Transaction Will Result in a Dividend to All Current Shareholders
Orlando, FL, Oct. 17, 2022 (GLOBE NEWSWIRE) -- Branded Legacy, Inc. (OTCQB: BLEG), a holding company focused on the commercial development of cannabinoid-infused products from CBD topicals and tinctures to edibles is pleased to announce it has signed a letter of intent to sell Elev8 Hemp, LLC to Apple Rush Co., Inc. (OTC Pink: APRU).
Both companies will proceed in good faith to engage in negotiations to agree upon and execute the agreement encompassing the salient points of this LOI. Both companies have agreed to perform all necessary due diligence during the Thirty (30) business day period following the execution of the LOI.
Elev8 Hemp is a wholly owned subsidiary of Branded Legacy, Inc. that makes hemp and CBD coffees and teas. They were founded in 2016 the launch of its first hemp coffee made of Guatemalan, Colombian and Brazilian beans. They have since grown into multiple flavors of hemp coffee, expanded into hemp tea, and launched a CBD infused whole bean coffee. As part of the transaction, Branded Legacy shareholders will be receiving a dividend from the shares of Apple Rush Co., Inc. (OTC Pink: APRU) used to purchase Elev8 Hemp, LLC.
Tony Torgerud, CEO of Apple Rush Co., Inc. stated, “We believe Elev8 Hemp has a strong brand that we can further develop. With our ability to handle much of the work in house, I believe we can really expand this coffee brand into many flavors, many CBD dosages, non hemp and CBD coffees, and even expand into kratom coffee.”
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “With Apple Rush Co. now providing Delta-8 tinctures for us, the conversation came up about Elev8 Hemp. A few weeks later and here we are. As we have developed our CBD line through Spikes CBDX and recent acquisitions, we feel that Apple Rush will have great success in further development of Elev8 Hemp.”
Previously the Company put out a press release that it will be holding an open house on Friday October 21, 2022, from 10:00 am to 12:00 pm. The open house will be held at its newly acquired hemp farm, Alpha Growers, LLC. The address is 14260 W Newberry Rd #122, Newberry, FL 32669. All current and future shareholders are welcome to attend.
About Spikes CBDX: Spikes CBDX is a line of CBD products designed to assist athletes perform better and recover faster. The Company believes that post workout recovery, with Spikes CBDX products, can lower inflammation, aid in making your body stronger, and help recover from injuries naturally. The CBD line also targets individuals who are looking for pain relief, better sleep, faster recovery and lowering inflammation. Spikes CBDX provides tinctures, lotions, moisturizer, and cryo-gel roll-ons. To view all the Spikes CBDX products please visit: spikescbdx.com.
About Elev8 Hemp: Elev8 Hemp’s mission is simple: craft the highest-quality, organic hemp products for consumers in search of a healthier, happier lifestyle. Everyone needs to get the proper number of healthy proteins to keep them feeling better and more energetic. We source only the best organic hemp protein powders—naturally full of powerhouse amino acids and Omegas-3, 6, and 9—so we can infuse your daily coffee and tea with an abundance of minerals, vitamins, antioxidants, and fiber. www.elev8hemp.com
About Versatile Industries: Versatile Industries, LLC is an acquisition company used to incubate companies to eventually spin off into their own public vehicles. Currently owns patent for a sports training assembly called The Quickness, a solar and water treatment company Magic 1 Promotions h2oandsolarsolutions.com, LLC and Astound NMN. By supplementing NMN it helps maintain NAD+ levels, ultimately slowing the effects of aging. www.astoundnmn.com
Safe Harbor Statement:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company's control.