Replies to post #6507 on Branded Legacy Inc (BLEG)

[Equity Reviewer]

There will be no increase in Elev8’s issued and outstanding shares from the distribution of the dividend and the company plans to retire additional shares.”



Kona Gold Solutions, Inc. To Distribute Stock Dividend From Sale of Elev8 Hemp, LLC

ROCKLEDGE, Fla., Feb. 22, 2017 (GLOBE NEWSWIRE) -- Kona Gold Solutions, Inc. (OTC Pink:KGKG), a hemp lifestyle brand of exclusivity and status, is pleased to announce that the Company’s Board of Directors, as well the majority shareholders have consented, to a dividend of approximately 41,296,544 of the Elev8 Brands, Inc. (OTC Pink:VATE) shares of common stock acquired by KGKG in its sale of Elev8 Hemp, LLC to Elev8 Brands, Inc. The record date will be March 31, 2017. Kona Gold Solutions, Inc. shareholders owning common stock, as of the record date will receive 1 share of Elev8 Brands, Inc. (OTC Pink:VATE) stock for every 10 shares of Kona Gold Solutions, Inc. (OTC Pink:KGKG) owned.

The Company would also like to announce that it is on schedule to have its all-new sugar free energy drink produced and on the market next month.

“It took longer than we expected to get to this point, but I am very excited to be announcing the details of the stock dividend from the sale of Elev8 Hemp, LLC,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “Our current and future shareholders should be very excited, knowing that they could become part of two extraordinary companies that we hope will see exponential growth in 2017! The strategic move to spin off assets not part of our core focus, allows us to effectively grow the company for the greater good of our shareholders.”

Ryan Medico, CEO of Elev8 Brands, Inc. said, “This is an exciting time for everyone involved with Elev8 Brands and Kona Gold. These are two growing companies that are poised to do great things in the hemp industry and we have presented a fantastic opportunity for shareholders to potentially be part of both companies. There will be no increase in Elev8’s issued and outstanding shares from the distribution of the dividend and the company plans to retire additional shares.”

Kona Gold will communicate to shareholders by providing future press releases regarding dividend distribution once the record date has passed.