Palm Beach, FL, Nov. 14, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Vegalab, Inc. (OTCQB: VEGL), (the “Company”), a leading distributor of agricultural products, was notified by OTC Markets (“OTC”) on October 28, 2018 of recent promotional activity concerning its common stock. The OTC Markets informed the Company it had become aware of promotional activity and had received copies of promotional materials regarding its common stock.
While the Company did engage TraDigital Marketing Group, Inc., (“TraDigital”) to provide investor relations and business consulting services, the Company did not authorize or engage any party to promote any awareness in the Company’s stock and had no knowledge of the subject promotional campaign until notified by OTC Markets and given copies of the materials. The promotional activity was disseminated by SmallCapFirm which disclosed it was compensated by Awareness Consulting Network, LLC to do so. The Company has no relationship with and did not engage or compensate either of these parties to disseminate any materials on its behalf. The Company did engage TraDigital which the Company has been advised compensated World Wide Holdings to provide investor relations. The Company has not engaged anyone to provide promotional services nor did the Company prepare, review, or consent to the release of these materials. The Company has engaged no other third party to provide marketing, investor relations, public relations, or other related services.
The Company is unaware of the effect the promotional activity had on the trading of the Company’s stock. While the stock did trade with higher volume at the time of this activity, the Company did report other, positive news at that time. After inquiry, the Company definitively confirms that its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities), have not: been involved directly or indirectly with the creation, distribution or payment of promotional materials; nor sold or purchased the Company's securities within the past 90 days on the open market.
The Company has not at any point issued shares or convertible instruments allowing for conversion to equity securities at prices constituting a discount to the current market price at the time of issuance.
In the past 12 months, the Company engaged TraDigital, a strategic advisory, investor and public relations firm to assist the Company with investor relations and digital media strategies.
After a review of the material, the Company determined that while the statements contained therein are neither materially false nor misleading, but they did contain highly speculative language, unsubstantiated figures relating to the industry, and future performance of the Company’s stock. The Company encourages those interested in the Company to rely solely on information included in its press releases, combined with its filings and disclosures made with the S.E.C. (www.sec.gov) and OTC Markets Group.
About Vegalab, Inc.
Vegalab, Inc. is the exclusive distributor in North and South America of a line of all-natural, biologically derived pesticides, fertilizers, and specialty agricultural products. Vegalab’s pesticides are highly effective against targeted organisms, non-toxic to beneficial organisms, and safe for the environment. Vegalab’s products support a healthy soil biome and are cost competitive with synthetic chemicals that do just the opposite. The Company operates in two segments of the food industry. The Agronomy Business involves the manufacture and distribution of all-natural crop protection, crop health, and soil enhancement products: and The Packing Business is the operation of a citrus packing facility.
Safe Harbor for Forward-looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “would” or similar words. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements are subject to certain risks, uncertainties, and assumptions, including, but not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products and services, based on its technology; the expected benefits and efficacy of the Company’s products, services and technology; the availability of additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies; the ability of the Company to execute on a business plan that permits the technologies and innovations businesses to provide sufficient growth, revenue, liquidity and cash flows for sustaining the Company’s go-forward business, and the risks identified and discussed under the caption “Risk Factors” in Vegalab’s filings with the Securities and Exchange Commission (the “SEC”). There will be events in the future, however, that Vegalab is not able to predict accurately or control. Vegalab’s actual results may differ materially from the expectations that Vegalab describes in its forward-looking statements. Factors or events that could cause Vegalab’s actual results to materially differ may emerge from time to time, and it is not possible for Vegalab to accurately predict all of them. Any forward-looking statement made by Vegalab in this press release speaks only as of the date on which Vegalab makes it. Vegalab undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.