LAS VEGAS, July 13, 2018 (GLOBE NEWSWIRE) -- VITALIBIS, INC. (OTC:VCBD), (the “Company”), a technology-based seller of premium, full spectrum phyto-cannabinoid rich (PCR) hemp oil products, along with personal care and certified organic nutritional products, was notified by OTC Markets (“OTC”) 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 also 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.
After conducting due diligence inquiries regarding the promotional activity, the Company has determined that the content of the promotions, is false, misleading and manipulative, and contains highly speculative language, grandiose numbers and figures relating to the hemp industry, financial results and business performance of the VCBD shares and the Company. The Company encourages those interested in the Company to rely solely on information included in its press releases, combined with its filings and disclosures made with the S.E.C. (through the EDGAR Database) and OTCMarkets Group.
Vitalibis states definitively that the Company, its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities) have not, directly or indirectly, authorized or been involved in any way (including payment to a third-party) with the creation or distribution of the false promotional materials; and that the neither the Company, its officers, directors, nor, to the knowledge of the Company, any controlling shareholders, have sold or purchased any shares in the open market within the past 30 days.
The Company does not have, and has never had any service providers who provide IR services, public relations services, paid promotion, marketing or other related services.
The Company has not, at any time, issued convertible instruments. The Company has engaged in an exempt private placement offering, commencing in March 2018, and has sold and issued restricted shares at a price of $1.00 per share. None of the private placement shares have had their restrictive legend removed, nor have they been sold or transferred into the marketplace.
About Vitalibis, Inc.
Vitalibis endeavors to be an iconic lifestyle brand, which promotes health and wellness within the rapidly growing hemp industry. Vitalibis seeks to utilize a robust technology platform and innovative micro-influencer sales model to market and sell premium, full spectrum, phyto-cannabinoid rich (PCR) products, along with personal care and certified organic nutritional products. In addition to leveraging technology and selling high-quality products, Vitalibis will focus on supporting non-profits with environmental, health / wellness and neuro-emotional missions.
For additional information, www.vitalibis.com
FORWARD LOOKING STATEMENT
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 2018 and beyond to differ materially from those expressed in, or implied by, these forward-looking statements.