Forte Group Strengthens Balance Sheet With the Conversion of Promissory Notes and Mortgage
Forte Group Holdings (CSE:FGH) has announced significant debt restructuring moves to strengthen its balance sheet. The company has converted $200,000 in secured promissory notes from its subsidiary Naturo Group Enterprises and $100,000 of Naturo Group's second mortgage into 624,998 common shares at $0.48 per share. These Debt Settlement Shares are subject to a hold period until May 21, 2025.
Between December 2023 and May 2024, Naturo Group raised $1,382,065 through multiple tranches of secured promissory notes. The company has demonstrated commitment to financial restructuring by converting $397,064.70 of these notes into common shares between May and October 2024. With the latest debt settlements, Forte Group has reduced its promissory note liabilities by a total of $597,064.70, leaving approximately $785,000 outstanding.
Forte Group Holdings (CSE:FGH) ha annunciato importanti manovre di ristrutturazione del debito per rafforzare il proprio bilancio. L'azienda ha convertito $200,000 di cambiali garantite dalla sua controllata Naturo Group Enterprises e $100,000 del secondo mutuo di Naturo Group in 624,998 azioni ordinarie a $0,48 per azione. Queste Azioni di Riduzione del Debito sono soggette a un periodo di blocco fino al 21 maggio 2025.
Tra dicembre 2023 e maggio 2024, Naturo Group ha raccolto $1,382,065 attraverso più tranche di cambiali garantite. L'azienda ha dimostrato un impegno nella ristrutturazione finanziaria convertendo $397,064.70 di queste cambiali in azioni ordinarie tra maggio e ottobre 2024. Con i recenti accordi di debito, Forte Group ha ridotto le proprie passività da cambiali di un totale di $597,064.70, lasciando circa $785,000 ancora da saldare.
Forte Group Holdings (CSE:FGH) ha anunciado importantes movimientos de reestructuración de deuda para fortalecer su balance. La compañía ha convertido $200,000 en pagarés garantizados de su subsidiaria Naturo Group Enterprises y $100,000 de la segunda hipoteca de Naturo Group en 624,998 acciones comunes a $0.48 por acción. Estas Acciones de Liquidación de Deuda están sujetas a un período de restricción hasta el 21 de mayo de 2025.
Entre diciembre de 2023 y mayo de 2024, Naturo Group recaudó $1,382,065 a través de múltiples tramos de pagarés garantizados. La compañía ha demostrado su compromiso con la reestructuración financiera al convertir $397,064.70 de estos pagarés en acciones comunes entre mayo y octubre de 2024. Con los últimos acuerdos de deuda, Forte Group ha reducido sus pasivos por pagarés en un total de $597,064.70, dejando aproximadamente $785,000 pendientes.
포르테 그룹 홀딩스 (CSE:FGH)는 재무제표를 강화하기 위한 중요한 부채 구조 조정 조치를 발표했습니다. 회사는 자회사인 나투로 그룹 엔터프라이즈의 담보 어음 $200,000와 나투로 그룹의 2순위 담보 대출 $100,000을 주당 $0.48로 624,998주 보통주로 전환했습니다. 이러한 부채 정산 주식은 2025년 5월 21일까지 보류 기간이 적용됩니다.
2023년 12월과 2024년 5월 사이에 나투로 그룹은 여러 차례의 담보 어음을 통해 $1,382,065를 모금했습니다. 회사는 2024년 5월과 10월 사이에 이 어음 중 $397,064.70을 보통주로 전환함으로써 재무 재구성에 대한 의지를 보여주었습니다. 최근 부채 정산을 통해 포르테 그룹은 총 $597,064.70의 어음 부채를 줄였으며, 약 $785,000이 남아 있습니다.
Forte Group Holdings (CSE:FGH) a annoncé des mesures significatives de restructuration de la dette pour renforcer son bilan. L'entreprise a converti 200 000 $ de billets à ordre garantis de sa filiale Naturo Group Enterprises et 100 000 $ du deuxième prêt hypothécaire de Naturo Group en 624 998 actions ordinaires au prix de 0,48 $ par action. Ces actions de règlement de la dette sont soumises à une période de blocage jusqu'au 21 mai 2025.
Entre décembre 2023 et mai 2024, Naturo Group a levé 1 382 065 $ par le biais de plusieurs tranches de billets à ordre garantis. L'entreprise a démontré son engagement envers la restructuration financière en convertissant 397 064,70 $ de ces billets en actions ordinaires entre mai et octobre 2024. Avec les derniers règlements de dette, Forte Group a réduit ses passifs de billets à ordre d'un total de 597 064,70 $, laissant environ 785 000 $ impayés.
Forte Group Holdings (CSE:FGH) hat wesentliche Maßnahmen zur Umstrukturierung der Schulden angekündigt, um die Bilanz zu stärken. Das Unternehmen hat $200,000 in gesicherten Schuldscheinen seiner Tochtergesellschaft Naturo Group Enterprises und $100,000 der zweiten Hypothek von Naturo Group in 624,998 Stammaktien zu je $0,48 umgesetzt. Diese Schuldenvergabeteile unterliegen einer Haltedauer bis zum 21. Mai 2025.
Zwischen Dezember 2023 und Mai 2024 hat Naturo Group $1,382,065 durch mehrere Tranchen gesicherter Schuldscheine gesammelt. Das Unternehmen hat sein Engagement für die finanzielle Umstrukturierung demonstriert, indem es zwischen Mai und Oktober 2024 $397,064.70 dieser Schuldscheine in Stammaktien umgewandelt hat. Mit den jüngsten Schuldenregelungen hat Forte Group seine Verbindlichkeiten aus Schuldscheinen um insgesamt $597,064.70 reduziert und lässt etwa $785,000 ausstehen.
- Reduced total debt obligations by $597,064.70 through conversion to equity
- Successfully converted $300,000 in debt to equity at $0.48 per share
- Improved balance sheet structure through debt reduction
- Approximately $785,000 in promissory notes still outstanding
- Share dilution due to debt conversion into common shares
- Debt Settlement Shares subject to 4-month hold period
VANCOUVER, BC / ACCESS Newswire / January 21, 2025 / Forte Group Holdings Inc. (CSE:FGH)(OTC:FGHFF)(FSE:7BC0, WKN:A40L1Z) ("Forte Group" or the "Company"), a diversified lifestyle and wellness consumer packaged goods company, announces that, further to its news release dated January 10, 2025, it has converted the aggregate principal amount of
Between December 8, 2023 and May 1, 2024, Naturo Group closed multiple tranches of secured promissory note offerings, raising
Now, with the closing of the Debt Settlements, the Company has reduced its promissory note liabilities by an additional
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 forward-looking statements include, but are not limited to, expectations regarding the Company's anticipated liability reductions, and the impact on the Company's balance sheet and working capital position,. Forward-looking statements also include the Company's expectations regarding the overall financial impact of these initiatives on the Company's operations. Additionally, forward-looking statements reflect the Company's plans to strengthen its financial position and support its growth. Forward-looking statements reflect management's beliefs, expectations, and assumptions as of the date of this release and are subject to inherent risks and uncertainties. Factors that could cause actual results to differ materially include, but are not limited to: the Company's ability to successfully execute its financial and operational strategies; the availability and receipt of required regulatory approvals; market and economic conditions; potential fluctuations in consumer demand for the Company's products; the ability to generate sufficient revenue to meet financial obligations; risks associated with securing and maintaining financing; competition within the industry; supply chain disruptions; and other risks outlined in the Company's filings on SEDAR+. The Company makes no assurances that the outcomes expressed or implied in the forward-looking statements will be realized and disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. For more detailed information on these and other risks, please refer to the Company's filings on SEDAR+.
Contact Information
John Campbell
Chief Financial Officer and Chief Strategy Officer, Director
john@fortegroup.co
604-569-1414
SOURCE: Forte Group Holdings Inc.
View the original press release on ACCESS Newswire
FAQ
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