Branded Legacy, Inc. Board Of Directors Approves Reducing Authorized Common Shares By 300 Million
August 22 2022 - 9:45AM
InvestorsHub NewsWire
Company Receives Full Board Approval For 33.33%
Reduction
Orlando, FL -- August 22, 2022 -- InvestorsHub NewsWire --
Branded Legacy, Inc. (OTCPK:
BLEG), a holding company focused on the commercial development
of cannabinoid-infused products from CBD topicals and tinctures to
edibles is pleased to announce the Board of Directors approval to
reduce its authorized shares by Three Hundred Million
(300,000,000).
Branded Legacy, Inc. expects to receive majority shareholder
consent soon, but has already received board approval for the
reduction in its authorized shares. The reduction will bring the
Authorized Common Shares down to Six Hundred Million
(600,000,000).
The Company has been working to improve its share structure as
well as increase its shareholder value through many transactions
such as reducing its debt as well as reducing the amount of issued
and outstanding common shares. The Company has lowered its
liabilities by Four Hundred and Thirty-Six Thousand One Hundred and
Nineteen dollars ($436,119) in 2022 and has reduced its issued and
outstanding common shares by Two Hundred and Two Million
(202,000,000) in the month of August. This brings the current
issued and outstanding shares down to 236,982,816.
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “I
couldn’t be more pleased with the progress that we have made. Our
shareholders are very important to us, and we are diligently
working to ensure the success of this Company.”
The Company recently posted on OTC Markets, supplemental
information regarding the reduction of liabilities as well as the
exchange agreements lowering the issued and outstanding common
shares. All information can be found here: https://www.otcmarkets.com/stock/BLEG/disclosure
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 is an acquisition company used to incubate
companies to eventually spin off into their own public vehicles.
Currently owns patent for a sports training assembly called The
Quickness. Company also owns Astound NMN. By supplementing NMN
helps maintain NAD+ levels, ultimately slowing the effects of
aging. www.astoundnmn.com
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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