Branded Legacy, Inc. Announces Cancelation of 102 Million Common Shares
August 09 2022 - 8:30AM
InvestorsHub NewsWire
Eliminates 23% of Issued and
Outstanding to Improve Capital Structure
Orlando, FL -- August 9, 2022 -- InvestorsHub NewsWire --
Branded Legacy, Inc. (OTCPK:
BLEG), a holding company focused on the commercial development
of hemp and cannabinoid-infused beverages, along with an array of
CBD topicals and tinctures is pleased to announce it has reduced
its issued and outstanding common shares by One Hundred and Two
Million (102,000,000) shares.
The Company is focused on tightening its share structure in
2022. To achieve this goal, the Company has negotiated exchange
agreements with previous employees to eliminate 23% of its issued
and outstanding shares.
Jermain Strong, Branded Legacy, Inc.’s CEO, concluded, “We are
doing everything in our power to get this Company growing. We are
diligently working to improve our share structure for our current
and future shareholders. This 102 million share reduction lowers
the issued and outstanding by over 23% to 336,982,816. We feel like
we are moving in a great direction. The Board is also discussing a
share buyback program to help improve shareholder value”
Branded Legacy, Inc. is also working on an additional Eighty
Million (80,000,000) plus shares of Common Stock to cancel.
The Exchange Agreements will be posted on the OTC Markets, Inc.
website under the Company’s disclosure section and titled
supplemental information.
About Spikes CBDX: Spikes CBDX is a line
of CBD products designed to assist athletes perform better, recover
faster, and avoid injuries. The Company believes that post workout
recovery, with Spikes CBDX products, can lower inflammation, aid in
making your body stronger, and help recover from injuries
naturally. The CBD line also targets individuals who are looking
for pain relief, better sleep, faster recovery and lowering
inflammation. Spikes CBDX provides tinctures, lotions, moisturizer,
and cryo-gel roll-ons. To view all the Spikes CBDX products please
visit: spikescbdx.com.
About Elev8 Hemp: Elev8 Hemp’s mission is
simple: craft the highest-quality, organic hemp products for
consumers in search of a healthier, happier lifestyle. Everyone
needs to get the proper amount of healthy proteins to keep them
feeling better and more energetic. We source only the best organic
hemp protein powders—naturally full of powerhouse amino acids and
Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with
an abundance of minerals, vitamins, antioxidants, and
fiber. www.elev8hemp.com
About Versatile Industries: Versatile
Industries, LLC has a mission to help companies enter the Hemp and
CBD markets by leveraging the buying power of multiple companies.
In doing this it brings lower costs and minimum order quantities
(MOQ) to our customers. The Company believes that reducing the
money that gets tied up in inventory allows for increased marketing
spend for small business owners. Versatile Industries feels
compelled to help businesses enter new markets by limiting the cost
of entry while maintaining profitable margins, creating a recipe
for long term business partnerships.
Safe Harbor Statement:
The information posted in this release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by the use of the words "may," "will," "should,"
"plans," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to,
general economic and business conditions, effects of continued
geopolitical unrest and regional conflicts, competition, changes in
technology and methods of marketing, delays in completing various
engineering and manufacturing programs, changes in customer order
patterns, changes in product mix, continued success in
technological advances and delivering technological innovations,
shortages in components, production delays due to performance
quality issues with outsourced components, and various other
factors beyond the Company's control.
www.brandedlegacy.com
(407) 337-0642
info@brandedlegacy.com
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