Branded Legacy, Inc. Secures $1M Line of Credit, Affirms No Reverse Split, and Previews Upcoming Investor Engagements

Rhea-AI Summary

Branded Legacy, a biotechnology holdings company, secures a $1M line of credit under a fixed interest rate to support strategic growth without shareholder dilution. The company also commits to enhancing shareholder value by retiring 1.6 billion shares and avoiding a reverse stock split.

Branded Legacy strengthens financial stability with a new line of credit and commits to enhancing shareholder value by avoiding a reverse stock split.

MELBOURNE, Fla. , Nov. 7, 2023 /PRNewswire/ -- Branded Legacy, Inc (OTC.PK: BLEG), a biotechnology holdings company, has secured a $1M line of credit under a fixed interest rate, underscoring its commitment to strategic growth without shareholder dilution. This financial maneuver is aligned with the company's disciplined approach to expansion and reflects confidence in its operational and fiscal policies.

Dave Oswald, CEO of Branded Legacy, affirms, "This line of credit is pivotal, providing us with the flexibility to advance our operations and affirming our commitment to maintaining shareholder value. It's a strategic choice that supports our growth ambitions while preserving our corporate integrity."

In its ongoing efforts to enhance shareholder value, Branded Legacy has retired 1.6 billion shares and reduced its preferred classes to three. Independent Director Steven Augustine emphasizes the leadership's pledge to shareholder alignment, stating, "Our team is resolutely invested in Branded Legacy's future, evidenced by our unanimous decision against share liquidation, further securing our collective long-term interests

In line with these developments, Branded Legacy is excited to announce plans for an open house at its expansive 11,000 square-foot facility, providing an opportunity to experience the company's operations up close. Details will be released in the coming weeks.

Additionally, the investor packet, previously mentioned in the last teleconference, is nearing completion after thorough review by the finance team and consideration of recent acquisitions.

Dates and schedules are being aligned for the next investor tele-conference, slated for Q4, which will provide an in-depth update on the company's direction and initiatives.

Reflecting on our last communication, we not only shared the retirement of 1.6 billion common shares but also our ongoing efforts to enhance shareholder value. Today's announcement of securing a $1M credit line, coupled with our commitment to a stable share structure and executive alignment with shareholder interests, underscores our dedication to a prosperous future for Branded Legacy.

About Branded Legacy

Branded Legacy Inc. (OTC.PK:BLEG) is a forward-thinking biotechnology company dedicated to driving innovation in plant-derived medicines and biotechnological breakthroughs. The company's strategic partnerships and milestone achievements highlight its dedication to transforming patient care and contributing to the advancement of healthcare solutions.

Investor Relations & Media Contact

Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: info@brandedlegacy.com Website: https://brandedlegacy.com/

To view the original version on Branded Legacy Inc.'s website, visit Branded Legacy's News.

Safe Harbor Statement on Forward-Looking Language:

This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.

 

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SOURCE Branded Legacy, Inc.

FAQ

What is the ticker symbol of Branded Legacy, Inc?

The ticker symbol of Branded Legacy, Inc is OTC.PK: BLEG.

What financial move did Branded Legacy make to support its growth?

Branded Legacy secured a $1M line of credit under a fixed interest rate to support its strategic growth without shareholder dilution.

What steps did Branded Legacy take to enhance shareholder value?

Branded Legacy retired 1.6 billion shares and reduced its preferred classes to three, emphasizing its commitment to enhancing shareholder value.

When is the next investor tele-conference scheduled for Branded Legacy?

The next investor tele-conference for Branded Legacy is slated for Q4, providing an in-depth update on the company's direction and initiatives.