Greene Concepts opens and funds brokerage account to launch share buyback program
$ INKW – Greene Concepts – BE WATER
BE FRESH with American Artesian Water – 6pack
$ INKW – Greene Concepts – BE WATER
BE USA – PROUD with American Artesian Water – 6pack
Marion, North Carolina, January 06, 2022 (GLOBE NEWSWIRE) – Greene Concepts, Inc. (OTC Pink: INKW) today announced that the Company has recently opened and funded a brokerage account in the name of the Company, which will be used as part of a company’s share buyback and share withdrawal program. In addition to the buyback program, the Company has also settled the convertible debt without dilution of the shares.
After consulting with a securities attorney, Greene Concepts opened the brokerage account to execute their company’s stock buyback and buyout program plan. As part of the program, share buybacks will be carried out under very specific and regulated conditions in order to comply with federal securities regulations. The timing and number of shares purchased will depend on price, market conditions and several regulated factors. The Company will comply with the rules and regulations described by the SEC and all other applicable legal requirements.
In addition to the buyback program, Greene Concepts recently settled $ 130,000 in convertible debt without issuance of shares. The settlement was in exchange for a partial unit of branded units of products previously announced by the Company. The transaction is based on a long-term commitment to the success and growth of the Company’s BE WATER â¢ brand. This transaction had no dilutive effect for the shareholders.
Lenny Greene, CEO of Greene Concepts, said: âWe are committed to strengthening the value proposition for our thousands of INKW shareholders. We were able to settle certain toxic short-term convertible notes, thereby helping to strengthen the Company’s balance sheet.
Mr. Greene continues, âIn addition to toxic debt settlement, our corporate share buyback and retirement program will have a number of solid benefits for shareholders and the company. The company will continue to focus on building premium brands and increasing revenues through 2022 and beyond. Stay tuned for exciting upcoming information on new product releases and business growth opportunities.
About Greene Concepts, Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company dedicated to providing the world with high quality, healthy and improved drink choices that meet the nutritional needs of its consumers while refreshing their mind, body and spirit. The Company’s flagship product, EITHER WATER, is a premium artesian bottled water that promotes the health and well-being of the body. Greene Concepts’ beverage and bottling plant is located in Marion, NC, and their water is ethically sourced from seven spring and artesian wells fed by a natural aquifer deep beneath the Blue Ridge Mountains. Greene Concepts continues to develop and market premium beverage brands designed to improve the daily lives of consumers.
Safe Harbor: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to certain uncertainties and risks which could significantly affect the current plans and expectations of the company, as well as the future operating results and financial condition. A more complete list of the risks and factors that could affect the Company’s business prospects and cause actual results to differ materially from those described in forward-looking statements can be found in the reports and other documents filed by the Company. with the Securities and Exchange Commission. and OTC Markets, Inc. OTC Disclosure and Information Service. The company assumes no obligation to publicly update or revise any forward-looking statements, as a result of new information, future events or otherwise.
Greene Concepts, Inc.