Rocky Mountain High Brands Announces Retirement of Shares
GlobeNewswire•March 20, 2017
DALLAS, March 20, 2017 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (RMHB), a fully reporting consumer goods company specializing in hemp-infused food and beverage products and a naturally high alkaline water, announced today that the Officers and Directors are voluntarily returning 25,000,000 shares of the Company’s Common Stock to the Treasury.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, Inc., said, “As part of our commitment to our Company and its shareholders, the Officers and Directors of Rocky Mountain High Brands are voluntarily surrendering 25,000,000 shares of Common Stock to the Company’s Treasury. In exchange, the Company has established a qualified stock plan known as the Company’s 2017 Incentive Plan. These actions will take these shares out of the market while the Company is in a critical expansion mode.”
Welch continued, “With the recent announcement by the Company of the planned acquisition of the former Catskill Mountain resort facility in upstate New York, as well as other potential acquisitions that the Company is currently reviewing with LSW Holdings, LLC, we have found it necessary to restructure both our common and preferred stock. Later today, we will file an Information Statement on Schedule 14C with the SEC announcing the increase in the number of authorized shares of preferred stock to 20,000,000 and common stock to 950,000,000. These increases are necessary for establishing strategic relationships with corporate partners and acquiring or investing in complementary businesses or products. It is important to note that the Company has no plans to reverse the stock and, in fact, has plans to expand the shareholder base world-wide.”