MLFB Announces New Stock Equity Term Sheet

Rhea-AI Summary

Major League Football (OTC PINK:MLFB) has announced plans to cancel its remaining training camp for 2022 while preparing for a full season in 2023. The company is currently reviewing a $2.5 million Stock Equity Term Sheet from an institution, aimed at covering previous player expenses and trade obligations. The management team remains dedicated to this financial strategy, and the company anticipates receiving additional financing offers from past investors. This development highlights the company's focus on stabilizing operations and preparing for future growth.

LAKEWOOD RANCH, FL / ACCESSWIRE / August 18, 2022 / Major League Football (OTC PINK:MLFB) President and CEO announced today that in conjunction with the Company's previously announced plan to cancel the remainder of its training camp for 2022, while moving forward with operations for a full season for 2023, that the Company has received from an institution an initial Stock Equity Term Sheet in the amount of $2,500,000, which it is reviewing. As previously announced, the Company plans on paying all obligations previously incurred for player expenses, and other trade obligations. Our excellent staff remains intact and dedicated to this plan. In addition, we expect to receive additional offers of financing in the near future from institutions who have previously invested in us. For more information click here.

Contacts:
Frank Murtha, CEO
F.murtha@mlfb.com
Kevin Mclenithan, IR
k.mclenithan@mlfb.com

SOURCE: Major League Football, Inc.

View source version on accesswire.com:
https://www.accesswire.com/712635/MLFB-Announces-New-Stock-Equity-Term-Sheet

FAQ

What is the significance of the $2.5 million Stock Equity Term Sheet for MLFB?

The $2.5 million Stock Equity Term Sheet is crucial for MLFB as it provides immediate financial support for covering previous player expenses and trade obligations.

What are the implications of MLFB canceling its training camp for 2022?

The cancellation of the training camp raises questions about MLFB's operational readiness for the upcoming season in 2023.

What are MLFB's plans moving forward for 2023?

MLFB plans to focus on a full operational season in 2023 following the cancellation of the 2022 training camp.

Is MLFB expecting further financial support from investors?

Yes, MLFB expects to receive additional financing offers from institutions that have previously invested in the company.