Los Angeles, CA, Aug. 26, 2022 (GLOBE NEWSWIRE) -- ACTIVE HEALTH FOODS, INC. (OTC: AHFD) has terminated the previously announced $20 Million Regulation A public offering of its shares. Separately, the Company has approved and filed with the Financial Industry Regulatory Authority (FINRA) to implement a substantial reverse-split of its common shares on a 1-for-7,000 basis. Upon completion of the reverse-split of the AHFD shares, the filed corporate action includes change the company’s name to “Active Health, Inc.” as well as trading symbol on OTC Markets.
The post-split capitalization for the Company will be reduced to 100 million common shares authorized. The previous increase to 37 billion authorized shares for the purpose of the Reg A offering will be amended. The purpose of the reverse-split is to qualify the Company for listing on the NASDAQ Capital Market, which is anticipated in the first quarter of 2023.
Joe Wallace, AHFD President, stated “Our plan is to uplist to the NASDAQ Capital Markets once AHFD’s minimum bid price trades at $4.00 per share for 90 days, which will increase the value to all of our shareholders and attract new market makers trading our shares. We believe that there has been confusion about our plans in the trading market, between the previously announced Reg A and the reverse-split. Hopefully this announcement will clarify the situation.”
Contact:
Joseph Wallace, President
Active Health Foods, Inc.
Email: Joe@jwallace.biz
About Active Health Foods, Inc.
Active Health Foods, Inc. (AHFD) recently acquired Bioidentical Hormones, Inc. (www.bio-hormones.com) and its 20-year operating subsidiary, Australian Menopause Centre (AMC) (www.menopausecentre.com.au), in addition to continuing to develop its Etrnl Cosmetics (www.etrnlcosmetics.com) skin care subsidiary. AMC has successfully treated more than 80,000 women with menopause symptoms, since 2003, using Bioidentical Hormones Replacement Therapy and Telemedicine on a national basis in Australia. AHFD intends to roll-out this business model to 45 countries during the next 3 years. AHFD is focused on Healthcare and the Anti-Aging Medicine industry.
Forward Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including “could”, “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, and the negative of these terms or other comparable terminology. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, assumptions or other future performance suggested in this Press Release.
