Alliance Creative Group (ACGX) Releases Shareholder Letter and Announces Reverse Stock Split
For Immediate Release: August 22, 2019
Chicago, IL –Alliance Creative Group, Inc., a Nevada corporation (the “Company”) (http://www.AllianceCreativeGroup.com) (Stock Symbol OTC: ACGX) announced the effectiveness of its reverse stock split (the “Reverse Split”).
Under the terms of the Reverse Split, for each four thousand (4,000) shares of the Company’s existing Common Stock (the “Old Shares”) will be exchanged for one (1) (new) share of the Company’s Common Stock (the “New Share”). Fractional shares will be rounded up to the nearest whole number of shares.
The Reverse Split becomes effective as of the market open on August 23, 2019 and as a result the Company will have less than 600,000 common outstanding shares after the Reverse Split.
The Company also issued a detailed shareholder letter to help clarify any confusion related to any of the recent Company actions or disclosures. The full letter is on the OTC Market Company website at www.OTCmarkets.com under the stock symbol ACGX in the section for filings and disclosure and on www.ACGX,us in the investor relations section under filings.
Paul Sorkin, COO and General Counsel of the Alliance Creative Group, Inc., said “The Company has gone through multiple changes these last few years. Some of those changes have been positive and some negative but we have learned from everything and we believe the difficult choices we have made will provide for a better potential future for all shareholders. The last time the Company reversed the stock was almost 9 years ago and this the Reverse Split was only undertaken after significant discussions and multiple evaluations over a period of several months wherein many alternatives were explored and evaluated with a full review of the potential pros and cons for the Company and shareholders. However, due to multiple factors, including but not limited to, up-listing requirements, clearing house parameters, market maker potential involvement, shareholder visibility, potential liquidity, potential future investors, potential future acquisitions, and general market conditions the Company believes the Reverse Split was the best available option for the Company and shareholders. Given these considerations, we are hopeful that the Reverse Split may, if circumstances and market conditions allow: (a) create a more favorable position for the Company; (b) allow the Company’s common stock to become a more attractive investment vehicle; (c) allow the Company’s Common Stock to achieve a more sustainable value in the market; (d) allow the Company to generally utilize its Common Stock in making acquisitions (if circumstances and market conditions allow); and (e) better create a more sustainable trading market for the Company’s Common Stock that may better facilitate the maximization of shareholder wealth. During the 1st and 2nd Quarters of 2019 we were able to improve our gross profits and internal efficiencies. There is no guarantee we can continue these improvements, however, we are prepared to re-focus on growing some of our core competencies. We believe we are re-positioned well to evaluate future opportunities and will inform the public as more things are completed or decided. Based upon recent trading levels we believe the stock is deeply undervalued.”
About Alliance Creative Group, Inc.
Alliance Creative Group, Inc. (Stock Symbol: ACGX) is a small Packaging Solutions Company focused on Retail Packaging and Packaging Management. The Company helps its clients from initial concept and packaging development through final production and managed inventory solutions. The Company’s core business has been around since 1997. The Company is primarily focused on providing solutions for flexible and clear packaging, folding cartons, vendor managed inventory supply chain services and fulfillment. Additional services include but are not limited to corrugated boxes, commercial printing, labels, and other products and services related to the printing or packaging of consumer products.
The Company has expertise that allows it to provide high-quality packaging and printed products. Overall the Company experience includes very hands-on operational support out of 8 different warehouse locations and several national and international manufacturing partners. The Company seeks to provide customer support during the entire product process or cycle including but not limited to creating, warehousing, delivering, and replenishing their packaging products.
For more information, visit www.AllianceCreativeGroup.com or www.ACGX.us.
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FORWARD-LOOKING STATEMENTS DISCLAIMER
This news release contains forward-looking statements as defined by the bespeaks-caution doctrine. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. These statements are subject to uncertainties and risks including, but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks described in statements filed from time to time with OTC Markets.
All such forward-looking statements, whether written or oral, and whether made by or on behalf of the Company, are expressly qualified by the cautionary statements that may accompany the forward-looking statements. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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