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EX-99.2 - PRESS RELEASE - cbdMD, Inc. | levb_ex992.htm |
8-K - CURRENT REPORT - cbdMD, Inc. | levb_8k.htm |
Exhibit 99.1
Level Brands, Inc. Announces Closing of $6.9 Million Public
Offering
CHARLOTTE,
NC, October 2, 2018 – Level Brands, Inc. (NYSE American:
LEVB) (the “Company”), an innovative marketing and
licensing company that provides bold, unconventional, and socially
responsible branding for leading businesses, today announced the
closing of its previously announced underwritten public offering
for total gross proceeds of $6,899,998, before deducting
underwriting discounts, commissions and other offering expenses
payable by the Company. The Company sold an aggregate of 1,971,428
shares of its common stock at a purchase price of $3.50 per share
in this offering, which included the full exercise of the
over-allotment option of 257,142 shares of common stock. The
Company intends to use the net proceeds from the offering for brand
development and expansion, acquisitions and general working
capital.
ThinkEquity,
a division of Fordham
Financial Management, Inc., acted as sole book-running manager for
the offering.
The shares described above were offered by Level Brands, Inc.
pursuant to a registration statement on Form S-1 (Registration No.
333-227529) previously filed with the U.S. Securities and Exchange
Commission (“SEC”) and declared effective on September
28, 2018. A final prospectus relating to this offering was
filed with the SEC on September 28, 2018. The offering is being
made only by means of a prospectus. Copies of the prospectus
relating to the offering may be obtained by contacting ThinkEquity,
17 State Street, 22nd Floor, New York, NY
10004, telephone (646) 968-9355, email:
prospectus@think-equity.com. Investors may also obtain these
documents at no cost by visiting the SEC's website at http://www.sec.gov.
This
press release does not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Level Brands, Inc. (www.LevelBrands.com)
Level Brands is an innovative marketing and licensing company that
provides bold, unconventional, and socially responsible branding
for leading businesses. The focus of LEVB is licensing and
corporate brand management for consumer products, including art,
beauty, fashion, the beverage space, health and wellness, and
entertainment. License brand marketing is at the core of the Level
Brands businesses: kathy
ireland® Health &
Wellness; Ireland Men One (I’M1), a men’s lifestyle
brand established to capitalize on potentially lucrative licensing
and co-branding opportunities with brands focused on millennials;
and Encore Endeavor One (EE1), a provider of corporate
brand-management services and producer of experiential
entertainment events and products across multiple
platforms.
Forward-Looking Statements
This press release contains certain forward-looking statements that
are based upon current expectations and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking statements can
be identified by the use of words such as ''should,'' ''may,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and
''proposes'' and include the statement regarding the intended use
of proceeds. These forward-looking statements are not guarantees of
future performance and are subject to risks, uncertainties, and
other factors, some of which are beyond our control and difficult
to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements,
including, without limitation, our material dependence on
our relationship with kathy
ireland® Worldwide, our limited operating history, our
ability to expand our business and significantly increase our
revenues and our ability to report profitable operations in future
periods, among others. You are urged
to carefully review and consider any cautionary statements and
other disclosures, including the statements made under the heading
“Risk Factors” in Level Brands, Inc.'s filings with the
SEC, including the registration statement on Form S-1 (Registration
No. 333-227529), the Annual Report on Form 10-K for the fiscal year
ended September 30, 2017 as filed with the SEC on December 26, 2017
and our other filings with the SEC. All forward-looking
statements involve significant risks and uncertainties that could
cause actual results to differ materially from those in the
forward-looking statements, many of which are generally outside the
control of Level Brands and are difficult to predict.
Level Brands, Inc. does not undertake
any duty to update any forward-looking statements except as may be
required by law.
Contact:
Mark S.
Elliott
Chief
Financial Officer and Chief Operating Officer
Level
Brands, Inc. (704) 362-6345