Branded Legacy Signs Letter of Intent to Acquire $6 Million in Assets and Additional Facility Space
Nov 16, 2023 | News
Strategic Collaboration Aims to Enhance Market Position and Expand Capabilities
Melbourne, FL — November 16th, 2023 — Branded Legacy, Inc (OTC.PK: BLEG), a company renowned for its dynamic approach in the biotechnology and digital solutions sectors, today announced the signing of a letter of acquisition with a Florida-based company, yet to be named. The agreement, which is subject to a detailed 40-day due diligence process, marks a significant step in Branded Legacy’s strategic expansion, potentially adding approximately $6 million in assets to its portfolio for refinement, co-packing, and more.
Elements of this acquisition include a large-scale CO2 based extraction unit, a multi-faceted refinement lab, a C1D1 certified synthesis unit, and 2 fully automated gummy manufacturing units. Additionally, the facility is fully inspected, permitted, and ready for operation.
This newly forming partnership represents a significant opportunity for Branded Legacy to expand its abilities and market reach, particularly in the B2B sector. This initial phase, marked by the signing of a letter of intent and the establishment of an agreed upon timeline, sets the stage for comprehensive due diligence efforts and the validation of potential revenue growth opportunities.
Dave Oswald, CEO of Branded Legacy, commented on the intricacies and potential of this agreement: “This purchase is more than an acquisition; it’s a strategic move towards future growth and market leadership. This is a very complex arrangement, and willhave an extended period of due diligence totaling 40 days. This is to ensure that every aspect of this purchase aligns directly with our needs and goals. We plan on utilizing this opportunity to build significant milestones, leveraging our strengths in branding and growth to unlock new opportunities.”
Mr. Oswald adds: “We willpublicly disclose all aspects of this contract, and pledge to do so with all contracts moving forward as a gesture of transparency and accountability by our management team and directors. Regarding shares, any issued as part of this agreement willbe of a preferred class, so that there willbe no dilution of common shares”, aligning with the company’s stated commitments to transparency and shareholder investments in the company. This undertaking willsupport Branded Legacy with economies of scale, giving the company much needed breathing room in terms of throughput, as they focus on continuing to secure contracts for extraction and co-packing services , further solidifying the relationships between ourselves and our industry partners.
Additionally, we would like to announce the release of a comprehensive investor packet, including detailed financial projections as well as information on products and services. The packet will be available for download on our website at BrandedLegacy.com/investor-packet.
In our previous announcement, we highlighted the significant milestone of securing a $1M line of credit, a testament to our financial discipline and strategic foresight. This move was a part of our ongoing efforts to grow and expand without diluting shareholder equity, demonstrating our commitment to prudent financial management. As we explore this new partnership with this company, we continue to build on their foundations, aiming to create even more value for our shareholders and stakeholders.
