(MENAFN- PR Newswire) FORT LAUDERDALE, Fla., March 27, 2023 /PRNewswire/ -- Golden Grail Technology doing business as Golden Grail Beverages, (OTC: GOGY), wants our shareholders to know that the company emphatically disputes the Caveat Emptor designation that was placed on GOGY's profile by OTC Markets after the market closed on Friday March 24th, 2023, and that management will pursue every available option to correct this issue.
Golden Grail put out a press release on the morning of Friday the 24th regarding the promotional emails that had been sent without the company or management's consent or knowledge.
In fact, we were not aware of these emails until management reached out to OTC Markets to inquire about the reason it had been given the "Stock Promotion" designation.
Once the company was notified of the promotional activity, we engaged legal counsel and sent cease and desist letters to the senders of the promotional activity.
We have been unable to see any mention of Golden Grail on the websites related to the email handle of the senders, or find any real person or company associated to these email handles.
The email sent on March 14th actually recommended that GOGY shareholders sell their stock, which makes it ludicrous to believe that the company would send that email as it defeats the purpose of a promotional email aimed at increasing the price of GOGY stock.
Our investigation concludes that these emails have been sent by short sellers not only to negatively impact the trading of GOGY's stock, but also as a last resort tactic to make it look like Golden Grail is engaging in promotional activity affecting our OTC Markets status.
The company is not aware of any other promotional activity, and OTC Markets has not brought any other promotional or questionably activity to our attention.
Golden Grail's legal counsel is already in contact with the OTC Markets Surveillance Department, and we want our shareholders and the public to know that we will take every action needed to combat bad actors and short selling and have OTC Markets immediately remove the Caveat Emptor designation.
"It is an unprecedented move by OTC Markets to give the Caveat Emptor designation to GOGY for three promotional emails in two months that were clearly not sent, authorized, or benefited Golden Grail.
We looked at reasons other companies were given the Caveat Emptor designation in the last year, and it has been for providing false information in their filings, SEC action, and/or failing to file their financials.
Golden Grail is current in all of our filings, and in fact as mentioned in our announcement on March 21st, we recently engaged Salberg & Co. as the Company's Independent Auditor" declared Golden Grail CEO Steven Hoffman.
Golden Grail Beverages (OTC: GOGY) is a fast-growing company with a strategic mission to innovate, build and streamline the growth of its beverage portfolio through fiscally responsible investing. The company targets brands with a proven sales history, loyal consumer following, retail presence and strong value proposition who need assistance to get to the next few levels. Golden Grail has been actively acquiring brands within emerging and growing beverage categories. Our robust product offerings include Sway Energy Drink, Spider Energy Drink, Trevi Fruit Essence Water, Tickle Water, Sketch Can for Tweens, Cause Water & KOZ Water helping reduce global plastic pollution and Scorpion Energy Hemp/CBD.
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition. Also, it includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Golden Grail Technology Corp