By: Matt Rego
Shares of nutritional, health and wellness company, Premier Products Group, Inc. (OTC Pink: PMPG) are under fire this morning, down 35% on very strong volume. Over the past three months, Premier Products Group, Inc. (OTC Pink: PMPG) has listed average daily volume around 916,301 shares. However, nearly 13.21 million shares or $85,865 in dollar volume has exchanged hands during the trading session on Wednesday, July 13, 2016.
There is no news out today that would describe the sell off in shares of Premier Products Group, Inc. (OTC Pink: PMPG). The last update that was sent out by the company came on July 7, 2016, which detailed management’s continued plans to work through its merger with GEAR Sports Nutrition and a new corporate entity continues to be formed, in light of the acquisitions. This could be making investors nervous because acquisitions can be capital-intensive processes that can divert growth capital away from growth spending and into merger costs. In addition, investors could be worried about the new entity and its ability to compete over the long term.
Here is the press release from July 7th detailing of the company’s corporate update:
SILVER SPRING, MD — (Marketwired) — 07/07/16 — Premier Products Group Inc (OTC PINK: PMPG) today in a corporate update announced they’ve officially changed the name of the company and have begun trading under the new stock symbol PMPG, which identifies with the company’s business model of developing products within the nutraceutical, health and wellness, medical and consumer sectors. Premier is moving forward with the previously announced acquisition of GEAR Sports Nutrition, www.gearsportsnutrition.com and has identified and is pursuing several other products and potential acquisitions.
Our new corporate website is under development at www.premierpgi.com and will be launch shortly, Mr. Cliff Pope stated “while these corporate changes are not material in nature they are important first steps in the new direction of our company, and the commitment to our future growth, I look forward to keeping our shareholder well informed and building value for everyone”.
About Premier Products Group Inc.
Premier Products Group Inc. (PMPG) is a Platform for companies in the nutraceutical, health and wellness, medical and consumer product sectors with a broad target demographic. PMPG’s goal is to identify revolutionary product opportunities and create corporate infrastructure, enhance management, streamline product development, identify distribution channels and successfully bring these products to market. Being part of the PMPG team allows an entrepreneur to flourish without having the constraints of day to day corporate issues, as well provides access to capital and credit facilities to fuel growth and expansion. PMPG is building a strong portfolio of companies to drive revenues and value for our shareholders and will consistently analyze the portfolio to maintain economies of scale of each product line and our corporate platform.
For further information please visit: www.premierpgi.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company’s expectations with regard to the future impact on the Company’s results from new products in development, may be seemed to be forward-looking statements. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “believes” and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
Premier Products Group Inc.
Source: Premier Products Group Inc.