Labor Smart, Inc. (OTCID:LTNC) Retires 720 Million Shares to Treasury and Secures Strategic Go Fast Sports Agreement
Rhea-AI Summary
Labor Smart (OTCID:LTNC) has announced a significant strategic transaction involving the retirement of 720 million shares to its treasury and a deal with Golden Triangle Ventures (OTC:GTVH) regarding the Go Fast Sports brand.
Under the agreement, LTNC will transfer Go Fast Sports brand assets to GTVH in exchange for the share retirement and key provisions including: a three-year license to market and sell Go Fast Sports beverages with 25% of gross profits payable to GTVH, exclusive manufacturing rights through LTNC's UPDC facility, and mutual non-compete agreements.
The transaction represents one of the largest share reductions in company history and demonstrates LTNC's commitment to addressing shareholder concerns about the capital structure.
Positive
- Retirement of 720 million shares, significantly reducing share count and potential dilution
- Secured three-year license agreement to continue marketing Go Fast Sports beverages
- Retained exclusive manufacturing rights through UPDC facility
- 25% gross profit sharing arrangement from Go Fast Sports beverages sales
Negative
- Transfer of Go Fast Sports brand assets, trademarks, and related rights to GTVH
- Transaction subject to due diligence and final agreement execution
- Required to pay 25% of gross profits to GTVH for beverage sales
News Market Reaction
On the day this news was published, LTNC declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
JACKSON, WY / ACCESS Newswire / August 13, 2025 / Labor Smart, Inc. (OTCID:LTNC), a Jackson, Wyoming-based brand acquisition and development company, today announced the immediate retirement of 720,000,000 shares to its treasury as part of a strategic transaction involving the Go Fast Sports brand.
This action represents one of the largest share reductions in Company history and underscores LTNC's commitment to strengthening its capital structure, responding to shareholder concerns, and positioning the Company for long-term growth.
Strategic Transaction Overview
As part of the agreement with Golden Triangle Ventures, Inc. (OTC:GTVH), LTNC will transfer all Go Fast Sports brand assets, trademarks, inventory, and related rights to GTVH. In return, LTNC receives the retirement of 720 million shares, along with several provisions designed to ensure ongoing value creation for the Company:
Three-year license to market and sell Go Fast Sports beverages, with
25% of gross profits payable to GTVH.Exclusive manufacturing rights through LTNC's wholly-owned United Production & Distribution Co. (UPDC) facility.
Mutual non-compete and distribution agreements to protect the strategic interests of both companies.
Leadership Commentary
"This transaction is a decisive and positive step for LTNC shareholders," said Tom Zarro, Chairman of Labor Smart, Inc. "We have reduced our share count by hundreds of millions in a single move, strengthened our balance sheet, and retained the ability to continue producing and selling Go Fast Sports. At the same time, this positions us to direct more resources toward other high-growth opportunities in our portfolio. I've always said we've had a desire and a vision, now we have a plan, and this was a first step to address the share structure, one of many more to come. "
Brad Wyatt, CEO of Labor Smart, Inc., added:
"Shareholders made their voices heard last week regarding authorized shares, and we took immediate action to demonstrate our commitment to protecting and enhancing long-term value. Retiring 720 million shares is only the beginning - we have additional share structure initiatives planned that will further improve our capital profile and reduce potential dilution. Our focus is clear: build sustainable value, strengthen our brands, and deliver measurable results."
The Go Fast Sports transaction remains subject to customary due diligence, execution of a definitive Asset Purchase Agreement, and other standard closing conditions.
About Labor Smart, Inc. (OTCID:LTNC)
Labor Smart, Inc., headquartered in Jackson, Wyoming, is a dynamic brand acquisition and development company focused on building high-growth businesses in the beverage, lifestyle, and wellness sectors. Through strategic partnerships, innovative products, and a scalable infrastructure, LTNC is committed to delivering long-term value to its shareholders.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created by such sections and the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates," "believes," "estimates," "expects," "intends," "plans," "projects," "may," "will," "should," "could," "potential," "continue," and similar expressions. These forward-looking statements are based on current expectations, estimates, and projections about the Company's industry, management's beliefs, and certain assumptions made by management, and are not guarantees of future performance.
Investor Relations Contact: ir@laborsmartinc.com
SOURCE: Labor Smart, Inc.
View the original press release on ACCESS Newswire
FAQ
How many shares did Labor Smart (LTNC) retire in August 2025?
What are the key terms of LTNC's Go Fast Sports agreement with Golden Triangle Ventures?
How will the Go Fast Sports deal affect LTNC shareholders?
What percentage of gross profits will LTNC pay to GTVH for Go Fast Sports beverages?
Is the Go Fast Sports transaction between LTNC and GTVH final?
