Golden Grail Beverages Cancels Convertible Debt to Reduce Dilution
Golden Grail Beverages (OTC: GOGY) announced a strategic partnership with Rockwell Capital to restructure notes and reduce debt, aiming to minimize stock dilution. The company paid off a $100,000 note from 9/9/22 with $20,602.74 interest, preventing potential conversion into 11,823,725 shares. Additionally, Rockwell will forgive a $100,000 note from 5/9/22 with $23,972.60 interest, avoiding conversion into 12,154,176 shares. Rockwell granted a 90-day interest forbearance while working on debt restructuring.
Golden Grail Beverages (OTC: GOGY) ha annunciato una partnership strategica con Rockwell Capital per ristrutturare note e ridurre il debito, con l'obiettivo di minimizzare la diluizione delle azioni. L'azienda ha estinto una nota di $100,000 datata 9/9/22 con $20,602.74 di interessi, evitando così una potenziale conversione in 11,823,725 azioni. Inoltre, Rockwell perdonerà una nota di $100,000 datata 5/9/22 con $23,972.60 di interessi, prevenendo una conversione in 12,154,176 azioni. Rockwell ha concesso un periodo di tolleranza sugli interessi di 90 giorni mentre si occupa della ristrutturazione del debito.
Golden Grail Beverages (OTC: GOGY) anunció una asociación estratégica con Rockwell Capital para reestructurar notas y reducir la deuda, con el objetivo de minimizar la dilución de acciones. La compañía pagó una nota de $100,000 de fecha 9/9/22 con $20,602.74 de interés, evitando así una posible conversión en 11,823,725 acciones. Además, Rockwell perdonará una nota de $100,000 de fecha 5/9/22 con $23,972.60 de interés, evitando la conversión en 12,154,176 acciones. Rockwell otorgó un periodo de gracia de 90 días en los intereses mientras trabaja en la reestructuración de la deuda.
골든 그레일 음료 (OTC: GOGY)가 록웰 캐피탈과 전략적 파트너십을 체결하여 노트를 재구성하고 부채를 줄여 주식 희석을 최소화할 계획이라고 발표했습니다. 이 회사는 9/9/22에 만기된 $100,000의 노트를 $20,602.74의 이자와 함께 상환하여 11,823,725주로 전환될 가능성을 방지했습니다. 또한, 록웰은 5/9/22에 만기된 $100,000의 노트를 $23,972.60의 이자와 함께 탕감하여 12,154,176주로의 전환을 피할 것입니다. 록웰은 부채 재구성을 진행하는 동안 90일간의 이자 유예를 부여했습니다.
Golden Grail Beverages (OTC: GOGY) a annoncé un partenariat stratégique avec Rockwell Capital pour restructurer des notes et réduire la dette, visant à minimiser la dilution des actions. L'entreprise a remboursé une note de 100 000 $ datant du 9/9/22 avec 20 602,74 $ d'intérêts, empêchant ainsi une conversion potentielle en 11 823 725 actions. De plus, Rockwell renoncera à une note de 100 000 $ du 5/9/22 avec 23 972,60 $ d'intérêts, évitant la conversion en 12 154 176 actions. Rockwell a accordé un report d'intérêts de 90 jours pendant qu'il travaille sur la restructuration de la dette.
Golden Grail Beverages (OTC: GOGY) hat eine strategische Partnerschaft mit Rockwell Capital angekündigt, um Notizen umzustrukturieren und die Schulden zu reduzieren, mit dem Ziel, die Aktienverwässerung zu minimieren. Das Unternehmen hat eine Note in Höhe von 100.000 US-Dollar vom 9.9.22 mit 20.602,74 US-Dollar Zinsen zurückgezahlt, was eine mögliche Umwandlung in 11.823.725 Aktien verhinderte. Darüber hinaus wird Rockwell eine Note in Höhe von 100.000 US-Dollar vom 5.9.22 mit 23.972,60 US-Dollar Zinsen erlassen, um eine Umwandlung in 12.154.176 Aktien zu vermeiden. Rockwell gewährte eine 90-tägige Zinsstundung, während an der Umschuldung gearbeitet wird.
- Elimination of $200,000 in convertible debt principal
- Prevention of potential dilution of approximately 24 million shares
- Secured 90-day forbearance on existing notes in default
- Company still has existing notes in default requiring restructuring
- Additional interest payments of $44,575.34 required
FORT LAUDERDALE, Fla., Nov. 21, 2024 (GLOBE NEWSWIRE) -- Golden Grail Beverages (OTC: GOGY – hereinafter referred to as the "Company"), announced today that are working with Rockwell Capital to restructure its existing notes to reduce debt thereby reducing current and future dilution of the Company’s stock.
"Our strategic partnership with Rockwell enables us to opportunistically retire senior notes, a significant step in optimizing our capital structure. As we continue to prioritize debt reduction, we're demonstrating our unwavering commitment to enhancing shareholder value and long-term financial health," said Scott Lomu, Chief Executive Officer.
First, the Company paid off the
Secondly, Rockwell will forgive the 5/9/22
Lomu continued, “We will continue to take out and restructure debt in a manner that is accretive to our shareholder value. We expect further debt reduction and improvements in our capital structure to remain a primary goal moving forward.”
About Golden Grail Beverages
Golden Grail Beverages is a rapidly expanding company dedicated to acquiring, innovating, and scaling a diverse portfolio of beverages. With a focus on sustainability and consumer engagement, Golden Grail is committed to providing high-quality, energizing, and refreshing drinks to its customers. For more information, visit https://goldengrailbeverages.com/
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Source: Golden Grail Beverages
FAQ
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