses, we believe these initiatives better position Pride Holdings Group to pursue sustainable long-term growth and create value for our shareholders.”