Orlando, FL, Aug. 22, 2022 (GLOBE NEWSWIRE) — Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of cannabinoid-infused products from CBD topicals and tinctures to announce edibles is pleased to the Board of Directors approval to reduce its authorized shares by Three Hundred Million (300,000,000).
Branded Legacy, Inc. Expects to receive majority shareholder consent soon, but has already received board approval for the reduction in its authorized shares. The reduction will bring the Authorized Common Shares down to Six Hundred Million (600,000,000).
The Company has been working to improve its share structure as well as increase its shareholder value through many transactions such as reducing its debt as well as reducing the amount of issued and outstanding common shares. The Company has lowered its liabilities by Four Hundred and Thirty-Six Thousand One Hundred and Nineteen dollars ($436,119) in 2022 and has its issued and outstanding common shares reduced by Two Hundred and Two Million (202,000,000) in the month of August. This brings the current issued and outstanding shares down to 236,982,816.
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “I couldn’t be more pleased with the progress that we’ve made. Our shareholders are very important to us, and we are diligently working to ensure the success of this Company.”
The Company recently posted on OTC Markets, supplemental information regarding the reduction of liabilities as well as the exchange agreements lowering the issued and outstanding common shares. All information can be found here: https://www.otcmarkets.com/stock/BLEG/disclosure
About Spikes CBDX: Spikes CBDX is a line of CBD products designed to assist athletes perform better, recover faster, and avoid injuries. The Company believes that post workout recovery, with Spikes CBDX products, can lower inflammation, aid in making your body stronger, and help recover from injuries naturally. The CBD line also targets individuals who are looking for pain relief, better sleep, faster recovery and lowering inflammation. Spikes CBDX provides tinctures, lotions, moisturizer, and cryo-gel roll-ons. To view all the Spikes CBDX products please visit: spikescbdx.com.
About Elev8 Hemp: Elev8 Hemp’s mission is simple: craft the highest-quality, organic hemp products for consumers in search of a healthier, happier lifestyle. Everyone needs to get the proper amount of healthy proteins to keep them feeling better and more energetic. We source only the best organic hemp protein powders—naturally full of powerhouse amino acids and Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with an abundance of minerals, vitamins, antioxidants, and fibre. www.elev8hemp.com
About Versatile Industries: Versatile Industries, LLC is an acquisition company used to incubate companies to eventually spin off into their own public vehicles. Currently owns patent for a sports training assembly called The Quickness. Company also owns Astound NMN. By supplementing NMN helps maintain NAD+ levels, ultimately slowing the effects of aging. www.astoundnmn.com
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words “may,” “will,” “should,” “plans ,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in conditions of various engineering and manufacturing programs, changes in customer order Patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control.