Greene Concepts Opens and Funds Brokerage Account For Launch of Stock Buyback Program
Greene Concepts, Inc. (OTC Pink: INKW) has initiated a corporate stock buyback and share retirement program, confirmed by the opening of a dedicated brokerage account. The program will adhere to federal regulations, with share buybacks contingent on market variables. Additionally, the company has settled $130,000 in convertible debt without diluting shares, further reinforcing shareholder value. CEO Lenny Greene emphasizes a commitment to enhancing shareholder returns and building the BE WATER™ brand, while also stating intentions for increased revenue and future product launches.
- Initiated a stock buyback program to enhance shareholder value.
- Settled $130,000 in convertible debt without share dilution, strengthening the balance sheet.
- Focus on increasing revenues and expanding the BE WATER brand.
- None.
Marion, North Carolina, Jan. 06, 2022 (GLOBE NEWSWIRE) -- Greene Concepts, Inc. (OTC Pink: INKW) today announced that the Company recently opened and funded a brokerage account in the Company’s name, which will be used as part of a corporate stock buyback and share retirement program. In addition to the buyback program, the Company has also settled convertible debt without share dilution.
After consulting with a securities attorney, Greene Concepts opened the brokerage account to execute on their plan of the corporate stock buyback and share retirement program. Under the program, stock buybacks will be made under very specific, regulated conditions in order to comply with federal securities regulations. The timing and number of shares purchased will depend upon price, market conditions, and several regulated factors. The Company will adhere to the rules and regulations as outlined by the SEC and all other applicable legal requirements.
In addition to the buyback program, Greene Concepts recently settled
Lenny Greene, CEO of Greene Concepts, states, “We are committed to reinforcing the value proposition for our thousands of INKW shareholders. We were able to settle certain short-term toxic, convertible notes, assisting to strengthen the Company’s balance sheet.”
Mr. Greene continues, “In addition toxic debt settlement, our corporate stock buyback and share retirement program will have a number of solid benefits for shareholders and the company alike. The Company will continue to focus on building premium brands and increasing revenues throughout 2022 and beyond. Stay tuned for exciting upcoming information about new product releases and Company growth opportunities.”
About Greene Concepts, Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company whose purpose is to provide the world with high-quality, healthy and enhanced beverage choices that meet the nutritional needs of its consumers while refreshing their mind, body and spirit. The Company’s flagship product, BE WATER, is a premium artesian bottled water that supports total body health and wellness. Greene Concepts’ beverage and bottling plant is located in Marion, North Carolina, and their water is ethically sourced from seven spring and artesian wells that are fed from a natural aquifer located deep beneath the Blue Ridge Mountains. Greene Concepts continues to develop and market premium beverage brands designed to enhance the daily lives of consumers.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a few uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events or otherwise.
CONTACT:
Greene Concepts, Inc.
Investor Relations
IR@greeneconcepts.com
Attachments
FAQ
What is the purpose of Greene Concepts' stock buyback program?
How much convertible debt did Greene Concepts settle?
How will the stock buyback impact INKW's share price?
What brand is Greene Concepts focusing on for growth?
When was the stock buyback program announced?
