NLEF - News!!! NLEF Note Holders Waive All Interest for $500,000 Gain
May 08, 2014 (ACCESSWIRE via COMTEX) -- SOUTHBURY, CT / ACCESSWIRE / May 8, 2014 / New Leaf Brands, Inc. (OTC:NLEF), a diversified beverage holding company acquiring brands, distributors and co-packers in North America has announced today that a majority of its note holders have waived all of their accrued and unpaid interest payments as well as all future interest due through FY 2014.
The un-audited accrued and unpaid interest through the first quarter 2014 represents approximately $420,000 and the remaining interest through FY 2014 is an additional $142,000 of benefit to the company, or $562,000 through all periods.
"Our note holders have again shown extraordinary resilience in supporting management's efforts to build shareholder value," said David N. Fuselier, Chairman and CEO of New Leaf Brands, Inc. "Their acceptance of management's request to waive historic and near term interest payments is a tangible example of their willingness to continue to sustain New Leaf's operations. This continues our effort at building a robust balance sheet that possesses positive net equity coupled with healthy operations."
New Leaf recently executed a $4MM Credit Facility with a $300MM TCA Global Fund to enhance its operations and to acquire proven operating companies in the beverage and food industry.
About New Leaf Brands
New Leaf Brands, Inc. (OTC:NLEF) is a diversified beverage holding company acquiring brands, distributors and co-packers in North America. For our customers, we provide high quality, great tasting beverages in well-placed consumer markets. For our shareholders, we acquire companies that build, maintain and nourish shareholder value. Our corporate mission is to be the best small-cap beverage holding company in North America. For more information please visit NLEFbrands.com, follow us on Twitter @NLEFBrands or email info@NLEFbrands.com.
This press release may contain forward-looking statements, made in reliance upon Section 21D of the Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. The Company's expectations, among other things, are dependent upon economic conditions, continued demand for its products, the availability of raw materials, retention of its key management and operating personnel, its ability to operate its subsidiary companies effectively, need for and availability of more capital as well as other uncontrollable or unknown factors which are more fully disclosed in the Company's 10-Ks and 10-Qs on file with the Securities and Exchange Commission.
For more information contact:
David N. Fuselier, CEO or
Annie Dance, Manager - Corporate Communications
(203) 628-7142
info@NLEFbrands.com
SOURCE: New Leaf Brands, Inc.
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