Gridiron BioNutrients Repurchases over 77.5 Million Shares of Its Common Stock
6:16 am ET February 13, 2020 (Newsfile) Print
Scottsdale, Arizona--(Newsfile Corp. - February 13, 2020) - Gridiron BioNutrientsT (OTCQB: GMVP), announces it has completed the repurchase of 77,872,500 shares that represented 51% of the total issued and outstanding shares of common stock.
Tim Orr, President of Gridiron BioNutrients stated, "Gridiron recently executed a Stock Purchase Agreement to purchase 77,872,500 shares of common stock of the Company for an aggregate purchase price of $80,000. The Company will return the 77,872,500 shares of common stock back to the authorized capital stock of the Company. The result of this buyback leaves Gridiron with approximately 66,116,720 shares issued and outstanding; this significant reduction of issued and outstanding stock shows the commitment Gridiron has to improving shareholder value as we continue to develop our business within the CBD Oil extraction and processing space."
About Gridiron BioNutrientsT
Gridiron is in the CBD space with and has had a focused on the development and commercialization of high-quality innovative CBD products within the health and wellness marketplace. Gridiron strives to formulate and design products that maximize the human body's potential enabling individuals to heal faster, train longer and recover quicker.
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Safe Harbor Statement
Except for historical information contained herein, statements in this release may be forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to Gridiron BioNutrients Inc. (the "Company") or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the Company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in the Company's filings with the Securities and Exchange Commission. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as (i) the development and protection of our brands and other intellectual property, (ii) the need to raise capital to meet business requirements, (iii) significant fluctuations in marketing expenses, (iv) the ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of our products and services, (v) the Company's ability to conduct the business if there are changes in laws, regulations, or government policies related to cannabis, (vi) management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and (vii) other information that may be detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Gridiron BioNutrients, Inc.
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