JACKSONVILLE, FL/ACCESSWIRE/June 8, 2022/ LFTD Partners Inc. (OTCQB: LIFD) (www.LFTDPartners.com) today announced that it has prepaid $916,666 of the principal of its $2,750,000 note payable relating to the purchase of its growing and profitable subsidiary Lifted Made, Kenosha, WI, using cash flow available generated by Lifted Made operations. The prepayment leaves LFTD Partners Inc. with just $1,833,334 in secured debt.
William C. “Jake” Jacobs, President and Chief Financial Officer of LFTD Partners Inc., said, “The continued outstanding performance of the talented team at Lifted Made, under the leadership of Nick Warrender, is generating free cash flow which simultaneously increased Lifted Made’s inventory and made this substantial prepayment of $916,666 of the remaining principal of our secured debt incurred upon the Lifted Made acquisition, without incurring new debt or issuing new equity securities . »
Gerard M. Jacobs, President and CEO of LFTD Partners Inc., said, “Access to attractively priced debt and equity capital in the cannabis industry is difficult these days. But fortunately, our company continues to execute on its carefully crafted game plan of profitable growth in high-quality, branded consumer products. This allowed us to continue moving the ball down the court for seven consecutive quarters using only our own free cash flow. »
About LFTD Partners Inc.
Publicly traded LFTD Partners Inc., Jacksonville, FL (OTCQB: LIFD) is the parent company of Lifted Made, Kenosha, WI (www.LiftedMade.com), which manufactures and sells psychedelic products under its Silly Shruum brand, and hemp. cannabinoid-derived products under its Urb Finest Flowers brand. LFTD Partners Inc. also owns 4.99% of CBD beverage and product maker Ablis Holding Company (www.AblisBev.com) and craft distillers Bendistillery Inc. d/b/a Crater Lake Spirits (www.CraterLakeSpirits .com) and Bend Spirits, Inc. (www.Bendistillery.com) all located in Bend, OR. Please read LIFD’s filings with the United States Securities and Exchange Commission which describe in detail our business and the risk factors associated with it. Stay informed of our company news and product launches by signing up for our newsletters at www.LFTDPartners.com and www.LiftedMade.com.
Caution Regarding Forward-Looking Statements
Certain statements contained herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes LFTD’s operations, funding, growth, performance, products, plans and expectations. Partners Inc. and Lifted Made. These forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that may cause or contribute to actual operations, funding, growth, performance, revenue, to the plans or results of these companies. differing materially from those expressed or implied by the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in these forward-looking statements due to certain other factors, including risk factors set forth in LFTD Partners Inc.’s filings with the Securities and Exchange Commission. This press release does not constitute an offer to sell common stock or any other securities of LFTD Partners Inc.
To the attention : Nicholas S. Warrender, CEO
Call: (224) 577-8148
E-mail: [email protected]
LFTD Partners Inc.
To the attention : William C. “Jake” Jacobs, President and Chief Financial Officer
Call: (847) 400-7660
E-mail: [email protected]
THE SOURCE: LFTD Partners Inc.
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