Healthy Extracts Prepares for NYSE American Listing with Reverse Stock Split

LAS VEGAS, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Healthy Extracts Inc. (OTCQB: HYEX, HYEXD), a platform for acquiring, developing, patenting, marketing, and distributing plant-based nutraceuticals that target select high-growth categories within the multibillion-dollar nutraceuticals market, will effect a 1-for-120 reverse split of its common stock, effective at the opening of the market tomorrow, Friday, December 29, 2023.   

The reverse stock split will be implemented in connection with the company’s intention to uplist the company's common stock to the NYSE American. The reverse split is intended to fulfill the stock price requirements for a listing on the NYSE American stock exchange, which requires that the company's common stock be priced at $3.00 or higher at the time of listing. The company is taking steps to satisfy other requirements, but there can be no assurance that the company will meet all the requirements for uplist.

Post-split, the company’s common stock will begin trading under the symbol “HYEXD” to indicate its post-split status. After 20 business days, the stock will return to trading under the symbol “HYEX.” 

“This reverse split represents another major step toward our common stock being traded on a listed U.S. exchange,” commented Healthy Extracts president, Duke Pitts. “We believe a NYSE American listing will elevate our visibility and broaden awareness of our success in the financial community, particularly with institutional and retail investors, and provide our shareholders with greater liquidity and enhance shareholder value. 

“These benefits will be timely, as we prepare to announce a number of new products that will leverage our multiple sales and distribution channels and our broadening customer base, and as we continue to pursue growth both organically and through strategic acquisitions that can also leverage our broad distribution platform.” 

Over the last year, Healthy Extracts has seen an acceleration in its operational and financial performance. The company recently reported its net revenue on a trailing twelve-month basis increased 25% to $2.6 million, primarily due to product line and distribution channel expansion.

As a result of the split, every 120 shares of issued and outstanding common stock will be exchanged for one share of common stock. Each stockholder’s percentage ownership interest in Healthy Extracts and proportional voting power will remain unchanged, and the rights and privileges as the holders of the common stock will be unaffected.