Santa Monica, CA, March 01, 2021 (GLOBE NEWSWIRE) -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics and wearable beauty and health technology innovator, today announced the intention of its wholly owned Oliveda Group Inc. subsidiary, a California corporation, to file a Regulation A+ Tier 2 stock offering to raise up to $15 million in 2021. Proceeds of the planned offering are currently targeted for expansion of Oliveda operations in the United States and will only involve Oliveda Group stock, not the stock of Oliveda International, Inc.
Oliveda Group Inc.’s U.S. expansion plans include new Oliveda flagship stores in Los Angeles (Abbot Kinney Boulevard area), New York, San Francisco, and Miami; broader marketing of Oliveda products throughout the country; ownership of olive tree groves, the launch of new products; and potentially the acquisition of additional beauty and health companies.
Legal counsel has been retained and work has been initiated on Form 1-A offering circular, which is expected to be filed with the U.S. Securities and Exchange Commission as soon as it is finalized.
The company has prioritized increasing the value of its subsidiary operations with minimal dilution to OLVI shareholders, which is why the company’s issued and outstanding common stock has remained virtually unchanged over the past four years.
About 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 second-tier 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, https://us.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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