SOURCE: PureSnax International

December 01, 2015 08:00 ET

PureSnax International Reduces Outstanding Number of Common Shares and Provides Corporate Update

WOODBRIDGE, NJ--(Marketwired - Dec 1, 2015) - PureSnax International, Inc. (OTC PINK: PSNX) ("PureSnax" or "Company"), an innovative functional food and healthy snacks company, is pleased to announce that it has completed the cancellation of 300,000,000 of its common shares.

"This corporate restructuring has reduced our common share market capitalization and contributes to strengthening our overall financial position," commented Pat Gosselin, President of PureSnax. "We are confident that we are now better positioned to execute our current growth plan and take advantage of any potential strategic partnerships that could assist us in achieving our long-term goals."

Pursuant to the common share cancellation, 1,000,000 convertible preferred shares with multiple voting rights have been issued to Company President, Pat Gosselin. Following the share cancellation, there are now currently 100,000,000 shares of the Company's common stock issued and outstanding. Complete details regarding all corporate restructuring actions can be viewed in the Company's most recent 10Q filing.

PureSnax is currently focused on expanding its corporate governance structures and establishing systems and policies that will allow it to effectively handle large volumes of sales and ensure steady, controlled, and responsible growth within the multibillion dollar snack food industry.

"Being a new public company, we understand that establishing proper internal controls and bringing in key individuals at this important stage will ensure that we are able to meet our regulatory responsibilities and potentially accelerate our development. Over the next few weeks, ‎we anticipate introducing new team members that will supplement and compliment areas we have identified as being important to our growth and long-term viability," concluded Pat Gosselin.

About PureSnax International, Inc. (PSNX)

PureSnax International, Inc. is a functional food and healthy snacks company engaged in development, sourcing, branding and distribution of healthy food and snack products through its wellness brand.

Disclaimer: Notice Regarding Forward-Looking Statements

This press release contains "forward-looking statements," as that term is defined in the United States Securities Act of 1933 and Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors, including, among others, the inherent uncertainties associated with intellectual property protection, marketing and sale, manufacturing and distribution, and difficulties associated with obtaining financing. Investors should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements. Although we believe the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations, or intentions will prove to be accurate.

Contact Information