Creatd Inc. $CRTD Announces it will be changing its Ticker Symbol to $VOCL

Rhea-AI Summary

Creatd, Inc. ($CRTD) has announced a change in its ticker symbol to $VOCL as part of a strategic shift to enhance brand visibility and differentiate itself from competitors. This change aligns with the company's focus on its Vocal platform and plans to spin off its non-core business units, including Creatd Ventures. The spin-off is part of a broader strategy to strengthen its position as a leading technology platform for creators and aims to provide long-term value for shareholders. CEO Jeremy Frommer highlighted the importance of separating matured assets and leveraging blockchain exchanges.

Positive

• Change of ticker symbol from $CRTD to $VOCL to enhance brand visibility.
• Focus on Vocal platform as primary revenue generator.
• Planned spin-off of non-core businesses to create shareholder value.

Negative

• None.

• The Company is filing an OTC Voluntary Symbol Change Request to change its ticker from $CRTD to $VOCL.
• The decision to change the ticker symbol to $VOCL aligns with Creatd's commitment to its flagship Vocal platform and its related agency, Vocal for Brands.
• The company plans to spin off Creatd Ventures DTC ecommerce division to shareholders as well, immediately following the spin-off of OG Collection Inc. to its shareholders.

NEW YORK, March 29, 2023 /PRNewswire/ -- Creatd, Inc. ($CRTD) ("Creatd" or the "Company"), the parent company of Vocal, an all-in-one social platform where anyone can share their stories, build an audience, and be rewarded, today announced that it will change its ticker symbol to $VOCL.

The decision to change the ticker symbol is part of Creatd's strategy to better reflect its brand and strategic direction, as well as increase visibility and differentiate itself from its competitors. Overall, the change in ticker symbol to VOCL represents an important milestone for Creatd, as the company looks to spin off or sell its current non-core businesses. This will further strengthen its position as a leading technology platform for creators and drive long-term value for its shareholders.

As part of its refocused strategy, the company plans to officially spin off its direct-to-consumer business, Creatd Ventures, which owns brands, Dune, Basis, Camp, and Brave, later this year. This decision follows the already announced spin-off to shareholders of the OG Collection, Inc. The legacy companies will be spun off on blockchain exchanges as special dividends to all $CRTD shareholders of a to be announced record date.

Creatd CEO, Jeremy Frommer, commented, "We are excited to take this next step in the evolution of $CRTD to the future $VOCL. The marketplace and current economic environment make it significantly more valuable for a company to spin off its matured non-core assets, particularly with the advent of blockchain exchanges where the assets can be valued without exposure to manipulation and abusive trading practices. The change will better reflect the company's core brand and strategy and is the first step in changing the company's CUSIP, and creating future corporate actions. Our Vocal platform has been gaining tremendous momentum and has quickly become the primary focus and revenue generator in our portfolio. By focusing our efforts on this platform, we believe we can better serve the needs of our creators and drive long-term value for our shareholders, and reduce operating overhead."

About Creatd

Creatd, Inc. $CRTD is a company with a mission to provide economic opportunities to creators and brands by multiplying the impact of platforms, people, and technology. Creatd's pillars work together to create a flywheel effect, supporting our core vision of creating a viable and safe ecosystem for all stakeholders in the creator economy.

Creatd: https://creatd.com;

Creatd IR: https://investors.creatd.com;

Vocal Platform: https://vocal.media;

Investor Relations Contact: ir@creatd.com 

Forward-Looking Statements

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SOURCE Creatd, Inc.

FAQ

When will Creatd change its ticker symbol to $VOCL?

Creatd plans to change its ticker symbol to $VOCL as part of a strategic initiative.

What is the reason for Creatd's ticker symbol change?

The change is aimed at enhancing brand visibility and differentiating from competitors.

What businesses is Creatd planning to spin off?

Creatd plans to spin off its direct-to-consumer business, Creatd Ventures, and other non-core assets.

How will the spin-off affect Creatd shareholders?

The spin-off will create shareholder value by distributing non-core assets as special dividends.

Who is the CEO of Creatd, and what did he say about the ticker change?

CEO Jeremy Frommer expressed excitement about the ticker change and its strategic implications for the company.