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LAS VEGAS, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Vitalibis, Inc. (OTCQB: VCBD), a technology based formulator of premium hemp-based cannabidiol (CBD) wellness products reports that it has been made aware of recent trading and promotional activity concerning VCBD common stock. The Company has been informed that the higher than average trading volume in the Company's stock may be the result of unauthorized promotional activity. The Company has been informed that emails promoting VCBD were sent out from unreliable sources.
The Company had no knowledge of the subject promotional campaign until notified by OTC and shares OTC’s opinion that such activities are of concern and need to be addressed immediately, and in that regard, the Company is working diligently to do so. After receiving the OTC notice, the Company conducted an inquiry of the Company’s management, directors and control persons in an effort to determine whether these Company insiders are or have been involved in the stock promotion in any way, or have sold or purchased the Company’s securities within a 90-day period leading up to, during, and after the promotional activity.
The content of the promotions the Company has found is false, misleading and manipulative, using highly speculative language, grandiose numbers and figures relating to the hemp industry, financial results and business performance. The Company encourages those interested in the Company to rely solely on information included in its press releases, together with its filings and disclosures made with OTCMarkets Group, as well as the filings made by the Company on the EDGAR data base.
Based on the above-referenced inquiry, as well as a subsequent investigation, Vitalibis has determined, definitively, that neither the Company, its officers, directors, nor, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of these false, misleading and manipulative promotional materials; nor have the Company, its officers, directors and, to the Company’s knowledge, any controlling shareholders, sold or purchased any shares in the open market within the past 30 days.
The Company hired Radius Consulting Inc, on January 23, 2019, to provide IR services and public relations services for the Company. Please see this press release for more details: https://www.otcmarkets.com/stock/VCBD/news/VITALIBIS-INC-Announces-Engagement-of-Strategic-IR-Advisory-Firm-RADIUS?id=216384
The Company hired MZ Group and Kingdom Building on March 4, 2019, to provide IR services and public relations services for the Company. Please see this press release for more details: https://www.otcmarkets.com/stock/VCBD/news/Vitalibis-Engages-MZ-Group-to-Lead-Strategic-Investor-Relations-and-Shareholder-Communication-Program?id=221756
The Company currently has convertible notes issued and outstanding. Details regarding the notes are available under the Company's filings and disclosures made with OTCMarkets Group, as well as the filings made by the Company on the EDGAR data base: https://www.otcmarkets.com/filing/html?id=13729823&guid=flCSU6Qfb4GP7yh
Vitalibis (OTCQB: VCBD) is a socially conscious brand focused on people, products and the planet. We are a technology based formulator of premium, full spectrum phytocannabinoid rich hemp products with naturally occurring cannabidiol (CBD), along with safe personal care and nutritional products. Our Ambassador program combines the best elements of social selling, ecommerce and affiliate marketing into one innovative program - empowering our people and social mission driven ecosystem.
For additional information, please visit www.vitalibis.com.
FORWARD LOOKING STATEMENTS
This news release includes forward-looking statements that reflect Vitalibis Inc. current expectations about its future results, performance, prospects and opportunities Vitalibis, Inc. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities for the remainder of 2019 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements.