LAS VEGAS, March 31, 2022 /PRNewswire/ — Nitches Inc., (NICH) (the “company”) which blends high-tech with high-end fashion to create exclusive clothing lines and NFTs, today announced 189,000,000 of common shares are in the process of being returned and cancelled, which reduces the company’s outstanding common shares to 39,659,644 from 229,659,644. Nitches reached an agreement with two shareholders that will result in the retirement of around 80 percent of its common shares.
“Nitches continues to diligently protect the value of our common stock for shareholders,” said John Morgan, Nitches CEO. “Our company takes great pride in being an excellent corporate citizen and conducting ourselves with exemplary integrity and ethics in our business and relations with all stakeholders.”
Nitches is also negotiating to reduce some of the company’s debt to a more standard note of a 50 percent discount to market. Nitches has created two luxury capsule collections with Nick Cooper, superstar vocal coach from American Idol, and John Lewis, the “BadAss Vegan” influencer and filmmaker. The iconic streetwear clothing lines feature a limited number of hoodies, hats and more. Nitches works one-on-one with celebrities from design concept through final manufacturing to deliver high-quality items that reflect the personalities’ unique brands. The celebrities help market the products to their fanbases via their social media sites.
About Nitches Corporation
Nitches is a diversified technology and exclusive clothing company that blends high-tech with high-end fashion to design luxury clothing items and NFTs. We specialize in creating limited-edition athleisure and streetwear apparel and accessories that are sustainable, authentic and exclusive. We collaborate with fashion-forward influencers and celebrities to create capsule collections that reflect their vision and brand. We develop innovative technology to protect our intellectual property and prevent counterfeiting. Nitches strives for creativity, excellence and value in all that we do for our collaborators, customers and stakeholders.
Forward Looking Statements:This press release contains forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Factors or events that could cause our actual results to differ may emerge, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.