Shares of Branded Legacy Inc (OTCMKTS:BLEG) have been trading in the range over the past few sessions.
On Monday, BLEG stock ended flat at $0.0219 with 3 shares, compared to its average volume of 20K shares. The stock moved within a range of $0.0219 – 0.0219 after opening trading at $0.0219.
About Branded Legacy
Branded Legacy Inc. (OTCMKTS:BLEG) formerly known as Elev8 Brands, Inc., focuses on developing hemp and cannabinoid-infused beverages in Central Florida. It also provides hemp coffees and teas, along with CBD topicals and tinctures. The company has its headquarters in Longwood, Florida.
Branded Legacy, Inc. Signs Letter of Intent to Purchase Assets Of Kamino Propagation & Research, LLC
Branded Legacy, Inc. has signed a Letter of Intent to purchase assets of Kamino Propagation & Research, LLC. Originally, the Letter of Intent was signed on April 6, 2022, but it has been updated since then, to mention an asset purchase. The company is located in Newberry, FL, and is owned by military veterans Maxwell Minch and Joel Reynolds.
Kamino is involved in growing, farming, harvesting, and selling industrial hemp. Branded Legacy Inc. visited Kamino’s farm in March of 2022, and the discussion for an acquisition opportunity started back then. It gives Branded Legacy a chance to own everything from seed to shelf, controlling the total process while minimizing costs.
To sum up, Kamino can now focus on growing, farming, and harvesting industrial hemp, while Branded Legacy pitches in with the salesforce and network to increase sales. That is why; it is an asset purchase instead of an acquisition.
Branded Legacy, Inc. Finalizes Acquisition
In other news, Branded Legacy, Inc. has officially finalized an agreement with Thomas “Pepper” Johnson to acquire his patent on a sports training assembly called The Quickness. It is a sports training assembly aimed at helping with training from a more real-life scenario with the element of surprise. Multiple remote targets can take part in the training. Each of the remote targets is positionable on a training field and each of the remote targets respectively emits a visual alert when the respective remote target is turned on.
The respective remote target is established as the desired target for the athlete to strike. Electric communication is always maintained on behalf of the base target, with each of the remotes ones. This sequence is totally random, while a plurality of balls is provided and each of the base and remote targets is mounted on a respective one of the balls. Each of the balls is biased to vertically orient the remote and base targets for striking.
BLEG stock is trading below the 20-Day and 50-Day Moving averages of $0.0280 and $0.0331 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0470.