SOURCE: Labor SMART, Inc.

Labor SMART, Inc.

January 15, 2016 07:36 ET

Labor SMART, Inc. CEO Cancels Shares

Company to Reduce Authorized Shares

ATLANTA, GA--(Marketwired - Jan 15, 2016) - Labor SMART, Inc. (OTCQB: LTNC) (the "Company"), a leader in providing on-demand blue collar staffing primarily in the southeastern United States, provided shareholders important information via live stream on Periscope.tv on January 14, 2015. 

In the live announcement hosted at Labor SMART's corporate office, Ryan Schadel, President and CEO of Labor SMART, Inc., cancelled 706,867,658 personally owned shares that were purchased in November 2015. Additionally, Mr. Schadel announced that Labor SMART, Inc. had filed a Form 14C with the U.S. Securities and Exchange Commission to reduce the Company's authorized capital stock by up to twelve billion shares.

A replay of the event can be viewed here: https://youtu.be/QaizM4r0e8g. Shareholders of Labor SMART, Inc. are encouraged to view the event in its entirety. Following the announcements, Mr. Schadel held an impromptu live Q & A session with viewers.

During the live event, the Company also announced an upcoming webcast to showcase its Skillcorps skilled trades staffing platform. More information about this future event will be provided in the coming days.

Labor SMART, Inc. provides On-Demand temporary labor to a variety of industries. The Company's clients range from small businesses to Fortune 100 companies. Labor SMART was founded to provide reliable, dependable and flexible resources for on-demand personnel to small and large businesses in areas that include construction, manufacturing, hospitality, event-staffing, restoration, warehousing, retailing, disaster relief and cleanup, demolition and landscaping. Labor SMART believes it can make a positive contribution each and every day for the benefit of its clients and temporary employees. The Company's mission is to be the provider of choice to its growing portfolio of customers with a service-focused approach that enables Labor SMART to be seen as a resource and partner to its clients.

Safe Harbor Statement
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Labor SMART, Inc., its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may", "would", "will", "expect", "estimate", "can", "believe", "potential", and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond Labor SMART, Inc.'s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in Labor SMART, Inc.'s filings with the U.S. Securities and Exchange Commission.

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