Can B Corp Update Regarding Stock Restructure - Yahoo Finance

“A Health and Wellness Company”

HICKSVILLE, NY, March 06, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Can B Corp (CANBD) (“Can B Corp” or the “Company”), a diversified health and wellness company, would like to update shareholders regarding the recent reverse split of the company shares . As of this morning the total public float is 1,268,716 shares which represents the total number of outstanding shares which are available to trade.  The value of your shares is approximately the same pre-split as post-split as you have now fewer higher value shares.

The company is very conscious of the negative connotation that could be associated with a reverse split, but the reality is the company has positioned itself to build shareholder value and grow as a company. To survive and function as a company trading as a penny or sub-penny stock is not a realistic option for the type of investors the company is trying to attract. As a higher priced security, we are now available for certain institutions, pension funds, and shareholders who previously were not able or willing or allowed to buy the stock either through a corporate charter restriction or pure adversity to penny stocks.  This split is another step towards our previous stated goal of achieving NASDAQ listing qualifications, and we’ve assembled a team of professionals that are committed to driving revenue, earnings, shareholder value and achieving our stated goals. 

We appreciate the support of our long-term shareholders and assure you our team works each and every day towards the goals of becoming a profitable and valuable corporate entity. Since Canbiola’s inception, almost two and a half years ago,  the company has gone from 3 employees with zero revenue, to 21 employees, almost $3 mil in revenue and from a pure single branded CBD product corporation to one with 3 wholly owned operating divisions, including a fully equipped R&D and manufacturing facility in Lacey, Washington, multiple product lines in the CBD space with over 100 SKU’s and a medical device division. The company is aiming for tremendous growth for 2020 and anticipates many significant catalysts to enhance value to our shareholders.

CEO Marco Alfonsi commented, “We will continue to grow as a true Health and Wellness company. We have many great initiatives in the pipeline, and while this reverse split may have a short-term negative impact on our market value, we’re highly confident that the longer-term prospects and success of our company will be realized. The CBD space has become extremely volatile but is an industry segment we believe in, and one where we’ve positioned ourselves as a recognized provider of quality products that make a difference in people’s lives. Our medical device division is enjoying record results and we will be deploying resources to further bolster this unit. My excitement for our new products coming out under our licensing division is tremendous. I want to thank everyone for their support and reinforcing our team’s commitment to our shareholders. The support is truly appreciated and we look forward to a brighter future together.”

About CanB Corp.

CanB Corp is a Health & Wellness company dedicated to delivering the highest quality CBD products, nutritionals, consumer products, and related medical equipment. Products are sold to consumers online, via retailers, marketing partners, events, and through doctors and other medical and health & wellness organizations. Our products are designed, grown, and produced to the highest industry standards to promote wellness and reduce pain, inflammation, anxiety, sleep disorders and related issues. Further, we are committed to serving our customers and marketing partners, with not only the best products, but the best service and experience in the marketplace now and in the future.

CanB Corp owns and operates a manufacturing facility under Pure Health Products in Lacey, Washington where all CBD based products are blended and packaged. CanB Corp owns and operates Duramed Inc, which sells medical supplies and devices. CanB Corp owns and operates NY Hemp Depot and Green Grow Farms, which are licensed to grow and cultivate hemp in the State of New York.

For more information about CanB Corp., please visit: Canbiola.com. Coming soon: www.CanBCorp.com

Forward-Looking Statements

Forward-looking statements and risks and uncertainties discussed in this letter contain forward-looking statements. The words "anticipate," "believe," "estimate," "may," "intend," "expect," and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape or manner of our future financial condition or stock price.

Follow Canbiola on: 

Twitter @CanbiolaHealth

Instagram @canbiola.inc or @canbiola_cbd or @canbiola_medical_cbd

Investors and Media:

IR@canbiola.com

(646) 397-2309

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