SANTA MONICA, CA--(Marketwired - Oct 4, 2017) - OLIVEDA International, Inc. (
Responding to the change, Thomas Lommel, Chairman and CEO of OLIVEDA International, Inc., commented, "According to a representative of OTC Markets Group, which operates OTCMarkets.com, some sort of promotional campaign was initiated using OLIVEDA's stock symbol. OTC Markets recently became aware of the promotional activity and changed OLVI's status to 'Caveat Emptor.' In an email received by the company, OTC Markets cited 'news releases, spam email, and newsletters, whether published by the issuer or a third party,' as the type of promotional/spam activity that could trigger the Caveat Emptor designation.
"First, we would like to assure our stockholders unequivocally that neither the company nor any member of its management team initiated or participated in any promotion or awareness program for OLVI stock. Furthermore, neither the company nor any member of its management team authorized any 3 rd party to engage in any promotion or awareness program on the company's behalf.
"Until today, no press releases, email, newsletters -- no information of any kind -- was distributed by OLVI or authorized to be distributed by any 3 rd party on behalf of OLVI since the company's last press release, issued on June 30, 2017. The only distribution used for the June 30 press release and all previous company press releases, since the current management team was appointed, was via the newswire with no promotional or spam distribution whatsoever.
"Needless to say, we are frustrated by what we believe to be an incorrect change in our status on the OTC Markets and the resulting loss in value suffered by our stockholders. The company fully respects OTC Markets' desire to protect investors, and we have informed OTC Markets that there was no promotion or awareness program undertaken or authorized by the company, but we do not know how long it will take for our status to be properly restored. Management is committed to assisting OTC Markets as they verify these facts and will provide whatever information is requested as part of their inquiry.
"While we ask for patience from our shareholders, we also want them to know that OLVI intends to employ only the best and legal practices of public company communications as we move forward to articulate the company's activities, progress and milestones. We believe that the company's future is bright and this is just a temporary inconvenience.
"We plan to update shareholders when more specific information and timelines are known."
OLIVEDA International Inc. OLIVEDA International, Inc. (OLIVEDA) is a leading international natural cosmetic innovator. In 2003, German real estate investor Thomas Lommel founded OLIVEDA, and in 2015, the company developed its Olive Tree Pharmacy store concept. With stores currently operating in Berlin, Düsseldorf and Taipei, the company is planning the opening of its first U.S. store in Los Angeles. Overall, the company believes it is positioned to operate an additional 20 stores, plus 100 franchise stores, around the world by 2020. For more information on OLIVEDA International, please visit http://www.oliveda.com , http://www.olivetreepeople.com , and http://www.otp.eu . Company filings are uploaded to OTCMarkets.com under the company's stock symbol "OLVI."
Forward-Looking Statements This press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company's filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.
CONTACT Advance PR Group Phone: 619-202-7456 investors@oliveda.com
