Branded Legacy Inc. (OTCMKTS:BLEG), on August 26, 2022, announced its partnership with Treezee Smoke Shop and CBD Marketplace. Treezee is the first and only marketplace for smoke shops and CBD products, offering fast, reliable shipping straight to your door. All products are shipped from some of the most trusted smoke shops and CBD businesses in the United States. All CBD products on Treezee will have certifications (COAs) and are tested & safe.
Trading Data
On Friday, BLEG stock rose 20% to $0.0180 with more than 1.53 million shares traded, compared to volume of 427.31K shares. The stock moved within a range of $0.0155 – 0.0190 after opening trading at $0.0155.
Branded Legacy, Inc. Announces Partnership With Treezee Smoke Shop & CBD Marketplace
Brandon Spikes, chairman of Branded Legacy, Inc., has commented that they are improving their footprint regularly. The collaboration with Treezee is just another avenue to get the products to a larger audience. This is a very beneficial partnership transpiring that will take them to new levels while boosting exposure.
Key Quote
Brandon Spikes, chairman of Branded Legacy, Inc., stated, “We are improving our footprint daily. This partnership with Treezee is just another avenue to get our products out there to a larger audience. We see a very beneficial partnership transpiring that will help take us to new levels and help maximize exposure for our products.”
Branded Legacy, Inc. Board Of Directors Approves Reducing Authorized Common Shares By 300 Million
On August 22, 2022, the company announced the Board of Directors’ approval to reduce its authorized shares by three hundred million. It expects to have consent from majority shareholders soon but has already received board approval for the reduction in its authorized shares. The reduction will bring the Authorized Common Shares down to six hundred million.
The Company has been working to improve its share structure as well as increase its shareholder value through many transactions such as reducing its debt as well as reducing the amount of issued and outstanding common shares. It has reduced its liabilities by four hundred and thirty-six thousand one hundred and nineteen dollars ($436,119) in 2022 and has reduced its issued and outstanding common shares by two hundred and two million (202,000,000) in the month of August. This brings the current issued and outstanding shares down to 236,982,816.
Technical Data
BLEG stock is trading above the 20-Day and 50-Day Moving averages of $0.0178 and $0.0180 respectively. However, the stock is trading below the 200-Day moving average of $0.0315. The company has a total market capitalization of $7.90 million.
