Leafbuyer Technologies, Inc. Issues Statement about Promotional Activity Involving Its Common Stock
DENVER: Leafbuyer Technologies, Inc. ("Leafbuyer" or the "Company") (OTCQB: LBUY), a leading cannabis technology platform, announced that it has been requested by OTC Markets Group, Inc. to comment on recent promotional activity regarding its common stock, which is quoted on OTC Markets. In June 2019, the Company entered into an investor relations agreement with Promethean Marketing, Inc., for a total of $50,000.00, paid directly by the Company, as consideration for general marketing services to increase investor awareness of, and engagement with, the Company, as well as increased web traffic growth and presence.
On July 16th, 2019, OTC Markets informed the Company that it had received copies of a promotional newsletter and an email promoting the Company. The source of the promotional material was neither the Company, nor any of its officers, directors or significant shareholders, nor any of its third-party service providers. However, Promethean Marketing, Inc. generates web-traffic to websites that speak to the Company's activities. Therefore, according to the Company, during the course of its work, Promethean Marketing, Inc. may have directed web-traffic to a website hosting the promotional material. The Company did not have any editorial control over the content in the promotional material.
The Company is unaware of any effect on the trading activity of the Company’s common stock since the Company’s common stock traded with similar or greater volume and at higher prices prior to the retention of Promethean in June 2019. For example, on June 3rd, 2019, the date Promethean was engaged, the common stock closed at $.83. Moreover, the Company has previously issued several press releases and has filed SEC reports containing information regarding the Company's business, opportunities, business plans, and recent securities offerings necessary to affect the business plan.
The Company's recent press releases have reported on and provided disclosure of legitimate and ongoing corporate activity only and are not part of any promotional activities or campaign.
After inquiry, the Company states definitively that its officers, directors and, to the Company's knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Company's securities), of which there are only three, have not sold or purchased the Company's securities within the past 90 days on the open market. The promotional material primarily consisted of previously disclosed and available information. After a review of the material, the statements contained therein are neither materially false nor misleading.
Additionally, while the Company has sold securities at a discount to market, such offerings are completely unrelated to Promethean or any other party.
During the previous 12 months, the Company engaged Midram, Tradigital and Promethean Marketing, Inc. to provide investor relations services, public relations services, marketing services or promotional services.
About Leafbuyer Technologies, Inc.:
Leafbuyer.com is one of the most comprehensive online sources for cannabis deals and information. Leafbuyer works alongside cannabis businesses to showcase their unique products and build a network of loyal patrons. The company’s online network reaches millions of marijuana consumers monthly.
