Bergio International Announces Closing of S1 Public Offering After Successful Acquisitions of Aphrodite's and GearBubble
Bergio International Inc. (OTC PINK:BRGO) recently announced the closure of its public offering, issuing 500 million shares at $0.007 each, following S1 Registration filed on March 31, 2021. CEO Berge Abajian indicated that the raised funds were used for key acquisitions of Aphrodite's (valued at $5 million) and GearBubble (valued at $3.2 million), significantly enhancing the company's revenue potential. Gross revenue is projected to rise from $584,000 last year to approximately $20 million this year, with 2022 estimates hitting around $40 million.
- Successful closing of a $3.5 million public offering for acquisitions.
- Projected gross revenue growth from $584,000 to $20 million in one year.
- Anticipated revenue of approximately $40 million in 2022 driven by acquisitions.
- Issuance of 500 million additional shares may dilute existing shareholder value.
FAIRFIELD, NJ / ACCESSWIRE / August 26, 2021 / Bergio International Inc. (OTC PINK:BRGO), a vertically integrated designer, manufacturer, and retailer of fine and fashion jewelry, has announced the closing of the issuance of an additional 500,000,000 shares of its common public stock at a public offering price of
Berge Abajian, Chief Executive Officer of Bergio International, shared, "After a successful offering, we have decided to close our S1 registration as it is no longer needed. Every dollar raised was efficiently used for our pivotal acquisitions of Aphrodite's and GearBubble, which changed the financial landscape of Bergio, along with operational funds to move the company forward. In the past five months, we have greatly moved the dial, going from
Berge Abajian added, "We are also moving forward with our due diligence for the purchase of a manufacturing factory in Armenia, in anticipation of serving the ever-growing needs of Aphrodite's and GearBubble production demands that are expected to peak during the important fourth quarter due to the busy holiday season. Financing for the new purchase is already earmarked and will come out of operations."
Bergio filed an S1 Registration Statement in anticipation of raising funds to cover the purchase of Aphrodite's, a fast-growing jewelry e-tailer for
About Bergio International, Inc.
The Bergio brand, the primary portfolio asset, is associated with high-quality, handcrafted, and individually designed pieces with a European sensibility, Italian craftsmanship, and a bold flair for the unexpected. Established in 1995, Bergio's signature innovative design, coupled with extraordinary diamonds and precious stones, earned the company recognition as a highly sought-after purveyor of rare and exquisite treasures from around the globe. With family jewelry roots reaching back to the 1930s, founder, CEO, and designer Berge Abajian is a third-
generation jeweler, blending superior knowledge in design and manufacturing to create unparalleled collections in craftsmanship and style. The Bergio brand features fine jewelry, silver fashion jewelry, bridal, couture, and leather accessories, ranging in price from
This press release includes forward-looking statements regarding our business strategy and plans as well as expectations of future growth, all of which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical in nature and include those related to future financial and operating results, benefits, and synergies of the combined companies, statements concerning the Company's outlook, pricing trends, and forces within the industry, the completion dates of capital projects, expected sales growth, cost reduction strategies, and their results, long-term goals of the Company and other statements of expectations, beliefs, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including changes in the general economy; changes in demand for the Company's products or in the cost and availability of its raw materials; the actions of its competitors; the success of our customers; technological changes; changes in employee relations; government regulations; litigation, including its inherent uncertainty; difficulties in plant operations and materials; transportation, environmental matters; and other unforeseen circumstances. A number of these factors are discussed in the Company's previous filings with the U.S. Securities and Exchange Commission, including those detailed under the caption 'Risk Factors' in our Annual Report for the year ended December 31, 2020 filed with the SEC. The Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. The safe harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the 'Act') protects companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Media Contact:
Lais Pontes Greene
(954) 960-6083
Investor Relations
John Guercio
(845) 216-3100
SOURCE: Bergio International, Inc.
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