Eliminates 23% of Issued and Outstanding to Improve Capital Structure
Orlando, FL, August 09, 2022 — McapMediaWire— Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of hemp and cannabinoid-infused beverages, along with an array of CBD topicals and tinctures is pleased to announce it has reduced its issued and outstanding common shares by One Hundred and Two Million (102,000,000) shares.
The Company is focused on tightening its share structure in 2022. To achieve this goal, the Company has negotiated exchange agreements with previous employees to eliminate 23% of its issued and outstanding shares.
Jermain Strong, Branded Legacy, Inc.’s CEO, concluded, “We are doing everything in our power to get this Company growing. We are diligently working to improve our share structure for our current and future shareholders. This 102 million share reduction lowers the issued and outstanding by over 23% to 336,982,816. We feel like we are moving in a great direction. The Board is also discussing a share buyback program to help improve shareholder value”
Branded Legacy, Inc. is also working on an additional Eighty Million (80,000,000) plus shares of Common Stock to cancel.
The Exchange Agreements will be posted on the OTC Markets, Inc. website under the Company’s disclosure section and titled supplemental information.
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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 conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing 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.