House of Jane Inc. Names Ben-David Sheppard as Chief Strategy Officer of House of Jane LLC
PHOENIX, Feb. 5, 2019
PHOENIX, Feb. 5, 2019 /PRNewswire/ -- House of Jane Inc. (the "Company") announced today that Ben-David Sheppard has been named chief strategy officer of House of Jane LLC, the Company's operating subsidiary. In 2014, Mr. Sheppard co-founded General Beverage Consulting & Management LLC ("GBCM") and was instrumental in the development of the House of Jane™ and Jane's Brew™ brands. Prior to GBCM, he founded The American Renewable Fuel Institute. Since 1990, Mr. Sheppard has worked in the executive recruiting business, in which he is still involved, as sole owner of Talent Acquisition LLC.
"We are excited to have Ben-David join the leadership team of our company," said Thomas Quigley, CEO of House of Jane LLC. "Ben's acumen for deal-making, brand development and recruitment will be invaluable to us as chief strategy officer. His network and relationships with some of the largest licensed growers, distributors and industry experts make Ben-David an ideal leader for our emerging hemp-derived CBD brands."
"I am thrilled with the opportunity to re-connect with House of Jane™ and Jane's Brew™," stated the newly named chief strategy officer. "I cannot be more excited to work with Tom Quigley to lead the development and expansion of these great established California-born brands."
The Company also announced today that it has extended the expiration date of the "Special Exercise Price" for its outstanding Series A Warrants until Feb. 28, 2019, and increased the limit of the amount it would accept from exercises of the warrants at the Special Exercise Price to $750,000. The Company had previously announced a temporary 60-day reduction of the exercise price for its outstanding Series A Warrants to $1.25 per share, expiring Jan. 29, 2019, to fund the expansion and operation of its House of Jane™ business. The Company had previously set a limit of the amount that it would accept from exercises of the warrants at the Special Exercise Price at $500,000.
The Company also announced today a reverse stock split and stock dividend to cause all stockholders to own a minimum of 100 shares of the Company's common stock ("Even Lots"). One share of the Company's common stock was issued for each 100 shares previously outstanding ("Reverse Split") and any fractional share resulting was rounded up to the next highest number. Upon consummation of the Reverse Split, the Company declared a stock dividend whereby it distributed 99 additional shares for each share of common stock outstanding immediately after the Reverse Split (the "Stock Dividend"). The Reverse Split was effective as of 5 p.m. on Jan. 31, 2019, and the Stock Dividend was effective as of 7:59 a.m. on Feb. 1, 2019. This action resulted in an additional 11,232 shares being issued for rounding and all 225 stockholders of record holding an Even Lot. The Company has 9,895,500 shares of common stock outstanding as of Feb. 1, 2019.
About the Company: The Company is promoting its House of Jane™ and Jane's Brew™ brands nationally and sells its federally legal hemp-derived CBD products via online, health stores and other distribution channels. The Company will also seek to add to its brand portfolio through acquisition and/or licensing arrangements. The Company has offices in Phoenix, Arizona, and Riverview, Florida.
Forward-Looking Statements: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be attained. Such statements are inherently uncertain, and actual results and activities may differ materially from those estimated or projected. Certain factors that can affect the Company's ability to achieve its anticipated results include, among others, uncertainties inherent in the development of a new business.
Frederic J. Buonincontri
1 N 1st Street, Suite 654
Phoenix, AZ 85004
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SOURCE House of Jane Inc.