$KEGS 1812 Brewing Company in Discussions to Restr
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Posted On: 07/26/2022 1:06:13 PM
$KEGS 1812 Brewing Company in Discussions to Restructure Remaining Convertible Debentures
https://www.globenewswire.com/news-release/20...tures.html
Watertown, NY, July 26, 2022 (GLOBE NEWSWIRE) -- 1812 BREWING COMPANY, INC. (OTC Pink: KEGS) (the "Company" or “KEGS”) is pleased to announce that it is in advanced discussions with third parties regarding the potential restructuring of convertible notes with a face value of over $13 million. Chairman and CEO, Tom Scozzafava, stated, “We realize these notes must be reduced or eliminated for the Company to move forward, and we hope that these discussions lead to a pathway to do just that.”
Additionally Mr. Scozzafava stated, “And to offset recent share issuances, I shall eliminate an additional 500 million shares of common stock that I hold, which will equate to 1 billion shares of my holdings eliminated.”
https://www.globenewswire.com/news-release/20...tures.html
Watertown, NY, July 26, 2022 (GLOBE NEWSWIRE) -- 1812 BREWING COMPANY, INC. (OTC Pink: KEGS) (the "Company" or “KEGS”) is pleased to announce that it is in advanced discussions with third parties regarding the potential restructuring of convertible notes with a face value of over $13 million. Chairman and CEO, Tom Scozzafava, stated, “We realize these notes must be reduced or eliminated for the Company to move forward, and we hope that these discussions lead to a pathway to do just that.”
Additionally Mr. Scozzafava stated, “And to offset recent share issuances, I shall eliminate an additional 500 million shares of common stock that I hold, which will equate to 1 billion shares of my holdings eliminated.”
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