Scandia Inc. Announces Plans to Reduce Its Authorized Shares From 20 Billion To 500 Million
Scandia (OTC: SDNI) announced plans to reduce its authorized shares from 20 billion to 500 million, resulting in a more sustainable share structure. The company has repaid its initial loan to Emerald Coast Investments, reclaiming 860 million shares, lowering its outstanding shares to 71,189,628. Scandia, through its subsidiary Xtreme Organics, focuses on organic CBD supplements designed for extreme sports athletes. CEO Jamie Allen emphasized this reduction as a strategic move to foster growth opportunities for both Scandia and Xtreme Organics.
- Reduction of authorized shares from 20 billion to 500 million enhances share structure sustainability.
- Paid off initial loan, reclaiming 860 million shares, resulting in outstanding shares totaling 71,189,628.
- Focus on organic CBD supplements aligns with growing market demand for health products.
- None.
RALEIGH, N.C., June 16, 2021 /PRNewswire/ - Scandia Inc. (OTC: SDNI), parent company of Xtreme Organics, announced today a plan to reduce its authorized shares from 20 billion to 500 million. In conjunction with this announcement, SDNI has paid off its initial loan from Emerald Coast Investments (ECI) and will therefore get back from ECI 860 million shares which means its outstanding shares will now total 71,189,628.
Xtreme Organics makes hydration, energy and recovery products for extreme lifestyles, and have been working extensively with Xtreme Fighting Championships and its fighters in the development of their cutting-edge products, as well as with athletes from the world of MotoX, Supercross, FMX, ArenaCross, skate, surf and snow.
Scandia CEO Jamie Allen: "This plan to reduce our share count was the first step of many to provide additional growth opportunities to Scandia and Xtreme Organics. We believe this reduced authorized share count is now at a more sustainable level."
About Xtreme Organics Inc.
Xtreme Organics, Inc. (A subsidiary of Scandia Inc.) is a manufacturer and distributor of organic CBD supplements developed by a team of bioscientists, doctors and world-renowned personal trainers, in cooperation with extreme sports athletes from MMA, MotoX, FMX, snow, skate, and surf. We take pride in the fact that athletes trust us to provide them with the CBN, CBC and CBG Dietary Supplements they need to Out-Perform, Out-Last, and Recover Faster than their competition. Xtreme Organics products help athletes combat their No. 1 enemy, inflammation. We spent over five years growing, testing, and developing industry-leading best practices for USDA Certified Organic Hemp before we made a single supplement. Unlike other CBG companies, we only use USDA Certified organic hemp grown on our farms in all of our products. Xtreme Organics is a proud sponsor of XFCMMA! www.xtrmemeorganic.com
About Scandia Inc. SDNI
Scandia Inc. has historically been focused on Home Health Care Services. The company continues to review new opportunities in the Home Health Care sector but no markets are currently being serviced as that line of business is still in its development stage. In 2018 the company began actively reviewing opportunities in the Medicinal Chemicals and Botanical Products sector and the Pharmaceutical Preparations sector. In 2019 Scandia acquired shares in Xtreme Organics Inc. The company focuses on creating USDA certified organic Hemp Health Supplements, CBG Sports Waters, and CBG Energy Drinks for Xtreme Sports Athletes. www.xtremeorganic.com Scandia continues to actively review additional opportunities in the areas of Pharmaceutical Preparations and Medicinal Chemicals and Botanical Products and is currently servicing the US market with plans for expansion into Canada and Latin America with its consumer brand Xtreme Organics and their Hydro, Boost and Amplified Products.
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SOURCE Scandia Inc.
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