Forte Group Announces Strategic Financial Moves

Forte Group Holdings Inc., a lifestyle and wellness consumer goods company, has unveiled strategic initiatives to bolster its financial foundation. These include refinancing its subsidiary Naturo Group's second mortgage and converting certain debts into equity. CEO Marcello Leone emphasizes these steps reflect stakeholder confidence and further commitments to strengthening their balance sheet.

Naturo Group's recent refinancing increased its second mortgage from $1.1 million to $1.4 million, with interest rates starting at 14% annually, escalating to 23% after 12 months. Proceeds aim to address working capital and outstanding payables. This financial maneuvering is part of a broader strategy to reduce promissory note liabilities by $200,000, with more reductions planned to aid growth.

The conversion into common shares will occur at $0.48 per share, translating to 624,999 shares and aiding in liability reduction. The transaction completion is anticipated by January 17, 2025, as per Canadian Securities Exchange policies.