Santa Monica, CA, Aug. 03, 2021 (GLOBE NEWSWIRE) -- Oliveda International, Inc. (OTC Pink: OLVI), a leading international natural cosmetics and wearable beauty and health technology innovator, today announced that a Regulation A+ Tier 2 offering to raise up to $15 million for its wholly owned Olive Tree People Inc. subsidiary has been qualified by the Securities and Exchange Commission (SEC). For the offering, Olive Tree People Inc. common stock has been priced at $1.25 per share, and Oliveda International, Inc. has received an additional 63 million common shares of Olive Tree People Inc. stock, increasing its common stock position in Olive Tree People Inc. to 64 million shares, a total value of $80 million.
The offering price and shares received by Oliveda International, Inc. were determined, in part, by an internal valuation of Olive Tree People. Prior to the planned offering, management valued Olive Tree People Inc. at approximately $87 million using a 12 times gross revenue multiple based on the company's 2020 audited financials.
A maximum of 12 million shares of Olive Tree People Inc. common stock will be issued as part of the offering. Even if all shares in the offering are sold, Oliveda International, Inc. will still hold approximately 84% of the Olive Tree People common stock.
Proceeds of the planned offering are currently targeted for expansion of Oliveda operations in the United States, including new Oliveda flagship stores in Los Angeles (Abbot Kinney Boulevard area), New York, San Francisco, and Miami; broader marketing of Oliveda products throughout the country; ownership of olive tree groves, the launch of new products; and potentially the acquisition of additional beauty and health companies.
Olive Tree People Inc., which owns 100% Oliveda Deutschland GmbH, a German limited liability company with over 20 years' experience in manufacturing and distributing cosmetic and holistic products, recently filed an amendment to its articles of incorporation in the State of California to change its name from "Oliveda Group, Inc." to "Olive Tree People Inc." The name change has taken effect, and the company now operates as Olive Tree People Inc.
About Oliveda International, Inc. Founded in 2003 by German real estate investor Thomas Lommel, Oliveda International, Inc. is a leading international natural cosmetic company in the premium segment. The company has also developed a globally unique wearable beauty and health technology. In addition to online sales and a global branch network of 650 retail stores, the company's wholly owned Oliveda Deutschland GmbH second-tier subsidiary operates flagship stores, Olive Tree Pharmacy, in Berlin and Dusseldorf with plans to open new locations in Los Angeles, Taipei and Seoul. Overall, the company believes that it will be able to operate a total of 60 of its own flagship stores worldwide and increase the retail store network worldwide to 1,200 over the next five years. Through subsidiary operations, Oliveda International is the largest investor in eco-certified mountain olive trees as well as the largest conservationist in Arroyomolinos de Leó, Spain. Further information on Oliveda International can be found at http://www.oliveda.com, https://us.olivetreepeople.com.
Forward-Looking StatementsThis press release may contain statements, estimates or projections that constitute "forward-looking statements" pursuant to the safe harbor provisions of the U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties, which may be found in the Company's filings with OTC Markets Group Inc., that could cause actual results to differ materially from the Company's historical experience and present expectations or projections. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Company expressly disclaims any obligation or intention to publicly update or revise any forward-looking statements unless otherwise required by law.
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