OMID Updates on Outstanding Common Share Reduction

OMID Holdings, Inc. (OTC Pink: OMID), a publicly-traded health and wellness company, today intends to provide shareholders with an update and additional clarification with respect to the planned reduction in the number of outstanding common shares - as stated in the Letter to Shareholders earlier this month. The company is pleased to report that it has submitted the filings necessary with the State of Florida to initiate its plan to convert no less than 150,000,000 shares of outstanding Common Stock into Series B Convertible Preferred Stock. This substantial reduction in outstanding common shares is expected to become effective and be reflected on OTCmarkets.com during the second quarter, later this year.

“These activities are being executed in response to shareholder requests to substantially reduce the number of outstanding common shares through a conversion of the majority of common shares held by the company executives into convertible preferred shares. As a shareholder demand which my partner Kevin Anderson and I are able to readily accommodate, we are pleased to oblige while also seeking to express our confidence in OMID’s future. We expect to continue to utilize our position as majority shareholders as well as Directors of the company for the benefit of all OMID shareholders.” stated Adam Frank, OMID’s Chairman & CEO.

About OMID Holdings, Inc.

OMID Holdings, Inc. is a publicly-traded (OTC Pink: OMID) health and wellness company which owns and operates a manufacturing facility in Alpha, New Jersey. The headquarters is FDA-registered and Food Grade Certified for production within its clean room environment. The company is currently focused on the development, manufacture, and sale of hemp-based products for private label and in-house brands. For more information about the company, please visit https://omidholdingsinc.com/.

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