Branded Legacy Inc. Invites Shareholders to Celebrate Milestones at Open House: Announces Share Buyback and Commitment to Authorized Share Count

Rhea-AI Summary

Branded Legacy (OTCQB: BLEG), a leading wellness product provider, invites shareholders to an exclusive open house on June 14th to celebrate the new extraction and manufacturing equipment. The company announced a share buyback initiative and pledged to maintain the current authorized share count, avoiding reverse splits unless necessary for uplisting. Additionally, Branded Legacy introduced the Royal Biotek Kava Vape, receiving strong distributor feedback and pre-sales. The company reported a net income of $3.8M for 2023, boosted by the retirement of over 2.4 billion shares, and has signed multiple white label contracts for 2024.

Positive

• Share buyback initiative reflects confidence in growth.
• Strong pre-sales and positive feedback for Royal Biotek Kava Vape.
• Significant increase in net income to $3.8M for fiscal year 2023.
• Strategic retirement of over 2.4 billion shares enhances shareholder value.
• Multiple ongoing white label contracts indicate future revenue growth.

Negative

• Commitment to avoiding reverse splits only unless necessary, which implies potential listing challenges.
• Maintenance of current authorized share count without change may limit future capital raising flexibility.

Leading Cannabis Innovator Demonstrates Confidence in Future Growth and Shareholder Value

MELBOURNE, Fla., May 15, 2024 /PRNewswire/ -- Branded Legacy, Inc, (OTCQB: BLEG) a leading provider of innovative wellness products, is thrilled to announce a momentous occasion for the company and its shareholders. In celebration of the successful installation and operation of their state-of-the-art extraction and manufacturing equipment, they are cordially inviting all shareholders to an exclusive open house event at their stunning facilities.

The open house will offer shareholders an opportunity to witness firsthand the cutting-edge technology and meticulous processes that underpin operations at Banded Legacy. From extraction to manufacturing, guests will experience the precision and excellence that define Branded Legacy's commitment to quality and innovation.

Furthermore, Branded Legacy has announced that their Board of Directors has unanimously voted in favor of a share buyback initiative, reinforcing their commitment to enhancing shareholder value. This strategic decision reflects Branded Legacy's confidence in their growth trajectory and underscores their dedication to rewarding shareholders. Additionally, the board has voted to maintain the current authorized share count, and pledges that no reverse splits will be considered unless necessary for uplisting. These actions affirm their commitment to responsible corporate governance and building shareholder confidence.

In tandem with these exciting developments, Branded Legacy is thrilled to unveil their latest product innovation: the Royal Biotek Kava Vape. Following rigorous development and testing, Branded Legacy is pleased to report overwhelming positive feedback from distributors and pre-sales. Interest has been robust surrounding the official release of the Kava Vape, with demand already surpassing expectations.

"We are thrilled to share these milestones with our shareholders and partners," said David Oswald, CEO of Branded Legacy Inc. "The successful implementation of our advanced extraction and manufacturing capabilities, coupled with the decision to initiate a share buyback and maintain our authorized share count, underscores our unwavering commitment to delivering value and fostering confidence among our stakeholders."

The open house event will take place on June 14th at 751 North Dr. Melbourne, FL 32934 from 11:00am to 2:00pm. Shareholders are encouraged to RSVP at info@brandedlegacy.com by Friday May 31st to ensure their attendance.

For media inquiries or further information, please contact Joseph Holladay at info@grandedlegacy.com or text or call at (303) 908-2356.

In other news, Branded Legacy announced a net income for the fiscal year 2023 of $3,825,527, a substantial increase driven by the strategic retirement of over 2.4 billion shares. As they forge into 2024, the company has signed multiple on-going white label contracts, poised to further enhance our revenue and profitability for the coming year and beyond.

Original Copy of this Press Release: https://brandedlegacy.com/branded-legacy-inc-invites-shareholders-to-open-house/

For Investor Relations & Media Contact:
Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: info@brandedlegacy.com
Website: https://brandedlegacy.com/

About Branded Legacy, Inc.:
Branded Legacy, Inc. (OTC: BLEG) is a diversified holdings company focused on the biotech sector. With a commitment to excellence and innovation, Branded Legacy specializes in the development and marketing of cutting-edge products and services, including ventures in biotechnology, digital solutions, and wellness products.

Safe Harbor Statement on Forward-Looking Language:
This release includes forward-looking statements, subject to risks and uncertainties that could cause actual results to differ materially from current expectations. The company disclaims any intention or obligation to update or revise forward-looking statements. Forward-looking statements may be identified by words such as "may," "will," "expect," "believe," "anticipate," "estimate," and similar expressions.

View original content:https://www.prnewswire.com/news-releases/branded-legacy-inc-invites-shareholders-to-celebrate-milestones-at-open-house-announces-share-buyback-and-commitment-to-authorized-share-count-302146305.html

SOURCE Branded Legacy, Inc

FAQ

What is the date of Branded Legacy's open house event?

The open house event is on June 14th from 11:00am to 2:00pm.

What is Branded Legacy's new product?

The new product is the Royal Biotek Kava Vape.

What were the financial results for Branded Legacy in 2023?

Branded Legacy reported a net income of $3.8 million for 2023.

What strategic decision did Branded Legacy make regarding shares?

The company announced a share buyback initiative and pledged to maintain the current authorized share count.

What has driven Branded Legacy's increased net income?

The net income increase was driven by the retirement of over 2.4 billion shares.