Performance Drink Group Eliminates 1.25 Billion Common Shares and Retirement of Over Seven Million Series A Preferred Shares from the Market, While Launching a Search for Cash Flow Positive Acquisitions
The Company appointed a new CEO in the fall of 2022 and since then, new management has been working on an acquisition strategy and eliminating billions of potential shares.
WHEAT RIDGE, Colo., Jan. 10, 2023 /PRNewswire/ -- Performance Drink Group, Inc. (OTC: PDPG) ("PDPG" or the "Company"), is thrilled to announce the reduction and elimination of over 1.25 BILLION potential shares over hanging the Company.
The Company appointed a new CEO in the fall of 2022 and since then, new management has been working on an acquisition strategy and eliminating billions of potential shares. The first step was to retire 7,716,219 Series A Preferred shares back to the treasury. Phase two was to retire 300,000,00 Common shares from the previous officers of the Company. The final phase was reducing an existing registration by 950,000,000 shares.
The Company plans to aggressively seek cash flow acquisitions while continuing to develop it's beverage line. "I'm really excited about this opportunity with Performance. I have had some success in fixing companies, finding high revenue and cash flow positive acquisitions in the past, but, I have never had such a clean company with a now, very clean share structure to start with. I hope to deliver shareholders tremendous value as we move forward," said Jeffrey M. Canouse, CEO of Performance Drink Group.
About Performance Drink Group
Performance Drink Group is an emerging force in the development, production, and distribution of unique Sports Nutrition and Energy Drink solutions. The company is currently targeting growth in shareholder value through both organic and strategic channels.
For more information, please visit us at Performancedrinkgroup.com.
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of Performance Drink's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Performance Drink, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Performance Drink's future results. The forward-looking statements included in this press release are made only as of the date hereof. Performance Drink cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Performance Drink undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Performance Drink.
Home / Twitter
[email protected]
www.performancedrinkgroup.com
View original content:SOURCE Performance Drink Group, Inc.
