JACKSONVILLE, FL / ACCESSWIRE / June 8, 2022 / LFTD Partners Inc. (OTCQB:LIFD) (www.LFTDPartners.com) today announced that it has prepaid $916,666 of the principal of its $2,750,000 note payable relating to the purchase of its growing and profitable subsidiary Lifted Made, Kenosha, WI, using free cash flow generated by Lifted Made’s operations. The prepayment leaves LFTD Partners Inc. with only $1,833,334 of secured debt.
William C. “Jake” Jacobs, LFTD Partners Inc.’s President and CFO, said, “The continued outstanding performance of the talented team at Lifted Made, under the leadership of Nick Warrender, is generating free cash flow that has allowed us to simultaneously grow Lifted Made’s inventory and to make this substantial prepayment of $916,666 of the remaining principal of our secured debt incurred in the acquisition of Lifted Made, without incurring any new debt or issuing any new equity securities.”
Gerard M. Jacobs, LFTD Partners Inc.’s Chairman and CEO, said, “Access to attractively priced debt and equity capital in the cannabis sector is challenging these days. But fortunately our company is continuing to execute on our carefully conceived game plan of profitable growth in high quality branded consumer products. This has allowed us to keep moving the ball down the field for seven straight quarters using just our own free cash flow.”
About LFTD Partners Inc.
Publicly-traded LFTD Partners Inc., Jacksonville, FL (OTCQB: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.