Performance Drink Group Eliminates 1.25 Billion Common Shares and Retirement of Over Seven Million Series A Preferred Shares from the Market, While Launching a Search for Cash Flow Positive Acquisitions

Rhea-AI Summary

Performance Drink Group, Inc. (OTC: PDPG) announced the elimination of over 1.25 billion potential shares, including the retirement of 7,716,219 Series A Preferred shares and 300,000,000 Common shares. This strategic move aims to improve the company’s share structure under new CEO Jeffrey M. Canouse, who emphasizes plans for cash flow-positive acquisitions. Performance Drink Group focuses on sports nutrition and energy drink solutions, with a commitment to enhancing shareholder value through both organic and strategic growth.

Positive

• Elimination of over 1.25 billion potential shares improves share structure.
• Retirement of 7,716,219 Series A Preferred shares enhances financial stability.
• CEO's past success in acquisitions could lead to increased revenue.

Negative

• None.

WHEAT RIDGE, Colo., Jan. 10, 2023 /PRNewswire/ -- Performance Drink Group, Inc. (OTC: PDPG) ("PDPG" or the "Company"), is thrilled to announce the reduction and elimination of over 1.25 BILLION potential shares over hanging the Company.

The Company appointed a new CEO in the fall of 2022 and since then, new management has been working on an acquisition strategy and eliminating billions of potential shares. The first step was to retire 7,716,219 Series A Preferred shares back to the treasury. Phase two was to retire 300,000,00 Common shares from the previous officers of the Company. The final phase was reducing an existing registration by 950,000,000 shares.

The Company plans to aggressively seek cash flow acquisitions while continuing to develop it's beverage line. "I'm really excited about this opportunity with Performance. I have had some success in fixing companies, finding high revenue and cash flow positive acquisitions in the past, but, I have never had such a clean company with a now, very clean share structure to start with. I hope to deliver shareholders tremendous value as we move forward," said Jeffrey M. Canouse, CEO of Performance Drink Group.

About Performance Drink Group

Performance Drink Group is an emerging force in the development, production, and distribution of unique Sports Nutrition and Energy Drink solutions. The company is currently targeting growth in shareholder value through both organic and strategic channels.

For more information, please visit us at Performancedrinkgroup.com.

Forward-Looking Statements

This press release may contain forward-looking statements, including information about management's view of Performance Drink's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Performance Drink, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Performance Drink's future results. The forward-looking statements included in this press release are made only as of the date hereof. Performance Drink cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Performance Drink undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Performance Drink.

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SOURCE Performance Drink Group, Inc.

FAQ

What actions has Performance Drink Group taken regarding its share structure?

Performance Drink Group has eliminated over 1.25 billion potential shares, including the retirement of Series A Preferred shares and Common shares.

Who is the CEO of Performance Drink Group and what are his plans?

Jeffrey M. Canouse is the CEO and aims to pursue cash flow-positive acquisitions while enhancing shareholder value.

What is the significance of the recent share elimination by PDPG?

The elimination aims to streamline the share structure, potentially increasing financial stability and shareholder value.

How many shares were retired by Performance Drink Group?

The company retired 7,716,219 Series A Preferred shares and 300,000,000 Common shares.

What does Performance Drink Group focus on?

The company specializes in developing, producing, and distributing sports nutrition and energy drink solutions.