LFTD Partners Prepays Its Remaining Secured Debt Of $916K

LFTD Partners Prepays Its Remaining Secured Debt Of $916K

LFTD Partners Inc. LIFD has prepaid the remaining $916,668 of the principal of its note payable relating to the purchase of its subsidiary Lifted Made, Kenosha, WI, using free cash flow generated by Lifted Made's operations. The full payoff, which follows LFTD Partners' earlier prepayments of secured debt totaling $2,83 million over the past eight months, leaves LFTD Partners Inc. with no remaining secured debt.

William C. "Jake" Jacobs, LFTD Partners Inc.'s president and CFO, stated, "This prepayment of 100% of our secured debt is a true milestone that distinguishes our company from nearly all, if not all, of the other publicly traded cannabis companies."

Gerard M. Jacobs, LFTD Partners Inc.'s chairman and CEO, stated, "With LFTD Partners' secured debt completely paid off, we will now fully focus our attention on a significant potential acquisition that currently is under discussion, and on potential stock buybacks as may be approved by our board of directors from time to time."

About LFTD Partners Inc.
Publicly traded LFTD Partners Inc., Jacksonville, FL is the parent corporation of Lifted Made, Kenosha, WI, 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 and of craft distillers Bendistillery Inc. d/b/a Crater Lake Spirits and Bend Spirits, Inc. all located in Bend, OR.

Photo by Giorgio Trovato on Unsplash

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Posted In: Ablis Holding CompanyBend SpiritsBendistillery Inc. d/b/a Crater Lake SpiritsGerard M. JacobsInc.Lifted MadeWilliam C.CannabisNewsPsychedelicsMarkets

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