Branded Legacy, Inc. Gets Approval From State to Reduce Authorized Common Shares by 300 Million
Branded Legacy, Inc. (OTCQB: BLEG), a company specializing in cannabinoid-infused products, has received approval from Utah to reduce its Authorized Common Shares to 600 million. Chairman Brandon Spikes highlighted this move as a strategy to foster shareholder confidence. The company is also in discussions for acquisitions and is finalizing a joint venture expected to increase revenues by $300,000. Additionally, Branded Legacy previously announced the sale of Elev8 Hemp, LLC, resulting in 100 million restricted common shares for its shareholders.
- Reduction of Authorized Common Shares to 600 million enhances shareholder confidence.
- Potential revenue increase of $300,000 from a joint venture.
- Sale of Elev8 Hemp will yield 100 million restricted shares for shareholders.
- None.
Company to Sign Joint Venture to Grow Revenues by
Orlando, FL , Nov. 22, 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 it has received approval from the state of Utah to reduce the Company’s Authorized Common Shares to six hundred million (600,000,000).
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “We are very pleased to have the final stamped approval from the State of Utah to reduce the Authorized Shares to 600,000,000. We want to maintain a strong share structure for our shareholders. We want to maintain a low authorized amount to allow our shareholders to feel more confident in the Company. Currently we are in the talks with two Company’s for potential acquisitions as well as in the final stages of a joint venture with another publicly traded Company. We are excited to be releasing this news over the coming days.”
In a previous news release, the company announced that it had sold Elev8 Hemp, LLC to another publicly traded company for One Hundred Million (100,000,000) restricted common shares. Those shares will be distributed to shareholders of Branded Legacy as of the record date which has yet to be determined.
About Spikes CBDX: Spikes CBDX is a line of CBD products designed to assist athletes perform better and recover faster. 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 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, a solar and water treatment company Magic 1 Promotions h2oandsolarsolutions.com, LLC and Astound NMN. By supplementing NMN it 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
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