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Forza Innovations Inc. Announces $480,000 Financing Agreement
Forza Innovations Inc. Announces $480,000 Financing Agreement
SAN DIEGO, CA, June 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Forza Innovations Inc. (OTC Pink: FORZ) (the "Company") a health-tech wearable innovation company behind WarmUp products, is pleased to announce that the Company has entered into a promissory note in the principal amount of $480,000. The Note will bear interest at an interest rate of 10% per annum for the twelve-month term and is only convertible upon default. From the proceeds of the Note, the Company has paid off in full a previous promissory note in the principal amount of $180,000.
Johnny Forzani, President and CEO of the Company, stated, "The procurement of funding is the most important strategy in product development and innovation. Great inventors have failed due to not securing financing to keep the wheels turning. This financing will support our ongoing WarmUp business operations as well as new and exciting projects. Funding invested in the Company's R&D is money well spent. We have the resources to follow through with our project's growth potential and put out winners."
The Company is also pleased to announce that it has successfully issued and completed the first put pursuant to the $5,000,000 equity financing previously announced in a press release dated January 21, 2021. Johnny Forzani commented, "Utilizing this financial mechanism has been incredibly beneficial for the growth and success of Forza Innovations. We have expanded our team as well as invested in equipment and machinery needed to drive productivity and have laid the foundation for success."
Further information about the financing can be found in the Form 8-K that the Company has filed with the SEC on June 15, 2022.
About Forza Innovations Inc.
The Company is in the health-tech wearable performance business. The Company has acquired all of the ownership and the rights to certain late, developmental stage, WarmUp products. WarmUp are cutting edge, innovative, wearable, back compression devices. The therapeutic application of heat causes a change in temperature of the soft tissues which decreases joint stiffness and relieves inflammation.
Please refer to the Company's website
For further information please contact the Company at: info@forzinnovations.com
On behalf of the Board,
Forza Innovations Inc.
Johnny Forzani, President & Chief Executive Officer
Forward-Looking Statements
Some of the statements contained in this press release constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, such as statements regarding the closing of the exchange agreements and expected reduction in our total outstanding debt and annual interest payments. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology. The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, activity levels, performance, or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. We discuss many of these risks in greater detail under the heading "Risk Factors" in the quarterly and annual reports filed with the Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
SAN DIEGO, CA, June 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Forza Innovations Inc. (OTC Pink: FORZ) (the "Company") a health-tech wearable innovation company behind WarmUp products, is pleased to announce that the Company has entered into a promissory note in the principal amount of $480,000. The Note will bear interest at an interest rate of 10% per annum for the twelve-month term and is only convertible upon default. From the proceeds of the Note, the Company has paid off in full a previous promissory note in the principal amount of $180,000.
加利福尼亚州圣迭戈,2022年6月15日(Global Newswire)--通过NewMediaWire-Forza Innovation Inc.(场外粉色股票代码:FORZ),一家推出热身产品的健康科技可穿戴创新公司,高兴地宣布,公司已发行本金为48万美元的本票。该批债券的利息为年息10%,年期为12个月,并须在违约时方可兑换。从票据所得款项中,本公司已全额偿还前一张本金为180,000美元的期票。
Johnny Forzani, President and CEO of the Company, stated, "The procurement of funding is the most important strategy in product development and innovation. Great inventors have failed due to not securing financing to keep the wheels turning. This financing will support our ongoing WarmUp business operations as well as new and exciting projects. Funding invested in the Company's R&D is money well spent. We have the resources to follow through with our project's growth potential and put out winners."
公司总裁兼首席执行官约翰尼·福尔扎尼表示:“获得资金是产品开发和创新中最重要的战略。伟大的发明家由于没有获得资金来保持车轮运转而失败。这笔资金将支持我们正在进行的热身业务运营以及新的和令人兴奋的项目。投资于公司研发的资金是物有所值的。我们有资源来实现我们的项目的增长潜力,并推出获胜者。”
The Company is also pleased to announce that it has successfully issued and completed the first put pursuant to the $5,000,000 equity financing previously announced in a press release dated January 21, 2021. Johnny Forzani commented, "Utilizing this financial mechanism has been incredibly beneficial for the growth and success of Forza Innovations. We have expanded our team as well as invested in equipment and machinery needed to drive productivity and have laid the foundation for success."
本公司还高兴地宣布,根据先前在日期为2021年1月21日的新闻稿中宣布的500万美元股权融资,它已成功发行并完成了第一次看跌期权。约翰尼·福尔扎尼评论说:“利用这一金融机制对Forza Innovation的发展和成功非常有益。我们扩大了我们的团队,并投资于提高生产率所需的设备和机械,为成功奠定了基础。”
Further information about the financing can be found in the Form 8-K that the Company has filed with the SEC on June 15, 2022.
有关融资的更多信息,可以在公司于2022年6月15日提交给美国证券交易委员会的8-K表格中找到。
About Forza Innovations Inc.
关于Forza Innovation Inc.
The Company is in the health-tech wearable performance business. The Company has acquired all of the ownership and the rights to certain late, developmental stage, WarmUp products. WarmUp are cutting edge, innovative, wearable, back compression devices. The therapeutic application of heat causes a change in temperature of the soft tissues which decreases joint stiffness and relieves inflammation.
该公司从事健康科技可穿戴性能业务。该公司已获得某些后期、发展阶段、热身产品的所有所有权和权利。热身是尖端的、创新的、可穿戴的背部按压设备。热的治疗性应用会引起软组织温度的变化,从而降低关节僵硬和减轻炎症。
Please refer to the Company's website
For further information please contact the Company at: info@forzinnovations.com
请参阅公司网站
欲了解更多信息,请联系该公司:info@forzInnovations.com。
On behalf of the Board,
Forza Innovations Inc.
Johnny Forzani, President & Chief Executive Officer
我谨代表董事会,
Forza Innovation Inc.
约翰尼·福尔扎尼,总裁兼首席执行官
Forward-Looking Statements
前瞻性陈述
Some of the statements contained in this press release constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts, such as statements regarding the closing of the exchange agreements and expected reduction in our total outstanding debt and annual interest payments. In many cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology. The forward-looking statements contained in this press release reflect our current views about future events and are subject to risks, uncertainties, assumptions, and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, activity levels, performance, or achievements. Readers are cautioned not to place undue reliance on these forward-looking statements. We discuss many of these risks in greater detail under the heading "Risk Factors" in the quarterly and annual reports filed with the Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release reflect our views and assumptions only as of the date of this press release. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.
本新闻稿中包含的一些陈述属于前瞻性陈述。前瞻性陈述涉及预期、信念、预测、未来计划和战略、预期事件或趋势,以及与非历史事实有关的类似表述,例如有关交换协议的结束以及我们的未偿债务总额和年度利息支付预期减少的陈述。在许多情况下,您可以通过“可能”、“将会”、“应该”、“预期”、“计划”、“预期”、“相信”、“估计”、“预测”、“展望”、“潜在”或这些术语或其他类似术语的负面含义来识别前瞻性陈述。本新闻稿中包含的前瞻性陈述反映了我们对未来事件的当前看法,受风险、不确定性、假设和环境变化的影响,这些风险、不确定性、假设和环境变化可能会导致事件或我们的实际活动或结果与任何前瞻性陈述中所表达的大不相同。尽管我们认为前瞻性陈述中反映的预期是合理的,但我们不能保证未来的事件、结果、行动、活动水平、业绩或成就。告诫读者不要过度依赖这些前瞻性陈述。我们在提交给美国证券交易委员会(美国证券交易委员会)的季度和年度报告中的“风险因素”标题下更详细地讨论了其中许多风险。本新闻稿中包含的前瞻性陈述仅代表我们截至本新闻稿发布之日的观点和假设。我们没有义务更新任何前瞻性声明,以反映声明发表之日之后的事件或情况,或反映意外事件的发生。
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在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
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