- Forte Group (CSE:FGH, OTC:FGHFF) converts $546,695 debt into equity.
- 1,457,852 new shares issued at $0.375 per share.
- New shares restricted until August 22, 2025.
Forte Group Holdings Inc. (CSE:FGH, OTC:FGHFF), a diversified lifestyle and wellness consumer packaged goods company, has successfully completed a strategic debt settlement initiative. The company converted a total debt of $546,695 into common shares priced at $0.375 each.
This debt-to-equity conversion resulted in the issuance of 1,457,852 new common shares. These newly issued shares are subject to a restricted period, which extends until August 22, 2025. This initiative is part of Forte Group's ongoing efforts to enhance its financial standing by improving the balance sheet.
The conversion was executed with arm's length debt holders, aligning with an announcement made by Forte Group on April 8, 2025. This strategic move reduces the company's debt burden without necessitating any immediate cash outflows for debt settlement. However, it does cause some shareholder dilution due to the increased number of shares.
Forte Group Holdings is headquartered in British Columbia, Canada, and specializes in developing and manufacturing alkaline and mineral-enriched beverages as well as nutraceutical supplements under its TRACE brand and for private-label clients. The company's distribution spans traditional retail and e-commerce, ensuring a broad reach to consumers interested in wellness products.
