JACKSONVILLE, FL / ACCESSWIRE / July 11, 2022 / LFTD Partners Inc. (OTCQB:LIFD) (www.LFTDPartners.com) today announced that it has prepaid an additional $916,666 of the principal of its $1,833,334 note payable relating to the purchase of its subsidiary Lifted Made, Kenosha, WI, using free cash flow generated by Lifted Made's operations. The prepayment, which follows LFTD Partners' earlier prepayment of the same amount in June 2022, leaves LFTD Partners Inc. with only $916,668 of secured debt.
William C. "Jake" Jacobs, LFTD Partners Inc.'s President and CFO, said, "We are relentlessly paying down our secured debt, using just free cash flow from operations. Kudos to Nick Warrender and his talented team at Lifted Made."
Gerard M. Jacobs, LFTD Partners Inc.'s Chairman and CEO, said, "Nick, Jake and I are continuing to have discussions with potential lenders and acquisition candidates. However, we are living through challenging times, both on a macro level and within the cannabis industry. In this environment, we place great value on having a significant amount of working capital on hand, with only a small amount of secured debt that is rapidly diminishing."
About LFTD Partners Inc.
Publicly-traded LFTD Partners Inc., Jacksonville, FL (OTCQB ticker symbol LIFD) is the parent corporation of Lifted Made, Kenosha, WI (www.LiftedMade.com), which manufactures and sells psychedelic products under its Silly Shruum brand, and hemp-derived cannabinoid products under its Urb Finest Flowers brand. LFTD Partners Inc. also owns 4.99% of CBD-infused beverage and products maker Ablis Holding Company (www.AblisBev.com), and of 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 U.S. Securities and Exchange Commission which fully describe our business and the Risk Factors associated therewith. Stay updated with our company news and product launches by subscribing to our newsletters at www.LFTDPartners.com and www.LiftedMade.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the operations, financing, growth, performance, products, plans and expectations of LFTD Partners Inc. and Lifted Made. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to these companies' actual operations, financing, growth, performance, products, 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 such forward-looking statements as a result of certain other factors, including the 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.
CONTACTS:
Lifted Made
Attn: Nicholas S. Warrender, CEO
Phone: (224) 577-8148
Email: [email protected]
Website: www.LiftedMade.com
LFTD Partners Inc.
Attn: William C. "Jake" Jacobs, President and CFO
Phone: (847) 400-7660
Email: [email protected]
Website: www.LFTDPartners.com
SOURCE: LFTD Partners Inc.