Branded Legacy, Inc. to Distribute Stock Dividend
Branded Legacy, Inc. (OTCQB: BLEG) has successfully sold Elev8 Hemp, LLC to Apple Rush Co., Inc. (OTC Pink: APRU) for 100 million restricted shares. This strategic divestment allows Branded Legacy to focus on its core business in cannabinoid-infused products. Shareholders will benefit as their equity stake will include shares from this transaction, the details of which are pending based on a record date yet to be established. The chairman expressed optimism about enhancing shareholder value by concentrating on key assets.
- Sale of Elev8 Hemp for 100 million shares enhances shareholder value.
- Strategic divestment allows Branded Legacy to focus on core cannabinoid business.
- None.
Company Sells Elev8 Hemp to Apple Rush Co., Inc.
Orlando, FL, Oct. 26, 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 sold Elev8 Hemp, LLC to Apple Rush Co., Inc. (OTC Pink: APRU). The purchase price was One Hundred Million (100,000,000) restricted common shares of Apple Rush Co., Inc. (OTC Pink: APRU).
To determine its record date, Branded Legacy, Inc. will consult with both its attorney and transfer agent. Once determined, the number of shares each shareholder owns in Branded Legacy, Inc., on the upcoming record date, will determine how many shares they will each receive from the transaction.
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “We are really excited about the sale of Elev8 and believe that this might be an excellent chance for our shareholders to become invested in two outstanding companies. By strategically spinning off assets that are not our primary focus, we are able to grow the business successfully for the benefit of our shareholders.”
Tony Torgerud, CEO of Apple Rush Co., Inc. stated, “I remember this brand from about five or six years ago and thought it was a very unique brand with much potential. They were in multiple supermarkets with Apple Rush. I'm eager to include it in our portfolio. In my opinion, I believe we can significantly grow this coffee line and have it further penetrating the market in a short period of time. It has historically done over 30k a month on Amazon and with consumers spending more now than ever online, we feel this number will be exceeded in the near future. We also see Elev8 having more CBD coffees, Delta 8, HHC, or other active ingredients and even expanding into kratom coffee.”
In a previous news release, the company announced that it would host an open house on Friday, October 21, 2022, from 10:00 am to 12:00 pm. There were many people at the open house. It was a wonderful chance for the company to highlight Alpha Growers, its most recent acquisition.
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
What is the sale price of Elev8 Hemp to Apple Rush Co., Inc.?
How will the sale of Elev8 Hemp impact Branded Legacy, Inc.'s shareholders?
What is Branded Legacy, Inc.'s focus after selling Elev8 Hemp?
