Branded Legacy, Inc. Board Votes For No Reverse Stock Split
Branded Legacy (OTCQB: BLEG) announced on Aug. 19, 2022, that its Board of Directors unanimously decided not to conduct a reverse stock split for at least 12 months. Additionally, the board plans to vote on reducing the authorized common shares by 300 million, bringing the total down to 600 million. Chairman Brandon Spikes emphasized building shareholder confidence through these actions, aiming for long-term value creation. The board's resolutions will be available on OTC Markets soon.
- Decision to not perform a reverse stock split for at least 12 months may boost investor confidence.
- Planned reduction of authorized shares may positively affect share value.
- None.
Board Will Vote to Reduce Authorized Common Shares
Orlando, FL, Aug. 19, 2022 (GLOBE NEWSWIRE) -- Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of cannabinoid-infused products from CBD topicals and tinctures to edibles is pleased to announce its Board of Directors held a board meeting and approved with unanimous consent it will not perform a reverse stock split for a minimum of Twelve (12) months.
The Company’s Board of Directors also plan to vote on the reduction of its authorized shares. This proposed reduction will be in the amount of Three Hundred Million Shares (300,000,000) bringing the total authorized common shares down to Six Hundred Million (600,000,000). It expects to have board approval and majority shareholder approval over the next few weeks.
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “We are putting our best foot forward to build confidence in our shareholders. Reducing the authorized shares as well as refusing to do a reverse stock split shows our ability to build trust. We want to add value for everyone and execute on our plans to make Branded Legacy a multi-million dollar company over the next several years.”
Branded Legacy’s board resolutions will be posted on OTC Markets under 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 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
FAQ
What recent decision did Branded Legacy (BLEG) make regarding stock splits?
How many authorized shares will Branded Legacy (BLEG) reduce?
When will Branded Legacy's (BLEG) board vote on share reduction?
What is the significance of the share decisions by Branded Legacy (BLEG)?
