MLFB Announces Closing of New Financing

Rhea-AI Summary

Major League Football, Inc. (OTC PINK:MLFB) announced the closure of a Convertible Senior Note sale with Warrants for a total of 25 million shares priced at $0.03 and $0.035 each. This funding aims to support the upcoming 2022 playing season, with training camps starting in April 2022 in Lakewood Ranch, FL. The transaction was completed on November 29, 2021. Additionally, MLFB is in search of new corporate offices in Lakewood Ranch to accommodate executives and key staff, as well as evaluating facilities in franchise cities.

Positive

• Successfully closed financing for 25 million shares, indicating investor interest.
• Funding supports the planned 2022 playing season, enhancing operational prospects.

Negative

• Shares sold at a low price of $0.03 and $0.035, potentially indicating weak market sentiment.

LAKEWOOD RANCH, FL / ACCESSWIRE / December 1, 2021 / Frank Murtha, President and CEO of Major League Football, Inc. (OTC PINK:MLFB) announced today that it had sold a Convertible Senior Note coupled with Warrants for 15,000,000 shares at .03 cents and 10,000,000 shares at .035 cents per share to an institutional investor. The transaction supports the plan to conduct a 2022 playing season beginning with training camp in Lakewood Ranch, FL in April 2022. The transaction closed on November 29^th, 2021. Murtha also announced that the search for new and expanded corporate offices in Lakewood Ranch, FL is underway. This facility will house League executives and key staff. MLFB is simultaneously evaluating office space and facilities in its franchise cities.

MLFB's next Quarterly Filing is due December 15, 2021

Contact Frank Murtha, CEO
F.murtha@mlfb.com

SOURCE: Major League Football, Inc.

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https://www.accesswire.com/675526/MLFB-Announces-Closing-of-New-Financing

FAQ

What financing did Major League Football announce in December 2021?

MLFB announced a Convertible Senior Note sale that included Warrants for 25 million shares.

What is the share price for the recent financing by MLFB?

The shares were priced at $0.03 and $0.035 each.

When is the 2022 playing season for Major League Football set to begin?

The 2022 playing season is set to begin with training camps in April 2022.

What is MLFB's plan for corporate offices?

MLFB is searching for new corporate offices in Lakewood Ranch, FL.

When is MLFB's next Quarterly Filing due?

MLFB's next Quarterly Filing is due on December 15, 2021.