Varok, see below re: Line of Credit
Branded Legacy, Inc. Secures $1M Line of Credit, Affirms No Reverse Split, and Previews Upcoming Investor Engagements
November 07 2023 - 7:02AM
Branded Legacy strengthens financial stability with a new line of credit and commits to enhancing shareholder value by avoiding a reverse stock split.
Melbourne, FL -- November 7, 2023 -- InvestorsHub NewsWire -- Branded Legacy, Inc (OTC.PK: BLEG), a biotechnology holdings company, has secured a $1M line of credit under a fixed interest rate, underscoring its commitment to strategic growth without shareholder dilution. This financial maneuver is aligned with the company's disciplined approach to expansion and reflects confidence in its operational and fiscal policies.
Dave Oswald, CEO of Branded Legacy, affirms, "This line of credit is pivotal, providing us with the flexibility to advance our operations and affirming our commitment to maintaining shareholder value. It's a strategic choice that supports our growth ambitions while preserving our corporate integrity."
In its ongoing efforts to enhance shareholder value, Branded Legacy has retired 1.6 billion shares and reduced its preferred classes to three. Independent Director Steven Augustine emphasizes the leadership's pledge to shareholder alignment, stating, "Our team is resolutely invested in Branded Legacy's future, evidenced by our unanimous decision against share liquidation, further securing our collective long-term interests
In line with these developments, Branded Legacy is excited to announce plans for an open house at its expansive 11,000 square-foot facility, providing an opportunity to experience the company's operations up close. Details will be released in the coming weeks.
Additionally, the investor packet, previously mentioned in the last teleconference, is nearing completion after thorough review by the finance team and consideration of recent acquisitions.
Dates and schedules are being aligned for the next investor tele-conference, slated for Q4, which will provide an in-depth update on the company's direction and initiatives.
Reflecting on our last communication, we not only shared the retirement of 1.6 billion common shares but also our ongoing efforts to enhance shareholder value. Today's announcement of securing a $1M credit line, coupled with our commitment to a stable share structure and executive alignment with shareholder interests, underscores our dedication to a prosperous future for Branded Legacy.
