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Limitless Venture Group, Inc. Announces Updated Terms of its Senior Secured Convertible Promissory Note

Limitless Venture Group, Inc. Announces Updated Terms of its Senior Secured Convertible Promissory Note

无限风险集团公司宣布其高级担保可转换本票的最新条款
Accesswire ·  2022/03/03 22:06

TULSA, OK / ACCESSWIRE / March 3, 2022 / Limitless Venture Group, Inc. (OTC PINK:LVGI) ("LVGI" or the "Company"), a publicly traded holding company that provides its shareholders with access to investment opportunities in small and medium-sized businesses uniquely positioned for rapid growth announced that effective March 1st LVGI and Leonite Capital LLC ("Leonite") have agreed on amended terms for LVGI's Senior Secured Convertible Promissory Note ("Note") issued to Leonite on August 13, 2020. The amendment places the Note in a six-month forbearance period, during which Leonite may convert outstanding Note principal into newly issued LVGI Common Stock at a fixed price of $0.01 per share. The Amendment sets the Note's interest rate for the forbearance period at the greater of 10% per annum or the U.S. Prime Rate (currently 3.25%) plus 6.75% and stops interest from accruing at a default rate of interest. The current outstanding Note principal is approximately $1.3 million, not including a $300,000 contingent forbearance fee that locks in the updated Note terms, but will be forgiven if the current outstanding balance is repaid within 18 months.

俄克拉荷马州塔尔萨/ACCESSWIRE/2022年3月3日/无限制风险集团有限公司(场外交易代码:LVGI)(“LVGI”或“公司”)是一家上市控股公司,为其股东提供在中小型企业中获得投资机会的机会,该公司具有快速增长的独特优势。该公司宣布,从3月1日起,LVGI和莱昂尼特资本有限责任公司(“莱昂尼特”)已就LVGI于2020年8月13日发行给莱昂尼特的高级担保可转换本票(“票据”)的修订条款达成一致。修订给予票据六个月的耐受期,在此期间,Leonite可按每股0.01美元的固定价格,将已发行票据本金转换为新发行的LVGI普通股。修正案将票据的耐受期利率定为年息10%或美国最优惠利率(目前为3.25%)加6.75%两者中较大者,并停止按违约利率计息。目前的未偿还票据本金约为130万美元,不包括锁定在最新票据条款中的30万美元或有忍耐费,但如果当前未偿还余额在18个月内偿还,将被免除。

Commenting on the updated Note terms, Joseph Francella, LVGI CEO, stated "We are pleased to create a six-month period that we envision will enable our ongoing business growth to produce operating cash flows to service our Note principal and interest payment obligations. By agreeing to a fixed Note principal conversion price of $0.01 per share for the forbearance period, we strike a balance between enabling debt reduction through conversions without our issuing significantly more LVGI shares under previous Note terms." Regarding LVGI's relationship with Leonite, Francella said "Today is just more proof that LVGI and Leonite have agreed to work together for the benefit of LVGI and its shareholders, which demonstrates our commitment to work together and adapt to LVGI's needs as we grow and management our investment opportunities for a brighter future for all.

LVGI首席执行官约瑟夫·弗兰切拉在评论更新后的Note条款时说:“我们很高兴创建一个6个月的期限,我们预计这将使我们正在进行的业务增长能够产生运营现金流,以偿还我们的Note本金和利息支付义务。通过同意容忍期内固定的Note本金转换价格为每股0.01美元,我们在实现通过转换减少债务之间取得了平衡,同时我们不会根据以前的Note条款发行更多的LVGI股票。”在谈到LVGI与莱昂尼特的关系时,Francella说:“今天正好进一步证明LVGI和Leonite已经同意为LVGI及其股东的利益而合作,这表明我们致力于合作,随着我们的发展适应LVGI的需求,并管理我们的投资机会,为所有人创造更光明的未来。

About Limitless Venture Group, Inc.

关于Limitless Venture Group,Inc.

Limitless Venture Group provides its shareholders with access to leading small and medium-sized businesses focused on growth. Leveraging its permanent capital base, disciplined long-term approach, and actionable expertise, LVGI owns controlling interests in its subsidiaries as it partners with management teams to build businesses with the capacity to unlock significant value for its shareholders.

无限创业集团为其股东提供了接触专注于增长的领先中小型企业的途径。利用其永久的资本基础、有纪律的长期做法和可操作的专业知识,LVGI拥有子公司的控股权,因为它与管理团队合作,建立有能力为股东释放重大价值的业务。

For more information, please visit: .

欲了解更多信息,请访问:。

The Company currently has three primary subsidiaries: Rokin, Inc., KetoSports, Inc. and Jasper Benefit Solutions, LLC.

该公司目前有三个主要子公司:Rokin,Inc.,KToSports,Inc.和Jasper Benefit Solutions,LLC。

About Rokin, Inc.

关于Rokin公司

Rokin was founded in 2016 with a mission to provide our customers with the highest quality, technology-driven vaping products available while providing exceptional customer service. Rokin Vapes are rigorously tested by Rokin and multiple consumer focus groups to ensure the products meet strict quality standards before any production takes place. After a product is selected and production complete, the product is certified to the latest FCC, CE standards (which are required for all vaping products) but then Rokin goes above and beyond to certify our vaping products to the latest RoHS standard, which restricts the use of six hazardous materials commonly found in electronic products.

Rokin成立于2016年,其使命是为我们的客户提供可用的最高质量、技术驱动的蒸发产品,同时提供卓越的客户服务。Rokin Vapes经过Rokin和多个消费者焦点小组的严格测试,以确保产品在生产之前达到严格的质量标准。在选定产品并完成生产后,该产品将通过最新的FCC、CE标准认证(这是所有蒸发产品所必需的),但随后Rokin会更进一步地认证我们的蒸发产品符合最新的RoHS标准,该标准限制使用电子产品中常见的六种危险材料。

About KetoSports, Inc.

关于KToSports公司

KetoSports products flush the body with ketones, raising blood ketone levels within a few minutes. Because the body and brain use ketones as its preferred energy source and are used first for energy demands, KetoSports products are essential for anyone who wants to prolong energy reserves for their athletic events or for those who just want to benefit from carb-free, stimulant-free mental energy and enhanced acuity.

KetSports产品会用酮冲洗身体,在几分钟内提高血酮水平。因为身体和大脑使用酮类作为首选能源,并且首先用于能量需求,所以KToSports产品对于任何想要为他们的运动项目延长能量储备的人,或者那些只想从无碳水化合物、无兴奋剂的精神能量和增强的敏锐度中受益的人来说,都是必不可少的。

About Jasper Benefit Solutions, LLC

关于Jasper Benefit Solutions,LLC

Jasper Benefit Solutions, LLC (JBS), founded in 2018 with headquarters just outside Nashville, TN, is a Managing General Underwriter (MGU) specializing in risk management services for small to medium self-funded employer "Groups". MGUs, unlike general agents within insurance industries, are certified to underwrite health and life benefits policies on behalf of their carrier-partners. Jasper's niche is the unique ability and authorization from a well-known, nationally recognized insurance carrier to underwrite Groups as small as five (5) employees as well as offering limited benefit insured products for groups with part-time employees not able to participate in their health plans.

Jasper Benefit Solutions,LLC(JBS)成立于2018年,总部位于田纳西州纳什维尔郊外,是一家董事总经理一般承销商(MGU),专门为中小型自筹资金的雇主“团体”提供风险管理服务。与保险行业的总代理不同,MGU拥有代表其承运人合作伙伴承保健康和人寿福利保单的资格。Jasper的利基市场是一家知名的、国家认可的保险公司的独特能力和授权,可以承保小至五(5)名员工的团体,并为无法参加其健康计划的兼职员工的团体提供有限福利保险产品。

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Disclaimer Regarding Forward-Looking Statements

关于前瞻性陈述的免责声明

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

本新闻稿包含符合1995年“私人证券诉讼改革法”的前瞻性陈述。本新闻稿中包含的非历史事实的陈述,包括但不限于与公司对正在开发的新产品对公司业绩的未来影响的预期有关的陈述,可能被视为前瞻性陈述。诸如“预期”、“打算”、“计划”、“可能”、“可能”、“应该”、“预期”、“可能”、“相信”等词汇以及类似重要性的词汇也可识别前瞻性陈述。这些陈述会受到风险和不确定性的影响。前瞻性陈述以当前事实、分析和其他信息为基础,这些信息基于对未来业绩的预测、对尚未确定的金额的估计以及对管理层的假设。我们敦促读者不要过分依赖前瞻性陈述,因为这些陈述只反映了发布之日的情况。除非适用法律另有要求,否则我们没有义务更新任何前瞻性陈述,以反映本新闻稿发布之日之后可能发生的任何事件或情况。

SOURCE: Limitless Venture Group

资料来源:无限创业集团


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