Limitless Venture Group Inc.'s New CEO Addresses Shareholders
February 12 2014 - 10:25AM
Marketwired
Limitless Venture Group Inc.'s New CEO Addresses Shareholders
Announces Significant Actions
HOLBROOK, NY--(Marketwired - Feb 12, 2014) - Limitless
Venture Group Inc. (OTC Pink: LVGI) new CEO, Joseph Francella,
announces the following:
Now that I have taken my place as the CEO of LVGI, let me update
you on my first few weeks in office and explain my commitment to
you the shareholders and this wonderful Company.
Below is a SIGNIFICANT shareholder value ACCOMPLISHMENT ALREADY
COMPLETED to date:
1) 520,000,000 shares of common stock have been RETURNED to
the company and CANCELLED, to bring the current Issued and
Outstanding DOWN to just above 1.5 Billion shares, which INCREASED
SHAREHOLDER VALUE SIGNIFICANTLY. This action actually took place
during earlier discussions PRIOR to my becoming CEO.
Here is my commitment:
My Initial Employment Agreement is for a term of 6 months, with
an option for one year additional terms thereafter. During this
initial 6 month term, MY COMPLETE AND TOTAL SALARY will be $1 (ONE
DOLLAR). CORRECT, THAT'S ONE DOLLAR -- PERIOD! Additionally, I will
be granted an option to purchase common stock at an exercise price
of $.001, which is 10 TIMES higher than the price the common stock
was trading at when I took this office. That option is NOT
exercisable until AFTER June 15th, 2014, which is the END of the
initial 6 month term. Furthermore, if the Board does NOT extend my
Employment Agreement for another year, I WILL VOLUNTARILY FORFEIT
that option for stock and take ONLY the $1 (ONE DOLLAR) as MY
COMPLETE AND TOTAL SALARY for the 6 month term I completed.
As you can see, I am FULLY VESTED in this company and believe
whole heartedly in its fantastic products and limitless future.
With all that in mind, I am obligating myself to not only
getting the company moving forward immediately but to keep it going
in that direction for the long term. We have a lot of great
products already under our umbrella which need to be produced and
brought to market along with research and development on new
products to follow, which is what LVGI is all about.
Thank you for your continued support and stay tuned to our
Bright New Future.
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
lines consists of SLAM Infusination™ Limitless Body™, Limitless
Health™ and GEAR products.
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: Joseph Francella C.E.O. Limitless Venture Group Inc.
631.750.3195