Bell Buckle Holdings Inc. (OTC Pink: BLLB) (“The Company”) is pleased to update shareholders on its plan to reorganize, including:
~Unwinding the Jump Start Sports merger;
~Discussions with new merger candidates;
~Seeking a new management team; and
~Share reduction.
First: The Company’s Board of Directors announced it has divested of Jump Start Sports, its subsidiary that puts on youth sports programs and is currently franchising nationwide. The merger agreement contained provisions for the parties to terminate under certain conditions. “While Jump Start Sports is a great company with a great mission, it was evident that it was not the type of asset well-suited for the OTC marketplace,” commented Nick Coriano, Bell Buckle Holdings Board Member and veteran OTC investor. “The public entity wasn’t doing it any good and it wasn’t benefiting our shareholders. Our direction now is to find a company or companies with faster revenue growth potential and a steeper valuation curve.”
Second: The Company has partnered with Global Imperium Inc., who specializes in Financing, M&A, Joint Ventures and Reverse Mergers. It is in discussions on behalf of Bell Buckle with companies in more cutting edge industries like AI, bio/medical, communications and energy. Updates will be made as appropriate.
Third: The Company will bring on a new management team, either in connection with a new merger or to help expedite one. The Board of Directors has the experience, expertise and knowledge to assist in this and once a new merger is achieved will evaluate its position.
Fourth: The Authorized Shares will be reduced from 5,000,000,000 to 3,000,000,000, effective immediately. The terms of Series C Preferred Shares will be revised to take into account the Jump Start Sports divestiture.
The Company will provide more information on all the above as material events occur and will update the shareholders as per OTC Markets best practices and guidelines.
ABOUT BELL BUCKLE HOLDINGS:
Bell Buckle Holdings is seeking a merger candidate in emerging, rapidly growing, high volume industries.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed.
/S/ Robert Clegg, CEO
FOR MORE INFORMATION, PLEASE CONTACT:
Email: info@bellbuckleholdings.com
Website: www.bellbuckleholdings.com