NOHO, INC. AND LIFETIME BRANDING AGREE TO EXCHANGE DEBT FOR EQUITY
NOHO, Inc. (OTC PINK: DRNK) announced a debt-for-equity exchange with Lifetime Branding Collaborative, LLC, eliminating $600,000 in debt. This strategic move positions the company to strengthen its market presence in nutrition without immediate dilution of common stock. The CEO highlighted the partnership's potential for brand building. Additionally, NOHO confirmed the shipment of all initial orders for its product, After Shot, and announced upcoming product launches utilizing Hydro-Nano technology.
- Debt reduction of $600,000 through equity exchange.
- No immediate dilution to common stock.
- Strengthened market position in the nutrition sector.
- None.
Scottsdale, Arizona, Aug. 26, 2021 (GLOBE NEWSWIRE) -- NOHO, Inc. (OTC PINK: DRNK), a Wyoming corporation (the “Company”), announced the following:
The Company is proud to announce its agreement with Lifetime Branding Collaborative, LLC to exchange its debt for equity, forging a long-term partnership created to make NOHO a market leader in nutrition.
Pursuant to the agreement, Lifetime is forgiving
NOHO’s CEO, David Mersky, said, “This is a great deal for NOHO and Lifetime, and it sends a strong message to the market that NOHO is now positioned to lead the way in nutritional recovery. There is no one better in brand building than Eric Stoll and, as an equity partner leading NOHO’s marketing, we’re going to be dangerous.”
The After Shot ships!
We are also confirming that all initial orders of the After Shot have been shipped from our fulfillment center in California. The buildout of the site will continue, with additional content coming online regularly.
More from NOHO – in addition to the After Shot, we have developed a new line of products, all leveraging Hydro-Nano technology, which will be rolling out soon. For additional information and product updates, please follow us at www.nohoshot.com and follow NOHO on Twitter at https://twitter.com/NOHOdrink
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute 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. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of Noho, Inc. (the “Company”), its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and actual results may differ materially from those projected in the forward looking statements as a result of various factors. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
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FAQ
What is the debt amount NOHO, Inc. (DRNK) exchanged for equity?
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