SANTA MONICA, CA, July 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international innovator in natural cosmetics and wearable beauty and health technology, today announced that the company is preparing to acquire a company in the beauty tech field and has completed a 3-for-1 exchange with selected shareholders. The share exchanges, in which each shareholder was offered 3 restricted common shares of the company for 1 free-trading common share, will be detailed in OLVI's quarterly report and disclosure statement for the period ended June 30, 2019, which is expected to be posted on August 14, 2019 on the OTC Markets Group website at http://www.otcmarkets.com/stock/OLVI/disclosure.
Overall, the stock exchanges resulted in 300,000 new common shares issued with restricted legend and 100,000 free-trading shares returned to treasury. All stock exchanges were completed before the private offer closed on July 16, 2019.
While the company may be considering similar offers for common stockholders in the future, these offerings are expected to be limited. Further, additional acquisitions of worldwide unique companies in the field of beauty tech are planned for the near term.
“The support from our common stockholders is the key to OLVI's future success as a public company, and we look forward to having this exchange with selected shareholders to increase their stake in OLVI," commented Chairman and CEO Thomas Lommel.
Oliveda International Inc.
Founded in 2003 by German real estate investor Thomas Lommel, Oliveda International, Inc. is a leading international natural cosmetic company in the premium segment. The company has also developed a globally-unique wearable beauty and health technology. In addition to online sales and a global branch network of 650 retail stores, the company’s wholly owned Oliveda Deutschland GmbH subsidiary operates flagship stores, Olive Tree Pharmacy, in Berlin and Dusseldorf with plans to open new locations in Los Angeles, Taipei and Seoul. Overall, the company believes that it will be able to operate a total of 60 of its own flagship stores worldwide and increase the retail store network worldwide to 1,200 over the next five years. Through subsidiary operations, Oliveda International is the largest investor in eco-certified mountain olive trees as well as the largest conservationist in Arroyomolinos de Leó, Spain. Further information on Oliveda International can be found at http://www.oliveda.com and http://www.olivetreepeople.com.
Forward-Looking Statements
This press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company’s filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.
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