Branded Legacy, Inc. ($BLEG) Announces Reduction in Authorized Share Count to 900M

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Jan 23, 2024, 08:44 ET

In a strategic move to align with its capital structure and business objectives, Branded Legacy, Inc. reduces its authorized share count by 600 million.

MELBOURNE, Fla., Jan. 23, 2024 /PRNewswire/ -- Branded Legacy Inc., (OTC.PK: BLEG), a holdings corporation invested in biotechnical research, has officially announced a significant reduction in its authorized share count from 1.5 billion to 900 million in common shares. This decision, made by the Board of Directors, reflects the company's commitment to aligning its capital structure with its current and anticipated business objectives.

The resolution, which passed on January 9th, 2024 and took effect on January 22nd, is seen as a strategic move to streamline the company's share structure making it more attractive and manageable for current and potential investors. The reduction is expected to enhance shareholder value and reflects the company's confidence in its future growth and profitability.

"This decision reflects our commitment to prudent financial management and a focus on creating sustainable value for our shareholders. By streamlining our share structure, we believe we are better positioned to capitalize on future opportunities, drive innovation, and deliver strong returns," said David Oswald, CEO.

The company has taken all necessary steps to effectuate this reduction, including filing the necessary documents with regulatory authorities, amending the company's articles of incorporation, and updating corporate records. This change is also reflected in the company's stock ledger.

This resolution is part of Branded Legacy Inc.'s ongoing efforts to enhance corporate governance and operational efficiency. The company remains focused on its mission to deliver innovative solutions and drive value for its stakeholders.

In addition, Branded Legacy has released the following letter from CEO David Oswald:

In 2024, Branded Legacy, Inc. will blaze a new path toward growth and success. The past year saw many changes within this organization, including an entirely new management team. During this time we modified our share structure by retiring 2.4 billion common shares, and reduced our authorized share count by 1.5 billion. Our team initiated a name change to Royal Enterprises Inc, which we expect to take effect early in the new year. We spent the last half of 2023 reorganizing, and positioning ourselves to generate revenue with significant profit margins. Now, at the beginning of the first quarter, we see the results of our efforts paying off.

To continue reading: Branded Legacy letter from CEO.

About Branded Legacy Inc.

Branded Legacy Inc. (OTC.PK:BLEG) is a forward-thinking holdings biotechnology company dedicated to driving innovation in plant-derived medicines and biotechnological breakthroughs. The company's strategic partnerships and milestone achievements highlight its dedication to transforming patient care and contributing to the advancement of healthcare solutions.

To view the original version on Branded Legacy Inc.'s website, visit Branded Legacy's News.

Investor Relations & Media Contact

Joe Holladay
Branded Legacy
Phone: 321-345-3565
Email: [email protected]

Website: https://brandedlegacy.com/

Safe Harbor Statement on Forward-Looking Language:

This release includes forward-looking statements, which are based on certain assumptions and reflect management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, includes codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. Dilution, if any, would be for the purposes of management taking stock in lieu of cash salary. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, this press release that is not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future.

SOURCE Branded Legacy Inc.