Forte Group Announces Formation of Wholly-Owned Subsidiary to Expand Brand Partnership Opportunities
Forte Group Holdings has announced the formation of a new wholly-owned subsidiary, Forte Group Entertainment, effective November 1, 2024. This strategic move aims to expand brand partnership opportunities across the company's portfolio, including TRACE BLACKwater and nutraceutical brands. The subsidiary will focus on pursuing collaborations with brand spokespersons and synergistic partnerships. Additionally, the company has converted a secured promissory note of $47,064.70 from Naturo Group Enterprises into 90,508 common shares at $0.52 per share, improving its financial stability by reducing outstanding debt.
Forte Group Holdings ha annunciato la creazione di una nuova controllata, Forte Group Entertainment, con effetto dal 1 novembre 2024. Questa mossa strategica mira ad ampliare le opportunità di partnership del marchio nel portafoglio dell'azienda, inclusi TRACE BLACKwater e i marchi nutraceutici. La controllata si concentrerà sulla ricerca di collaborazioni con portavoce del marchio e partnership sinergiche. Inoltre, l'azienda ha convertito un prestito garantito di $47.064,70 da Naturo Group Enterprises in 90.508 azioni ordinarie a $0,52 per azione, migliorando la sua stabilità finanziaria riducendo il debito residuo.
Forte Group Holdings ha anunciado la formación de una nueva subsidiaria de propiedad total, Forte Group Entertainment, que entrará en vigor el 1 de noviembre de 2024. Este movimiento estratégico tiene como objetivo expandir las oportunidades de asociación de marca en el portafolio de la compañía, incluyendo TRACE BLACKwater y marcas nutracéuticas. La subsidiaria se enfocará en buscar colaboraciones con portavoces de la marca y asociaciones sinérgicas. Además, la empresa ha convertido un pagaré garantizado de $47,064.70 de Naturo Group Enterprises en 90,508 acciones comunes a $0.52 por acción, mejorando su estabilidad financiera al reducir la deuda pendiente.
Forte Group Holdings는 2024년 11월 1일부터 효력이 발생하는 새로운 완전 소유 자회사 Forte Group Entertainment의 설립을 발표했습니다. 이 전략적 조치는 TRACE BLACKwater 및 영양 보충제 브랜드를 포함한 회사 포트폴리오 전반에 걸쳐 브랜드 파트너십 기회를 확대하는 것을 목표로 하고 있습니다. 자회사는 브랜드 대변인과의 협력 및 시너지를 창출하는 파트너십을 추구하는 데 집중할 것입니다. 또한, 회사는 Naturo Group Enterprises로부터의 $47,064.70의 담보 약속어음을 주당 $0.52로 90,508주로 전환하여 미지급 채무를 줄이며 재정적 안정성을 높였습니다.
Forte Group Holdings a annoncé la création d'une nouvelle filiale entièrement détenue, Forte Group Entertainment, qui prendra effet le 1er novembre 2024. Ce mouvement stratégique vise à élargir les opportunités de partenariat de marque dans le portefeuille de l'entreprise, y compris TRACE BLACKwater et des marques nutraceutiques. La filiale se concentrera sur la recherche de collaborations avec des porte-parole de marque et des partenariats synergiques. De plus, l'entreprise a converti un billet à ordre garanti de 47 064,70 $ de Naturo Group Enterprises en 90 508 actions ordinaires à 0,52 $ par action, améliorant ainsi sa stabilité financière en réduisant la dette en cours.
Forte Group Holdings hat die Gründung einer neuen hundertprozentigen Tochtergesellschaft, Forte Group Entertainment, angekündigt, die am 1. November 2024 in Kraft tritt. Dieser strategische Schritt soll die Partnerschaftsmöglichkeiten für Marken im Portfolio des Unternehmens erweitern, einschließlich TRACE BLACKwater und nutraceutical Marken. Die Tochtergesellschaft wird sich darauf konzentrieren, Kooperationen mit Markenbotschaftern und synergetischen Partnerschaften zu verfolgen. Darüber hinaus hat das Unternehmen einen gesicherten Schuldschein über 47.064,70 USD von Naturo Group Enterprises in 90.508 Stammaktien zu je 0,52 USD umgewandelt, was seine finanzielle Stabilität verbessert, indem es die ausstehenden Schulden reduziert.
- Debt reduction through conversion of $47,064.70 promissory note into equity, improving balance sheet
- Strategic expansion through new entertainment subsidiary to enhance brand partnerships
- Share dilution from issuance of 90,508 new shares
VANCOUVER, BC / ACCESSWIRE / November 7, 2024 / Forte Group Holdings Inc. (CSE:FGH)(OTC PINK:FGHFF)(FSE:7BC0) (WKN: A40L1Z ) ("Forte Group" or the "Company"), a diversified lifestyle and wellness consumer packaged goods company, announces the formation of a new wholly-owned subsidiary, Forte Group Entertainment Inc.("Forte Group Entertainment") effective November 1, 2024, aimed at expanding brand partnership opportunities across the Company's growing portfolio.
The establishment of Forte Group Entertainment represents a significant step in Forte Group's strategy to forge impactful brand partnerships, enhancing the visibility and reputation of its product lines, including its TRACE BLACKwater and nutraceutical brand. Through this new subsidiary, the Company will actively pursue collaborations with key brand spokespersons and explore synergistic partnerships that strengthen its market position and expand its audience reach.
"Creating Forte Group Entertainment aligns with our mission to innovate within the wellness and lifestyle markets," said Marcello Leone, CEO of Forte Group. "We are committed to building valuable partnerships that drive brand awareness and engage consumers in meaningful ways, and Forte Group Entertainment aims to provide the focused platform to achieve these goals."
As part of this initiative, Forte Group is actively engaging with brands and partners who share its vision of promoting health and wellness through unique consumer experiences. These partnerships aim to play a key role in the growth strategy of Forte Group's branded product offerings, enhancing the company's profile in the marketplace.
The Company will provide updates on potential partnerships as they are solidified, in accordance with applicable laws.
Conversion of Promissory Notes
The Company also announces further to its press release dated October 31, 2024, it has converted the principal amount of
The Debt Settlement Shares are subject to a restricted period of four months and one day.
None of the securities issued pursuant to the Shares for Debt Arrangement have been or will be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.
About Forte Group Holdings Inc.
Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF)(FSE:7BC0) (WKN: A40L1Z ) is a diversified lifestyle and wellness consumer packaged goods company. Forte Group develops and manufactures a range of alkaline and mineral-enriched beverages and nutraceutical supplements for both its TRACE brand and private-label clients. Based in British Columbia, Canada, Forte Group owns a pristine natural alkaline spring water aquifer and operates a 40,000-square-foot, Health Canada- and HACCP-certified manufacturing facility near Osoyoos, British Columbia. The Company's distribution network includes traditional retail and e-commerce channels, delivering wellness-focused products directly to consumers through its innovative offerings.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer, Director
john@fortegroup.co
604-569-1414
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements within the meaning of applicable securities laws. These statements include, but are not limited to, expectations regarding the formation and anticipated activities of Forte Group Entertainment Inc., the potential impact of brand partnerships on the Company's market position and product visibility, and the expected effect of the promissory note conversion on the Company's financial stability and overall financial position. Additional forward-looking statements relate to anticipated regulatory compliance associated with the Shares for Debt Arrangement. Forward-looking statements reflect management's current beliefs and assumptions based on information available as of the date of this release. However, these statements are subject to risks, uncertainties, and other factors that could cause actual outcomes to differ materially from those anticipated. Key risk factors include, but are not limited to, market conditions, the Company's ability to establish and maintain successful brand partnerships, regulatory changes affecting securities and consumer packaged goods, fluctuations in stock price, compliance with U.S. securities laws, and other factors disclosed in the Company's filings on SEDAR+. Although the Company believes that the assumptions underlying these forward-looking statements are reasonable, there can be no assurance that anticipated results will occur as projected or at all. The Company disclaims any obligation to update or revise any forward-looking statements, except as required by applicable law.
SOURCE: Forte Group Holdings
View the original press release on accesswire.com
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