UPDATE: Major League Football (MLFB) $10,000,000 Equity Line Stock Purchase Agreement Executed

Rhea-AI Summary

Major League Football (OTC PINK:MLFB) announced a $10 million Equity Line Stock Purchase Agreement with an institutional investor, effective May 6, 2022. Funding will begin once the Company's S-1 Registration Statement is declared effective by the SEC. This agreement enables the company to advance its plans for the 2022 Season. The Board had vetted numerous proposals from interested investors, ultimately selecting this agreement. CEO Frank Murtha expressed enthusiasm, stating it marks a significant milestone for the future of Major League Football.

Positive

• Secured a $10 million Equity Line Stock Purchase Agreement to enhance funding.
• Agreement enables advancement of plans for the 2022 Season, indicating growth potential.

Negative

• None.

LAKEWOOD RANCH, FL / ACCESSWIRE / May 10, 2022 / Major League Football, Inc. (OTC PINK:MLFB) is pleased to announce that it has entered into a binding Agreement with an institutional investor for an Equity Line Stock Purchase Agreement of up to $10,000,000 (Ten Million Dollars) of our Common Stock. The commencement of funding will occur when the Company's S-1 Registration Statement shall have been declared and remain effective by and with the Securities and Exchange Commission ("SEC").

Over the last few months, we have received a number of proposals from qualified, interested investors. Our Board of Directors and external advisors vetted all of them. We have entered into this Agreement, effective May 6, 2022. This commitment allows us to move forward with our plans for a 2022 Season. Over the next two weeks, we will be formally announcing our cities, the respective coaches assigned to each city, and the official schedule. "This is a milestone we have all worked very hard to achieve and we look forward to providing our shareholders, fans and the public with exciting football - now and in future years" said CEO Frank Murtha.

Contact: Frank Murtha, President & CEO: f.murtha@mlfb.com

SOURCE: Major League Football, Inc.

View source version on accesswire.com:
https://www.accesswire.com/700790/UPDATE-Major-League-Football-MLFB-10000000-Equity-Line-Stock-Purchase-Agreement-Executed

FAQ

What is the purpose of the $10 million Equity Line Stock Purchase Agreement by MLFB?

The agreement aims to enhance funding for Major League Football's operations and plans for the 2022 Season.

When will the funding from the Equity Line Agreement begin for MLFB?

Funding will commence once the Company’s S-1 Registration Statement is effective by the SEC.

Who is the CEO of Major League Football?

Frank Murtha is the President and CEO of Major League Football.

What does the new agreement mean for MLFB's future?

The agreement marks a significant milestone for MLFB, allowing the company to move forward with its football plans.

What steps are being taken by MLFB following the Equity Line Agreement?

MLFB plans to announce its cities, coaches, and official schedule for the upcoming 2022 Season.