It has been a huge year for shareholders of BlockChain Loyalty Corp (OTCMKTS:BBLC) as the stock has witnessed a massive rally of 3900% so far in the month of February. Moreover, the rally was supported by increased volume, signaling strong momentum for the stock.
BlockChain Loyalty Corp. Announces New Business Direction with Marianna Naturals Corp.
The decline in the stock came about after the company announced yesterday that it had inked a stock exchange agreement back on February 8, 2023, with Marianna Naturals Corp and went on to add that the transaction would bring an exciting business under the BlockChain Loyalty Corpfold. Marianna Naturals is a completely natural and genderless skincare brand that has been endorsed by celebrities. It had been incorporated in Canada and spun from Beauty Kitchen, which remains a significantly successful United States-based brand.
BlockChain Loyalty Corp would issue as many as 47,636,699 shares from its treasure to shareholders and consultants of Marianna Naturals so as to get its hands on the entirety of the outstanding common stock. Once the transaction is completed, BlockChain Loyalty Corp would have control of as many as 65,042,699 common outstanding shares.
Once the transaction is completed, the company is going to be involved in an active business and would no longer fall under the category of a ‘shell’ entity.
