Limitless Venture Group Inc. Announces a Special Website to Gauge Interest in a Potential Share Buyback Offer From the Compan...
December 10 2013 - 8:30AM
Marketwired
Limitless Venture Group Inc. Announces a Special Website to Gauge
Interest in a Potential Share Buyback Offer From the Company or
Reverse Split
Company Seeking Feedback From Shareholders Before Implementing
Any Corporate Actions and Going for Regulatory Approval
HOLBROOK, NY--(Marketwired - Dec 10, 2013) - Limitless Venture
Group Inc's. (OTC Pink: LVGI) in response to shareholder requests
about the dilutive events taking place, because of the conversion
of senior note holders debt to equity, is considering offering a
share buyback. The buyback will be set up not as a cash buyback,
but an offer to buy back all shares with an interest bearing note,
at .003 (3/10 of a penny) per share plus interest. Shareholders who
take advantage will receive a 12 month note for the full amount of
their holdings plus 10% (ten percent) interest. Another possible
option would be to enact a reverse split. LVGI has received many
inquiries about whether or not the company was planning a reverse
split and would like the opinion of all shareholders on the above
corporate actions, before we further consider taking any
actions," said CEO Peter Scalise.
LVGI believes either or both corporate actions should afford
LVGI access to better capital sources thereby allowing it to move
forward with the distribution and marketing of their SLAM,
Limitless Body and Limitless Health product lines. LVGI also
believes once the above product lines are in full production and
readily available, it will be able to retire all the buyback notes
when they mature, should that be the direction taken.
Either or both plans of action need to be fully vetted and
approved by FINRA and other regulatory bodies. Our first step
however in deciding whether or not to take the necessary steps is
to gauge our shareholder enthusiasm.
To that extent we have set up a website
www.LVGIsharebuyback.com. Shareholders can log on to the site and
simply add their thoughts, comments and suggestions. Management
will go through all responses and report the consensus to our
shareholders via a follow up press release. We will have the
website live for a two week comment period starting December 10,
2013 ending December 24, 2013. Shareholders are encouraged to
divulge their position held and cost basis plus state clearly if
they would take advantage of the buyback offer as proposed and/or
their thoughts on a possible reverse splits of shares. This is not
a forum site for debate so all comments need to be direct and on
topic or will be disregarded.
"I want to be clear, besides regulatory body approval, either
option will not be acted upon before us receiving feedback in
support of the moves by a majority of LVGI shareholders," stated
CEO Scalise.
About Limitless Venture Group Inc. Located in Holbrook, New York
Limitless Venture Group Inc is a full service brand development
company specializing in beverage, supplement and healthy lifestyle
products. Limitless acts as a brand incubator bringing products
from concept to reality then releasing them as standalone
companies. Limitless Venture Group Inc has internationally
recognized formulators, in house graphics department, in house web
design team, and full support staff for marketing and distribution
chain development. Limitless Venture Group Inc. proprietary product
line consists of SLAM Infusination™ Limitless Body™, Limitless
Health™.
For further inquiry on Limitless Venture Group Inc.
products:
Website: www.lvginc.com
Forward-Looking Statements This release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements contained in this release that are
not historical facts, including, without limitation, statements
that relate to the Company's expectations with regard to the future
impact on the Company's results from new products in development,
may be seemed to be forward-looking statements. Words such as
"expects", "intends", "plans", "may", "could", "should",
"anticipates", "likely", "believes" and words of similar import
also identify forward-looking statements. These statements are
subject to risks and uncertainties. Forward-looking statements are
based on current facts and analysis and other information that are
based on forecasts of future results, estimates of amounts not yet
determined and assumptions of management. Readers are urged not to
place undue reliance on the forward-looking statements, which speak
only as of the date of the release. Except as may be required under
applicable law, we assume no obligation to update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this release.
Contact: Peter Scalise III C.E.O. Limitless Venture Group Inc.
631.750.3195