BFYW Announces Conversion of Nearly $352,000 of Outstanding Debt into Common Equity

Chairman of the Board and Chief Branding Officer exchange Deferred Compensation, Reinforcing Confidence in the Company’s Future Direction

Better For You Wellness (OTCMKTS:BFYW)

COLUMBUS, OH, US, March 5, 2024 /EINPresswire.com/ — Better For You Wellness, Inc. (OTCM: BFYW) (the “Company”), a pioneering Ohio-based plant-based and science-focused wellness company in the flourishing $1.5 trillion wellness industry, proudly declares the successful conversion of nearly $352,000 of outstanding debt into common equity.

This strategic move represents a reduction of more than 13% of the Company’s total liabilities as of the fiscal year ending February 28, 2024, marking a crucial milestone in the Company’s financial roadmap.

The Debt Reduction initiative, sanctioned unanimously by the Board of Directors as part of the BFYW Growth Initiative, involved issuing 87,995,763 restricted common shares above market price at $0.004 per share. This conversion was executed at a premium to the last traded price per share, showcasing BFYW’s commitment to fortifying its financial foundation.

During the fiscal year 2024, Chairman and CEO Ian James, alongside Chief Branding Officer Stephen Letourneau, demonstrated unwavering confidence in the Company’s future by personally funding much of the operation and ensuring funds went into the Company for brand development and deferring compensation of $199,196.08 and $152,786.97, respectively. In a bold move, both leaders converted all their deferred compensation amounts into equity, eliminating $351,983.05 in liabilities from BFYW’s balance sheet.

This significant Debt Reduction bolsters the Company’s financial position and positions BFYW to focus resolutely on its Growth Initiative, particularly emphasizing expanding its flagship product, the Stephen James Curated Coffee Collection.

Ian James, Chairman and CEO, expressed, “The conversion underscores Stephen’s and my unwavering belief in BFYW’s potential and strategic direction. We are confident that this move will enhance BFYW’s financial structure and send a powerful signal to investors and stakeholders about the promising future the Company has with BFYW’s Growth Initiative and the expansion of the Stephen James Curated Coffee Collection in Kroger and other grocers. We look forward to the exciting journey ahead as we embark on this new chapter of expansion and success.”

BFYW undertook a comprehensive competitive market analysis, meticulously examining ten key publicly traded coffee companies, which provided valuable insights into their TTM Revenue and Market Cap. Notably, several companies weathered challenges, and reporting negative price-to-earnings: conversely, the BFYW growth initiative projects break-even by the 20th month post-funding and sustained profitability in the foreseeable future. The vivid results of this analysis reinforce BFYW’s conviction in taking brands to the public market, underlining the substantial growth potential awaiting investors in BFYW Stock.

About Better For You Wellness:

Better For You Wellness, Inc. (OTC: BFYW) is an Ohio-based plant-based and science-focused wellness company dedicated to providing high-quality, innovative products that enhance well-being and promote a balanced lifestyle. Better For You Wellness is leading the way in the wellness industry with a solid commitment to clean beauty and natural ingredients. Learn more at https://BFYW.com.

Forward-Looking Statements

This press release may contain forward-looking statements that involve risks and uncertainties. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology including “could,” “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential” and the negative of these terms or other comparable terminology. While these forward-looking statements and any assumptions upon which they are based are made in good faith and reflect our current judgment regarding the direction of our business, actual results may vary, sometimes materially, from any estimates, predictions, projections, assumptions, or other future performance suggested in this press release. Except as applicable law requires, we do not intend to update any forward-looking statements to conform these statements to actual results. Investors should refer to the risks disclosed in the Company’s reports filed with SEC (https://www.sec.gov/).

While BFYW may elect to update these forward-looking statements at some point in the future, BFYW specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing BFYW’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Ian James
Better For You Wellness
+1 614-589-4600
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