Exxe Group Outlines Shareholder-Friendly Debt Restructuring Plan

Rhea-AI Summary

Exxe Group, Inc. (OTC PINK:AXXA) has announced a shareholder-friendly debt restructuring plan addressing approximately $5 million in debt. This initiative aims to lower debt servicing costs and enhance cash liquidity by restructuring certain debt maturities, extending them by up to 60 months, and eliminating toxic convertible debt totaling $238,124. Creditor negotiations are expected to yield better terms, minimizing impacts on share count and maximizing long-term appreciation potential for shareholders. The changes will be reflected in the Q1 2022 balance sheet.

Positive

• Debt restructuring plan reduces interest expenses.
• Toxic debt totaling $238,124 eliminated with no shares issued.
• Negotiated better terms on $538,521 of debt.
• Future creditor negotiations may extend debt windows by up to 60 months.

Negative

• None.

• Restructuring plan lowers debt servicing costs and improves cash liquidity
• Certain debt maturities are to be eliminated or extended by up to 60 months
• Plan currently addresses approximately $5 million of debt

NEW YORK, NY / ACCESSWIRE / June 14, 2021 / Exxe Group, Inc. (OTC PINK:AXXA), a diversified fintech company, is pleased to outline a shareholder-friendly debt restructuring plan that addresses certain indebtedness currently approximating to $5 million.

Eduard Nazmiev, Ph.D., Exxe Group's CEO said: "Exxe Management has worked for several years to improve the balance sheet. With consistent revenue improvements and profits spanning several Quarters, Management is addressing corporate liabilities. We are accordingly very grateful for the kind cooperation extended to us by our creditors."

Debt Restructuring Overview

Exxe Groups' debt restructuring plan is a series of debt profile optimizations that reduce interest expenses, reprofiles maturities on certain debts by up to 36 months, minimizes impacts to the outstanding share count, and maximizes long-term appreciation potential for AXXA shareholders.

The plan currently covers in-default debt totaling $5 million and near-term maturities totaling $5 million. Changes will be reflected on the Q1 2022 balance sheet and detailed in the corresponding notes section.

Exxe has already identified $238,124 in possible toxic convertible debt from the corporate balance sheet. This debt has been eliminated from the balance sheet with no shares issued in conjunction with this elimination.

As a result of eliminating identified possible toxic debt conversions, Exxe renegotiated an additional $538,521 of debt with other creditor groups. These reprofiled debts now have significantly improved terms, various maturity windows ranging up to 36 months, and the option of additional extensions.

The Company is also entering a series of additional creditor negotiations with the expectation of debt windows being extended by up to 60 months. To this end, Exxe Group will release additional updates in the coming weeks and months.

About Exxe Group, Inc.
Exxe Group is a diversified fintech corporation focusing on acquisitions in the following sectors: real estate, sustainable technology, media, agribusiness, and financial services. Exxe Group is an acquisition-driven company. The Company strategy is to acquire controlling equity interests in undervalued companies and undertake an active role in improving their performance - accelerating their growth by providing both access to capital and management expertise. For additional information go to www.exxegroup.com

CONTACT: Exxe Group IR: info@exxegroup.com

Forward-Looking Statements
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. In some cases, you can identify forward-looking statements by the following words: 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'intend,' 'may,' 'ongoing,' 'plan,' 'potential,' 'predict,' 'project,' 'should,' 'will,' 'would,' or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release.

SOURCE: Exxe Group, Inc.

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https://www.accesswire.com/651611/Exxe-Group-Outlines-Shareholder-Friendly-Debt-Restructuring-Plan

FAQ

What is Exxe Group's debt restructuring plan?

Exxe Group's debt restructuring plan focuses on addressing approximately $5 million in debt, lowering servicing costs, and extending maturities to improve cash liquidity.

How much toxic debt has Exxe Group eliminated?

Exxe Group has eliminated $238,124 in toxic convertible debt from its balance sheet.

When will the changes from the restructuring plan be reflected?

The changes from the debt restructuring plan will be reflected in Exxe Group's Q1 2022 balance sheet.

What is the long-term benefit of Exxe Group's debt restructuring for shareholders?

The debt restructuring aims to maximize long-term appreciation potential for AXXA shareholders by minimizing impacts on the outstanding share count.