Branded Legacy, Inc. Reduces Issued and Outstanding Shares By 46%
Branded Legacy has successfully canceled 202 million common shares in August 2022 to improve its share structure and enhance shareholder value. The company's recent cancellation of 40 million shares brings the issued and outstanding total down to 236,982,816. CEO Jermain Strong expressed optimism about the company's ongoing share buyback program, aiming to further boost shareholder returns. The company specializes in cannabinoid-infused products, targeting health and wellness sectors.
- Cancellation of 202 million common shares enhances shareholder value.
- Current outstanding shares reduced to 236,982,816.
- Ongoing share buyback program to further improve shareholder returns.
- None.
Company Eliminates 202 Million Common Shares in August
Orlando, FL, Aug. 15, 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 canceled Forty Million (40,000,000) common shares.
The Company has been working over the last couple of weeks to reduce its issued and outstanding shares. The Forty Million (40,000,000) additional share cancelation makes a total of Two Hundred and Two Million (202,000,000) total shares canceled during the month of August alone. This brings the current issued and outstanding down to 236,982,816.
Jermain Strong, Branded Legacy, Inc.’s CEO, concluded, “We are excited to bring yet another share cancelation. The company has been able to reduce a significant number of common shares. We have successfully improved the Company’s share structure while adding value for our shareholders. As I previously stated, we stand by our board’s decision of a share buyback program to help continue improving shareholder value”
The Exchange Agreements will be posted on the OTC Markets, Inc. website under the Company’s disclosure section and titled 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
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