Golden Grail Beverages Cancels Convertible Debt to Reduce Dilution
GOLDEN GRAIL TECH CORP (GOGY)
NASDAQ:AMEX Investor Relations:
goldengrailtechnology.com
Company Research
Source: GlobeNewswire
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 $100,000 note from 9/9/22 $100,000 note with $20,602.74 interest that was due on 9/9/24. This note had the potential to convert into 11,823,725 shares. Rockwell will grant a forbearance on existing notes in default for 90 days. Secondly, Rockwell will forgive the 5/9/22 $100,000 note with $23,972.60
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