Torque Lifestyle Brands Announces Three-for-One Forward Stock Split
Stock Split to Become Effective July 16, 2021
WHEAT RIDGE, CO / ACCESSWIRE / July 8, 2021 / Torque Lifestyle Brands Inc. (OTC PINK:TQLB) ('Torque' or the 'Company'), an emerging leader in the $150B+ sports nutrition and supplements market, today announced that the Board of Directors has approved and declared a three-for-one forward split of the Company's common stock in the form of a stock dividend to make stock ownership more accessible to employees and investors.
Each Torque stockholder will receive a dividend of two additional shares of common stock for each then-held share, to be distributed after close of trading on July 16, 2021. Torque common shares will begin trading on a stock split-adjusted basis thereafter.
"We have achieved strong momentum in the first half of 2021, and this stock split is another indication of our confidence in our business," said Leonard K. Armenta Jr., President of Torque Lifestyle Brands. "We continue to see strong sales from our American Metabolix acquisition, and this strategic move will help to improve our capital markets appeal to investors and to pursue our longer-term objective to file a Form 10 and uplist to a national exchange. We are confident in our future growth prospects, and the immediate goal to make Torque shares more accessible to a broader market."
About Torque Lifestyle Brands Inc.
Torque Lifestyle Brands Inc. (OTC:TQLB) is an emerging leader in the $150B+ sports nutrition and supplements market. Leveraging a growth-by-acquisition model and a growing suite of influencers as brand ambassadors, the Company offers a wide array of active lifestyle products through its e-commerce presence and tier-1 U.S. retailer relationships. Torque's growing family of in-house brands include American Metabolix, Storm Lifestyles and Core Natural Sciences. For more information, please visit the Company's website at www.torquelb.com.
Cautionary Statement Regarding Forward-Looking Statements
Statements contained herein that are not based upon current or historical fact are forward-looking in nature and constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements reflect the Company's expectations about its future operating results, performance, and opportunities that involve substantial risks and uncertainties. These statements include but are not limited to statements regarding departure of the company's CEO. When used herein, the words 'anticipate,' 'believe,' 'estimate,' 'upcoming,' 'plan,' 'target,' 'intend' and 'expect' and similar expressions, as they relate to Progressive Care Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.
SOURCE: Torque Lifestyle Brands, Inc.