ATLANTA, GA--(Marketwired - May 19, 2014) - iBrands Corporation (OTC Pink: IBRC) (PINKSHEETS: IBRC), www.ibrandscorporation.com, today announced that it plans to retire three billion shares of common stock. Following the return of three billion common shares back to treasury, iBrands Corporation will have 7,807,827,624 common shares outstanding of which seven billion is owned by insiders and subject to lockup agreements.
CEO Paul Smith states, "The return of 30% of our outstanding shares, by management, to treasury shows our commitment to our shareholders as well as our dedication to creating real value in our company stock. We believe this capital restructuring will make our stock much more appealing to prospective acquisition and investment targets." Mr. Smith further states, "Since the recent acquisition of Hatchbrands Ventures, the company has entered into discussions with 12 potential investment candidates, each meeting our investment criteria and deal terms."
About Hatchbrands Ventures
Hatchbrands Ventures, www.hatchbrands.com, is a fund that specializes in making startup technology pre-IPO investments in high quality startup companies developed in accelerators and incubators found in university/college environments. Hatchbrands unique opportunity is to provide investors the ability to participate along with leading venture capital firms and corporate venture arms in startups investments. Hatchbrands focuses on several themes including: (i) SaaS / Cloud Infrastructure; (ii) Online Finance; (iii) Data Pipeline and Data Science; (iv) New Advertising Battlegrounds; and (v) Reinvention of (Online/Offline) Retail.
Hatchbrands is located in Ottawa Canada adjacent to Kanata which is Canada's Silicon Valley. The acquisition of Hatchbrands will establish the company's business model similar to that of GSV Capital, one of the world's preeminent voices on growth investing.
About iBrands Corporation
iBRANDS CORPORATION ("IBRC"), www.ibrandscorporation.com, is a publicly traded company that invests in early-stage companies with products having identifiable market niches and exciting growth potential in quantifiable market sectors. iBrands is a unique vehicle enabling micro-cap investor's access to attractive early-stage innovative private companies having the potential to be sold to strategic partners or completion of an IPO.
SAFE HARBOR STATEMENT: Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.