Melbourne FL, (1/2/2024) — Branded Legacy is further highlighting their commitment to shareholders and future growth, by announcing the final retirement of an additional 442 million common shares, bringing the total shares retired to an extraordinary 2.44 billion. This action surpasses the initial commitment and signifies management’s unwavering dedication to shareholder value.
This development underscores Branded Legacy’s commitment to responsible corporate governance and transparent communication with its investors. Notably, the retirements have resulted in management now owning zero common stock, aligning the company’s leadership with the best interests of its shareholders.
The decision to retire an additional 442 million common shares is a testament to Branded Legacy’s financial prudence and a reflection of the company’s confidence in its current position and future prospects. Importantly, this initiative has been executed without resorting to a reverse split, demonstrating Branded Legacy’s commitment to maintaining shareholder equity and market integrity. The Branded Legacy team further reaffirms that there will be no reverse splits in the foreseeable future, nor will there be any liquidation of preferred series shares.
“We are proud to announce the retirement of an additional 442 million common shares, surpassing our initial commitment and reaffirming our dedication to shareholder value,” said CEO David Oswald. “This strategic move reflects our confidence in the company’s trajectory and our unwavering commitment to transparency and responsible corporate governance.”
The retirement of these shares also signals that Branded Legacy is well-positioned for the future, with no foreseeable liquidation plans on the horizon. This commitment to stability and growth provides shareholders with confidence and assurance in the company’s long-term vision.
In other company news, Branded Legacy has pulled out of acquisition negotiations with a large scale manufacturer in Ft. Lauderdale, FL. In a statement regarding the termination of the acquisition process, CEO David Oswald commented, “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 reinforces Branded Legacy’s commitment to financial responsibility, and their willingness to prioritize long term success over short term optics.
In the company’s recent major news, it announced the successful acquisition of MariJ Pharmaceuticals, Inc. This acquisition, valued at well over $1,000,000, included 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 has significantly expanded the company’s portfolio and capabilities, demonstrating commitment to growth and innovation in the biotech sector, all acquired at pennies on the dollar.