Branded Legacy, Inc. ($BLEG) Retires Additional 442 Million Common Shares, Surpassing Initial Commitment
MELBOURNE, Fla., Jan. 02, 2024 (GLOBE NEWSWIRE) — Branded Legacy (OTC: BLEG) has demonstrated its unwavering commitment to its shareholders and future growth by announcing the retirement of an additional 442 million common shares. This retirement surpasses the company’s initial commitment, amounting to a remarkable total of 2.44 billion shares retired. The move emphasizes Branded Legacy’s dedication to responsible corporate governance and transparent communication with its investors.
As a result of these retirements, the management team now holds no common stock, symbolizing their alignment with the best interests of the shareholders. This decision to retire additional common shares is a testament to Branded Legacy’s financial prudence and confidence in its current position and future prospects. Notably, the company has executed this initiative without resorting to a reverse split, reinforcing its commitment to maintaining shareholder equity and market integrity. Furthermore, Branded Legacy assures shareholders that there will be no reverse splits or liquidation of preferred series shares in the foreseeable future.
CEO David Oswald expressed pride in the retirement of the additional 442 million common shares, stating, This strategic move reflects our confidence in the company’s trajectory and our unwavering commitment to transparency and responsible corporate governance.
The retirements not only demonstrate Branded Legacy’s commitment to stability and growth but also instill confidence and assurance in the company’s long-term vision among shareholders. By having no foreseeable liquidation plans on the horizon, Branded Legacy further solidifies its position as a reliable and forward-thinking company.
In other news, Branded Legacy has recently decided to withdraw from acquisition negotiations with a large-scale manufacturer in Ft. Lauderdale, Florida. CEO David Oswald explained the decision by stating, After nearly two months of negotiations, we believed we had reached a deal that everyone could be happy about. Unfortunately, during our examination of the company’s assets and liabilities, we uncovered several issues that the seller attempted to hide during negotiations. As excited as we were to add several million dollars’ worth of assets to our portfolio, we are not willing to close a deal that isn’t rock solid. This move reflects the company’s commitment to financial responsibility and prioritizing long-term success over short-term optics.
On a positive note, Branded Legacy recently announced the successful acquisition of MariJ Pharmaceuticals, Inc. This acquisition, valued at over $1,000,000, includes USDA organic certifications, state-of-the-art equipment, a multi-vehicle fleet, multi-state licensing, award-winning products, and a patent, among a multitude of inventory and assets. This acquisition significantly expands Branded Legacy’s portfolio and capabilities, demonstrating its commitment to growth and innovation in the biotech sector. The acquisition was made at a substantial value, providing the company with significant assets at a fraction of their actual worth.
Branded Legacy, Inc. (OTC: BLEG) is a diversified holdings company with a focus on the biotech sector. The company specializes in the development and marketing of cutting-edge products and services, including ventures in biotechnology, digital solutions, and wellness products. By identifying and integrating promising businesses and technologies, Branded Legacy aims to deliver sustainable, high-quality products and services that enhance the quality of life for its customers.
For more information, please visit: https://brandedlegacy.com/news/
Safe Harbor Statement on Forward-Looking Language:
This news article contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations or beliefs of the company’s management and are subject to a variety of factors, risks, and uncertainties that could cause actual events or results to differ materially from those described in the forward-looking statements.
