Trident Brands Incorporated Announces Investor Commitment to Convert Debt to Equity
BROOKFIELD, WI, Jan. 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Trident Brands, Inc (OTCQB: TDNT) announced today that Fengate Trident LP has agreed to convert a significant portion of the outstanding convertible debt it holds into equity, on or before the maturity date of the notes (subject to finalizing details around the share structure for the conversion). In addition, Fengate Trident LP has agreed to extend the maturity date of the remaining notes to December 1, 2021. Details of the agreement can be found in Trident’s 8-k filing January 23, 2020.
Scott Chapman, President of Trident, stated, "We are delighted that the LiUNA Pension Fund of Central and Eastern Canada, through Fengate Trident LP, have elected to become a long-term equity partner supporting Trident’s growth strategy. This commitment strengthens our financial position and capital structure and will allow the company to accelerate commercial development in the health & wellness segment, including Brain Armor brand growth in the rapidly developing brain health market which is expected to reach $10.7 billion by 2025.”
About Trident Brands, Inc.
Trident Brands Incorporated is a publicly-traded nutraceutical company (OTCQB: TDNT), structured to rapidly develop private label, control label, brand label, and proprietary ingredient platforms in the dynamic active nutrition, dietary supplement, and functional ingredient categories. For more information, please visit www.tridentbrands.com.
About Brain Armor
Brain Armor is on a mission to improve cognitive health, well-being, and performance at every stage of life and on every field of play. Our products are clinically-proven dietary supplements formulated with omega-3, healthy fats, and vital nutrients, designed to support structural brain health and performance. Brain Armor products are vegetarian, made in the USA and are a regular part of many professional and elite amateur athlete and team conditioning programs. Brain Armor Inc. is a subsidiary of Trident Brands Incorporated (OTCQB: TDNT -- tridentbrands.com). For more information on Brain Armor, please visit www.brainarmor.com and www.thelivingbrainproject.com.
This press release contains "forward-looking statements" within the meaning of the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995 that are not historical facts. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and the Company's future performance, operations, and products. Such statements involve known and unknown risks, uncertainties and other factors that could cause the Company's actual results to differ materially from the results expressed or implied by such statements. Such risks and uncertainties include, without limitation, regulatory compliance and acceptance of the planned debt conversion by Fengate Trident LLP, market acceptance of the Company's forthcoming line of nutritional products; the Company's compliance with applicable Food and Drug Administration regulations; the Company's reliance on third-party contractors to mix and produce its products; the Company's ability to develop an effective marketing strategy; the Company's ability to control advertising and marketing costs; the Company's ability to develop and increase awareness of its forthcoming brands; the success of the Company's marketing focus to retail buyers; the Company's exposure to product liability claims and intellectual property claims from third parties; and the Company's reliance on the expected growth in demand for its products. For a discussion of these and other risks and uncertainties see "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's public filings with the SEC. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The Company has no obligation to update the forward-looking information contained in this press release.
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