Herborium Group Decreases the Number of Authorized Shares, Approves the Reverse
Stock Split and Decreases Company Debt by One Million
FORT LEE, NJ -- (Marketwired) -- 01/27/14 -- Herborium(R) Group,
Inc. (OTC Pink: HBRMD) (OTC Pink: HBRM), www.herborium.com, a
Botanical Therapeutics(R) Company announced today that on January 14,
2014, the Board of Directors and shareholders owning the majority of
the voting securities of Herborium Group, Inc. approved a decrease in
the number of the Company's authorized common shares, rolling the
number back to 950,000,000 shares. The Board and majority
shareholders have also authorized a 1,000 to 1 reverse common stock
split (the "Reverse Split"). In addition, a reduction of the
Company's debt by $1 million dollars was achieved by Management's
conversion of a substantial portion of their accrued salaries,
disclosed as liabilities on the balance sheet of the Company, at a
conversion rate of $0.0004 for one Common Share, representing more
than 60% premium over the current public market price (the
"Conversion Transaction"). This Conversion Transaction expresses a
high level of trust in the Company's future by Management.
The Board of Directors believes that lowering the number of
authorized shares and the Reverse Split will result in an increase in
the market price of the common stock and may encourage more investor
interest, and improve the marketability of the common stock via a
broader range of investors and brokers, thus enhancing liquidity.
This should facilitate potential future acquisitions, business
alliances and JVs as well as further product licensing and
development opportunities. The Company will also be in a better
position to attract needed talent as these corporate actions will
facilitate the establishment of an employee and advisors stock
compensation plan. Finally, we believe that this significant
reduction of debt, combined with the Conversion Transaction, not only
improves the Company's financial profile but directly enhances
The Reverse Split will become effective on January 27, 2014, and the
appropriate documents have been filed with the Secretary of State of
the State of Nevada.
The Reverse Split will affect all holders of the Company's Common
Stock uniformly and will not affect any shareholder's percentage
ownership interest in the Company. In addition, the Reverse Split
will not affect any shareholder's proportionate voting power (subject
to the treatment of fractional shares).
All pertinent information and instructions related to Reverse Split
as needed by all shareholders are published on Herborium's Corporate
website as of January 27, 2014, at (www.herborium.com).
About Herborium Group, Inc.
Herborium Group, Inc., a Botanical Therapeutics(R) company, focuses
on developing, licensing, and marketing proprietary, botanical based
medicinal products to consumers and healthcare professionals. The
Company's present focus is on dermatology, women's and men's health
and energy and wellness. The Company uses clinical validation to
establish and maintain a differential advantage, and sells its
products in the US and Europe. For more information, please visit
www.herborium.com, and www.acnease.com.
For more information please inquire:
Herborium Group, Inc.
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