NEW YORK, April 24, 2013 /PRNewswire/ -- Winning Brands Corporation (OTC Pink: WNBD) www.WinningBrands.com announces that a reverse split of its common stock will go into effect as of April 25, 2013 on a basis of 1:500. A 90% reduction in the current authorized level of common stock will be implemented by the Winning Brands Board, providing a new lower common share cap of 500 million.
The result of the action will be a reduction in the number of Winning Brands common shares outstanding to 9,996,078 as of April 25th. No fractional shares will be issued. The trading symbol will be WNBDD for 20 days in order to designate the corporate action, following which the symbol will revert to WNBD. The new CUSIP Number will be 975012204.
Winning Brands CEO, Eric Lehner, comments further: "There are two benefits to the company from this action. The first pertains to corporate finance. This share consolidation is a step toward the company's previously announced plan to become registered with the Securities & Exchange Commission by adopting a more conventional share structure and thus providing a more attractive basis for financing the registration related activities. Appointment of auditors registered with the PCAOB (Public Company Accounting Oversight Board) will follow. If SEC registration is obtained, Winning Brands will seek quotation at the OTCQB level of www.OTCMarkets.com with possible dollar volume liquidity advantages for shareholders. The second benefit to Winning Brands is an improved basis to accelerate operational work, including the recruitment of new sales personnel, with the top priority being the hiring of U.S. sales management."
Most Winning Brands common shareholders do not need to take special steps in order for their holdings to be converted into the new shares, because this will be carried out automatically by FINRA member investment dealerships before and during trading transactions, with restated holdings appearing automatically in electronic accounts, pertaining to the new CUSIP number. Winning Brands shares are not currently eligible for clearance through all brokerages and implementation procedure amongst organizations may vary.
All shareholders are invited to e-mail the company with questions. The questions will be tabulated and form the basis of a conference call to be announced in the first week of May, in which answers, clarification and further explanation will be provided. Please address all enquiries to the Office of the Assistant to the CEO: [email protected]. Mr. Lehner maintains a CEO weblog for the benefit of shareholders at www.WinningBrandsCorporation.com/blog. It serves as an overview of operational highlights, provides answers to many shareholder questions and should be considered a source of public information pertaining to the company pursuant to SEC Fair Disclosure guidelines.
Mr. Lehner concludes: "This is a case of Winning Brands advancing. The reverse split is part of an assertive registration and company uplisting effort. Winning Brands has risen upward through the OTC ranks of non-reporting issuers in our formative years to reach the highest available level in Pink Sheets, "Current Information". Now we are targeting the next level up - OTCQB. In the business, we have earned very desirable retailer relationships as a foundation for success. We must increase consumer awareness of our products and consumer traffic to these well-known retailers. Additionally, aggressive business development in the industrial and commercial sectors with our existing products, as well as new ones that are currently under development, is being planned. The bottom line is that we can accomplish a great deal more and are ambitious to get it done. We continue to mature as a young publicly held venture and look forward to deepening our relationships on all sides".
ABOUT WINNING BRANDS CORPORATION: Winning Brands is a manufacturer of advanced cleaning solutions including 1000+ Stain Remover, World's Most Versatile Cleaning Solution™, through its subsidiary Niagara Mist Marketing Ltd. www.1000Plus.ca 1000+ is an alternative to conventional cleaning solvents and is considered to have unique desirable properties. 1000+ Stain Remover is a Schedule Contract Holder under the U.S. Government's General Service Administration www.WinningBrandsGOV.com and is now registered with the U.S. Department of Defense EMALL. The innovative stain remover and multi-cleaner was known during early marketing as Winning Colours. The brand's remarkable cleaning characteristics in household, commercial and industrial applications can be seen on Facebook (www.facebook.com/1000PlusStainRemover) and Youtube (www.youtube.com/results?search_query=1000%2B+stain+remover&oq=1000%2B+Stain+&aq=0&aqi=g1&aql=&gs_sm=c&gs_upl=5756l10795l0l13588l12l12l0l1l1l0l219l1669l2.6.3l11l0). 1000+ Stain Remover is available coast-to-coast in Canada in some of that country's largest retailers and a growing number of U.S. outlets. Winning Brands intends to launch complementary products to its existing channels and expand its reach into additional sectors of its marketplace. The company's goal is that 1000+ and its other Winning Brand peer products become household names and favourites in their categories. Additional key brands include CLEAN1 Hard Surface Cleaner, KIND Laundry Products and ReGUARD4 bunker gear cleaning solutions for firefighters.
PRODUCT INFORMATION and INTERVIEWS:
Jean Wursten-May, Assistant to the CEO
220A-11 Victoria Street, Barrie, Ontario, Canada L4N 6T3
Tel: (705) 737-4062 Fax: (705) 737-9793 [email protected]
1000+, CLEAN1, KIND and ReGUARD4 are trademarks of Niagara Mist Marketing Ltd in connection with indicated uses. Safe Harbor: Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE Winning Brands Corporation