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FAQ: Branded Legacy's $1 Million Debt Elimination and Corporate Update
TL;DR
Branded Legacy eliminated $1 million in debt, improving its balance sheet and reducing dilution risk for shareholders.
The company negotiated favorable terms to retire legacy convertible debt after a comprehensive review by new leadership under Dr. Jamie Forrest.
This financial cleanup supports Branded Legacy's mission to pioneer addiction treatment solutions and address critical public health challenges.
Branded Legacy operates a GMP manufacturing facility and collaborates with institutions like McMaster and Stanford for transformative research.
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Branded Legacy announced the successful elimination of approximately $1 million in legacy convertible debt that originated under prior management, following a comprehensive review by the new leadership team.
This elimination results in an immediate improvement to the balance sheet, reduces future dilution risk for shareholders, and increases financial flexibility for the company.
The company negotiated highly favorable terms with legacy debt holders to retire the convertible debt instruments.
The new leadership team is under Dr. Jamie Forrest, PhD, MPH, who conducted the comprehensive review of historical obligations.
The company is working with OTC Markets Group to update the issuer profile and disclosures on OTCMarkets.com and is focused on completing remaining requirements to remove the Yield Sign.
Branded Legacy is a forward-thinking holdings company dedicated to pioneering solutions in addiction treatment and harm reduction through research, innovation, and advanced manufacturing.
The company operates through its subsidiary BioLegacy Evaluative Group and has strategic collaborations with leading institutions like McMaster University and Stanford University.
The company has a state-of-the-art GMP manufacturing facility in Vancouver.
For more information, visit the company's website at https://BrandedLegacy.com or view the full press release at https://ibn.fm/KPNGY.
InvestorWire is a specialized communications platform that syndicated this press release as part of the Dynamic Brand Portfolio @ IBN, which provides wire solutions, editorial syndication, and corporate communications services.
Curated from InvestorBrandNetwork (IBN)
