CHEYENNE, WY / ACCESSWIRE / February 26, 2016 / FBEC Worldwide, Inc. (OTCQB: FBEC), a beverage company with intellectual property formulas and marketing capability for the production and distribution of proprietary beverages and CBD products, announces 100,000,000 shares of common stock have been retired and returned to Treasury. The new number of shares issued and outstanding are 161,847,598.
The retired 100,000,000 shares were part of a stock purchase agreement between Midam Ventures LLC and former CEO Robert Sand in which Midam purchased 150,000,000 common shares from Robert Sand. The remaining 50,000,000 shares are bound by a 5 year lockup agreement between Midam and the Company. The lockup agreement can be found in the Company's most recent 8K filing.
About FBEC Worldwide, Inc.
FBEC Worldwide is an innovative beverage company dedicated to offering proprietary products focused towards significant target markets, both domestic and abroad. We are committed to increasing our market size and scope through the optics of creative marketing and most importantly customer satisfaction. Our growth strategies will focus on a number of major initiatives including, unique branding opportunities that will be targeted at key demographic groups, and to develop strong community and distributor relationships.
As we look ahead, FBEC Worldwide will develop and build name brands focused on strong rates of growth within key fundamental consumer groups. Our company is dedicated to becoming a leading developer of name brand beverage alternatives geared specifically towards large, significantly important demographics within major markets.
Safe Harbor for Forward-Looking Statements: This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.
Contact:
Investors:
Joe Sirianni
MIDAM Ventures LLC
(305) 707-7018
jsirianni@MidamIr.com
www.MIDAMIr.com
SOURCE: FBEC Worldwide, Inc.