Business Warrior Announces $3M Addition to Balance Sheet and Several Key Updates

Rhea-AI Summary

Business Warrior Corp. (OTC PINK:BZWR) announces a $3 million addition to its balance sheet, strengthening its financial position at the start of 2022. Key updates include plans for an upcoming Business Warrior Funding platform launch on February 1, 2022, and progress on a two-year audit aimed at becoming a fully reporting entity. The company is also in due diligence for an acquisition, which is expected to conclude in Spring 2022. A revised agreement with EVRGRN allows for $3 million upfront collection, enhancing growth potential.

Positive

• Addition of $3 million to the balance sheet strengthening financial position.
• Official launch of Business Warrior Funding scheduled for February 1, 2022.
• Revised agreement with EVRGRN allows for immediate $3 million collection, enhancing growth opportunities.
• Progress on a two-year audit, with plans to uplist to OTCQB following completion.

Negative

• Ongoing delays in completing the two-year audit, causing frustration among stakeholders.
• Increased demand for PCAOB accountants contributing to audit delays.

Key updates regarding funding solution, corporate audit and potential acquisition

PHOENIX, AZ / ACCESSWIRE / January 12, 2022 / Business Warrior Corp. (OTC PINK:BZWR), the source for small businesses in America to get more customers, announces the addition of $3 million to the balance sheet along with several other key updates showing a strong start to 2022.

The company also announces status updates to several key topics, including:

• An update on the company's audit to become fully reporting
• The official launch date of the Business Warrior Funding platform
• The company in due diligence for an acquisition

EVRGRN Partnership

The recently announced $5 million agreement with EVRGRN has been reworked to allow $3 million to be collected up-front by Business Warrior and the remaining $2M to be held back for additional growth opportunities. This is a win-win for both companies. The $3 million has been received by BZWR, which further strengthens the company's balance sheet while giving EVRGRN the flexibility to pursue additional opportunities to add to the overall project together.

"Renegotiating this agreement is a huge growth accelerator for us as a corporation," explains Business Warrior CEO Rhett Doolittle. "It also provides instant marketing and sales support to bolster the development and growth of our next-generation lending solution, Business Warrior Funding."

Business Warrior Funding Launch

The launch date of Business Warrior Funding is scheduled to go live to the public on February 1, 2022.

"The funding solution is currently in beta as we continue to develop and test this trailblazing product for small businesses," said Doolittle. "We have adjusted our timeline to ensure we deliver a high-quality, robust customer experience."

Update on Financial Audit

The completion of Business Warrior's two-year audit remains in-progress for fiscal years ending in August 31, 2021, and August 31, 2020.

"We understand that this delay is frustrating for our stakeholders and shareholders," explains Dolittle. "It is taking longer than expected as we implement new processes to become a fully reporting entity and make our financial systems scalable with the rest of our organization. Additionally, with the current COVID-19 landscape, there has been increased demand for PCAOB accountants and a lack of qualified professionals. We are pressing to complete the audit as soon as possible and then moving forward immediately with the next steps to uplist to OTCQB."

By adhering to periodic filing requirements, Business Warrior will advance on its plan to uplist to the OTCQB Venture Market in support of its broader growth strategy after completing the two-year audit.

Potential Acquisition enters Letter of Intent

Business Warrior is in the process of completing its due diligence and has executed a Letter of Intent for an acquisition. The acquisition is targeted to be completed in the Spring of 2022 and the company will be sharing more details as it progresses.

About EVRGRN

EVRGRN is a fintech company focused on servicing, technology and distribution for their lending partners. The company was founded in 2019 and had an impressive first year in providing loan servicing solutions during the Paycheck Protection Program, where they processed 1.1 million loans, for a total of $17.4 billion dollars in funding. EVRGRN offers a wide combination of solution sets supporting client-centric models while focusing on providing their partners with leading edge technology. To learn more, visit https://www.goevrgrn.com/.

About Business Warrior

Business Warrior is the source for small businesses in America to enhance their brand and boost marketing results. The Business Warrior software takes a holistic view of a business's online reputation, listings, website search results and social media. Predictive algorithms are utilized to recommend the most imperative actions needed to drive new customers, positively impact daily operations and improve profitability. For more information, please visit BusinessWarrior.com.

Forward Looking Statements:

This press release and the offering materials may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Forward-looking statements are neither historical facts nor assurances of future performance. They are based on the current beliefs of, assumptions made by, and information currently available to the company's management regarding the future of the company's business, future plans and strategies, anticipated events and trends, the economy and other future conditions. When used in the offering materials, the words "aim," "estimate," "project," "believe," "anticipate," "intend," "envision," "estimate," "expect," "future," "goal," "hope," "likely," "may," "plan," "potential," "seek," "should," "strategy," "will" and similar references to future periods are intended to identify forward-looking statements, which constitute forward looking statements. These statements reflect management's current views with respect to future events and are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict (many of which are outside of the company's control) and could cause the company's actual results to differ materially from those contained in the forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. All subsequent written and oral forward-looking statements concerning the company, the offering or other matters, are expressly qualified in their entirety by the cautionary statements above. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.

Investor Relations:
Jonathan Brooks
Investors@BusinessWarrior.com
(855) 884-5805

SOURCE: Business Warrior Corporation

View source version on accesswire.com:
https://www.accesswire.com/683094/Business-Warrior-Announces-3M-Addition-to-Balance-Sheet-and-Several-Key-Updates

FAQ

What is the recent funding update for Business Warrior Corp. (BZWR)?

Business Warrior Corp. announced a $3 million addition to its balance sheet, enhancing its financial position.

When will the Business Warrior Funding platform launch?

The Business Warrior Funding platform is scheduled to launch on February 1, 2022.

What is the status of Business Warrior's financial audit?

The two-year audit is still in progress, causing delays for stakeholders.

Is Business Warrior Corp. pursuing any acquisitions?

Yes, Business Warrior is conducting due diligence for an acquisition, expected to complete in Spring 2022.