IRVINE, CA--(NewMediaWire - Mar 1, 2017) - iBrands
Corporation Inc. (OTC
PINK: IBRC) Shareholder update:
iBrands Corporation Inc.'s CEO, Michael Ogburn, is pleased to
announce that our 1,000 kilo CBD oil deal is going forward as
planned. We received our deposit on February 27th and will collect
the balance due upon shipment of the product by the middle of
March. iBrands is also fielding several calls per day regarding
future sale from 100 grams to orders in the "tons." "We have been
building the Purest CBD brand for over a year and now it's really
starting to pay off," states Ogburn.
Ogburn is also a Managing Partner of Lightwave Capital LLC. In
the third quarter of 2016, Lightwave owned over 10B shares of
iBrands stock. 5 billion of those shares were transferred to
another member of management, leaving Lightwave with a little over
5B. Now Lightwave, under the direction of Ogburn, will be retiring
4.5 Billion of those shares or roughly 30% of the issued and
outstanding. "5% of something huge, to me, is bigger than 70% of
something small," Ogburn states.
Lightwave also owns $296,000 in convertible notes that are on
the balance sheet. Lightwave will be forfeiting and cancelling
those notes. "This is a show of good faith that we are more focused
on the future of iBrands. These notes, if converted, would exceed
$1,000,000 as of today. We are in this for the long haul and feel
the stock is undervalued, and one way to start realizing that value
is to have a clean balance sheet," stated Ogburn.
About iBrands Corporation, Inc.:
Headquartered in Irvine, California, iBrands Corporation, Inc.
engages in the manufacturing and distribution of Ultra-Premium
Vapor and CBD products that are made in the USA.
Safe Harbor Statement:
This press release may contain forward looking statements
and or observations which are based on current expectations,
forecasts, and assumptions that involve risks as well as
uncertainties that could cause actual outcomes and results to
differ materially from those anticipated or expected, including
statements related to the amount and timing of expected revenues as
well as any payment of dividends on our stock, statements related
to our financial performance, expected income, distributions, and
future growth for upcoming quarterly and annual periods. These
risks and uncertainties include but not limited to information as
contained within the Company's most current quarterly reports,
annual reports, and or other such filings as may be accessed
through the OTCBB website. Furthermore, the Company disclaims any
intention or obligation to update or revise any such forward
looking statements, whether as a result of new information, future
events, or otherwise. We have incurred and will continue to incur
significant expenses in our expansion of our existing as well as
new product lines noting there is no assurance that we will
generate enough revenues to offset those costs. Additional
product offerings may expose us to additional legal and regulatory
costs and unknown exposure(s) based upon the variables as
associated with the general business channel we are operating in,
the impact of which cannot be predicted at this time including
risks as associated with our product and recent FDA
pronouncements.