JACKSONVILLE, FL / ACCESSWIRE / July 26, 2022 / LFTD Partners Inc. (OTCQB:LIFD) (www.LFTDPartners.com) today announced that it has prepaid the remaining $916,668 of the principal of its note payable relating to the purchase of its subsidiary Lifted Made, Kenosha, WI, using free cash flow generated by Lifted Made's operations. The full payoff, which follows LFTD Partners' earlier prepayments of secured debt totaling $2,833,332 over the past eight months, leaves LFTD Partners Inc. with no remaining secured debt.
William C. "Jake" Jacobs, LFTD Partners Inc.'s President and CFO, said, "This prepayment of 100% of our secured debt is a true milestone that distinguishes our company from nearly all, if not all, of the other publicly traded cannabis companies."
Gerard M. Jacobs, LFTD Partners Inc.'s Chairman and CEO, said, "With LFTD Partners' secured debt completely paid off, we will now fully focus our attention on a significant potential acquisition that currently is under discussion, and on potential stock buybacks as may be approved by our board of directors from time to time."
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.
SOURCE: LFTD Partners Inc.