LGBTQ Loyalty Announces $ 10 Million Funding Pledge From New York-Based Investment Group
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The funds will enable the company to advance its mission of creating equity-focused financial products and removing convertible notes from circulation.
WEST HOLLYWOOD, Calif., May 28, 2021 (GLOBE NEWSWIRE) – LGBTQ Loyalty Holdings, Inc. (OTC PINK: LFAP) (“LGBTQ Loyalty” or “the Company”), a financial methodology focused on diversity and inclusion and society data, announces that it has entered into a securities purchase agreement for the sale of up to $ 10 million of its common shares, intended to advance the mission and vision of the company and its financial products .
The investment is backed by GHS Investments, LLC, a leading New York-based private investment and management group that has been providing financing solutions to high potential small businesses for more than six years.
The Company will have the right, in its sole discretion, to sell up to $ 10 million of common stock (subject to certain limitations) to GHS Investments, which does not have the right to require the Company to sell shares, after the entry into force of a registration statement. with the Securities and Exchange Commission registering the common shares issuable in accordance with the security purchase agreement and other customary closing conditions. The purchase price is a fixed price per share equal to 70% of the lowest volume weighted average price (VWAP) during the period of twenty (20) trading days immediately preceding, but not including, the date of filing of the registration declaration, subject to a negotiating floor price. The market floor price means a fixed price, equal to the lowest VWAP for the ordinary shares of the Company during the twenty (20) trading days preceding the filing of the registration statement.
“We are delighted to invest in the growth and success of LGBTQ Loyalty Holding. We are particularly excited to have helped launch the LGBTQ + ETF ESG100. We anticipate continued progress from the company and are pleased to represent only a small portion of their overall growth, ”said Matthew Schissler, Founder and Member of GHS Investments, LLC.
This investment will help the company ensure it is able to focus on marketing and outreach initiatives for existing products of the LGBTQ + ESG100 ETF and LGBTQ100 ESG index, as well as on ‘other financial products focused on the equality of indices and ETFs. A portion of the proceeds will be used to reimburse convertible notes in circulation.
“We are delighted that, upon entry into force of our registration statement and subject to certain conditions of the securities purchase agreement with GHS Investments, a significant portion of the capital that we derive from our $ 10 million funding dollars will be used to withdraw 100% of our convertible notes. ”Said Bobby Blair, CEO of LGBTQ Loyalty Holdings, Inc.“ Working with GHS Investments provides us with a respected, long-term small-cap funding expert in the over-the-counter (OTC), with established experience in financing successful businesses. “
The company expects capital to fuel the company’s revenue, product availability and marketing presence over the next 12+ months.
For more information, please see the company’s current report on Form 8-K filed with the U.S. Securities and Exchange Commission on May 28, 2021.
About LGBTQ Loyalty Holdings, Inc.
LGBTQ Loyalty is a diversity and inclusion-focused methodology and financial data company that quantifies corporate equality alignment with the LGBTQ community and minority interest groups. The company evaluated the first-ever Loyalty Preference Index in the United States, which it says allows the LGBTQ community to voice their preferences for the top performing businesses in the country that are most dedicated to promoting the ‘equality. The Loyalty Preference Index, referred to as the LGBTQ100 ESG Index, is an environmental, social and governance (ESG) index, offering an additional perspective for those looking to align with equality-driven and ESG-responsible companies. LGBTQ Loyalty’s leadership includes seasoned authorities from the financial industry and the LGBTQ community. For more information, please visit www.lgbtqloyalty.com.
About GHS Investments
GHS Investments LLC is a leading private investment and management group providing financing solutions to high potential small businesses. GHS invests in public companies primarily as an equity investor and has been instrumental in the start-up and growth of many small, high potential companies since 2015. Matthew Schissler, Founder and Member of GHS, is an executive at GHS American company which has held managerial positions in a number of private and public companies. https://ghscap.com
Safe Harbor Declaration
This press release may contain certain “forward-looking statements” relating to the business of LGBTQ Loyalty Holdings, Inc. and its subsidiaries. All statements, other than statements of historical fact included herein, are “forward-looking statements”. These forward-looking statements are often identified by the use of forward-looking terms such as “believes”, “expects” or similar expressions, involving known and unknown risks and uncertainties. Although the company believes that the expectations reflected in these forward-looking statements are reasonable, they involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The actual results of the Company could differ materially from those anticipated in these forward-looking statements due to various factors, including those discussed in the Company’s periodic reports filed with the Securities and Exchange Commission and available on its website at the address http: //www.sec.gov. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors. Except as required by securities laws, the company assumes no obligation to update these forward-looking statements.
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Gregory FCA for LGBTQ Loyalty Holdings, Inc.