Branded Legacy, Inc. (OTC: BLEG) has successfully eliminated approximately $1 million in legacy convertible debt that originated under prior management. The company's new leadership team, led by Dr. Jamie Forrest, PhD, MPH, conducted a comprehensive review of historical obligations and negotiated favorable terms with legacy debt holders to retire these instruments.
The debt elimination results in an immediate improvement to the company's balance sheet and reduces future dilution risk for shareholders. This strategic move increases financial flexibility as Branded Legacy continues its focus on pioneering solutions in addiction treatment and harm reduction through its subsidiary, BioLegacy Evaluative Group, and strategic collaborations with leading institutions including McMaster University and Stanford University.
Management indicated it is continuing to work with OTC Markets Group to update the issuer profile and disclosures on OTCMarkets.com and is focused on completing remaining requirements to remove the Yield Sign designation. The company maintains a policy of clear, factual, and milestone-based communications with stakeholders.
Branded Legacy operates a state-of-the-art GMP manufacturing facility in Vancouver, leveraging advanced production capabilities to deliver cutting-edge products in the addiction treatment space. The company positions itself as a leader in addressing critical public health challenges through transformative research and innovation.
The debt elimination represents a significant step in strengthening the company's financial foundation as it pursues its mission in the healthcare sector. For more information about the company, visit https://BrandedLegacy.com.
