Healthier Choices Management Corp. Announces Postponement of the Record Date for the Spin Off of Healthy Choice Wellness Corp
News provided byHealthier Choices Management Corp
May 26, 2023, 5:30 PM ET
HOLLYWOOD, FL, May 26, 2023 (GLOBE NEWSWIRE) -- Healthier Choices Management Corp. (OTC Pink: HCMC) (“HCMC” or the “Company”) announced today that that the record date for the stock dividend for the spinoff (the “Spin Off Shares”) of Healthy Choice Wellness Corp. (“HCWC”), which was previously set for May 1, 2023 (the “Record Date”), has been cancelled. The Company’s Board of Directors previously declared a pro rata dividend to the stockholders of all of the outstanding common stock of HCWC (the “Distribution”) and the Company continues to undertake all necessary actions to effect the Distribution. The Company will update its stockholders with respect to the Distribution, and the new record date, as soon as circumstances so permit.
The Company is required to obtain certain regulatory and other approvals (such as SEC approval for registration of the Spin Off Shares and stock exchange listing approval) before the Distribution can occur. At present, the Company does not believe these requirements can be achieved prior to June 29, 2023 (the “Distribution Deadline”), the date HCMC would be required to complete the Distribution pursuant to Delaware law for the Record Date to remain effective.
The Company’s CEO and Chairman, Jeffrey Holman, said, “We are committed to completing our announced spinoff of HCWC to the Company’s stockholders. The delay has been driven by approval matters outside our control. Despite these challenges, I remain optimistic that these matters will be timely dealt with and the resulting stock dividend of HCWC will achieve the desired outcome for the Company and its stockholders.
About Healthier Choices Management Corp.
Healthier Choices Management Corp. (www.hcmc1.com) is a holding company focused on providing consumers with healthier daily choices with respect to nutrition and other lifestyle alternatives.
Through its wholly owned subsidiary HCMC Intellectual Property Holdings, LLC, the Company manages and intends to expand its intellectual property portfolio.
Through its wholly owned subsidiaries, the Company operates:
- Ada’s Natural Market, a natural and organic grocery store offering fresh produce, bulk foods, vitamins, and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products and natural household items (www.Adasmarket.com)
- Paradise Health & Nutrition’s three stores that likewise offer fresh produce, bulk foods, vitamins and supplements, packaged groceries, meat and seafood, deli, baked goods, dairy products, frozen foods, health & beauty products and natural household items, (www.ParadiseHealthDirect.com)
- Mother Earth’s Storehouse, a two-store organic and health food and vitamin chain in New York’s Hudson Valley, has been in existence for over 40 years. (www.MotherEarthStorehouse.com)
- Greens Natural Foods’ eight stores in New York and New Jersey, offering a selection of 100% organic produce and all-natural, non-GMO groceries & bulk foods; a wide selection of local products; an organic juice and smoothie bar; a fresh foods department, which offers fresh and healthy “grab & go” foods; a full selection of vitamins & supplements; as well as health and beauty products (www.greensnaturalfoods.com)
Through its wholly owned subsidiary, Healthy Choice Wellness, LLC, the Company operates:
- Licensing agreements for Healthy Choice Wellness Centers located at the Casbah Spa and Salon in Fort Lauderdale, FL, Boston Direct Health in Boston, MA and Green Care Medical Services in Chicago, IL.
These centers offer multiple vitamin drip mixes and intramuscular shots for clients to choose from that are designed to help boost immunity, fight fatigue and stress, reduce inflammation, enhance weight loss, and efficiently deliver antioxidants and anti-aging mixes. Additionally, there are IV vitamin mixes and shots for health, beauty, and re-hydration.(www.HealthyChoiceWellness.com)
Through its wholly owned subsidiary, Healthy U Wholesale, the Company sells vitamins and supplements, as well as health, beauty, and personal care products on its website www.TheVitaminStore.com.
Additionally, the Company markets its patented Q-Unit™ and Q-Cup® technology. Information on these products and the technology is available on the Company’s website at www.theQcup.com.
Forward Looking Statements.
This press release contains forward-looking statements within the meaning of that term in the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934). Additional written or oral forward-looking statements may be made by the Company from time to time in filings with the Securities and Exchange Commission (SEC) or otherwise. Statements contained in this press release that are not historical facts are forward looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, and are based on management’s estimates, assumptions and projections and are not guarantees of future performance. The Company assumes no obligation to update these statements. Forward looking statements may include, but are not limited to, projections or estimates of revenue, income, or loss, exit costs, cash flow needs and capital expenditures, statements regarding future operations, expansion or restructuring plans, including our recent exit from, and winding down of our wholesale distribution operations. In addition, when used in this release, the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” and “plans” and variations thereof and similar expressions are intended to identify forward looking statements.
Factors that may affect our future results of operations and financial condition include, but are not limited to, fluctuations in demand for our products, the introduction of new products, our ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of our liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in our filings with the SEC.
Healthier Choices Management Corp.
3800 North 28TH Way, #1
Hollywood, FL 33020
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