Forte Group Enhances Financial Position with Debt Conversion

Forte Group Holdings Inc. has announced a significant step to improve its balance sheet. The company has converted $200,000 in secured promissory notes and $100,000 of a second mortgage into 624,998 common shares, valued at $0.48 per share. This transaction aims to reduce liabilities and strengthen Forte Group's financial standing. The newly issued shares will be subject to a statutory hold period ending on May 21, 2025.

The move is part of a broader strategy to enhance working capital and foster long-term growth. Since December 2023, Forte Group's Naturo Group subsidiary raised $1,382,065 through promissory note offerings. Conversions from these notes have already reduced liabilities by $597,064.70, leaving approximately $785,000 outstanding.

This initiative is crucial for positioning Forte Group for sustained growth in the wellness and consumer packaged goods sectors.