Branded Legacy, Inc. (OTC: BLEG) has eliminated approximately $1 million in legacy convertible debt that originated under prior management, marking a significant financial milestone for the company. The new leadership team, led by Dr. Jamie Forrest, PhD, MPH, conducted a comprehensive review of historical obligations before negotiating favorable terms with debt holders to retire these instruments. This strategic move provides immediate improvement to the company's balance sheet while reducing future dilution risk for shareholders.
The debt elimination increases financial flexibility as Branded Legacy focuses on its core mission in addiction treatment and harm reduction. The company operates through its subsidiary, BioLegacy Evaluative Group, and collaborates with institutions including McMaster University and Stanford University to drive research and innovation in public health. These partnerships are detailed on the company's website at https://BrandedLegacy.com. Management emphasized that this financial restructuring supports the company's commitment to advancing evidence-based solutions in the addiction treatment space.
Branded Legacy maintains a state-of-the-art GMP manufacturing facility in Vancouver, which supports advanced production capabilities for cutting-edge products. The company is continuing to work with OTC Markets Group to update its issuer profile and disclosures on OTCMarkets.com while focusing on completing remaining requirements to remove the Yield Sign designation. This regulatory progress is part of management's commitment to transparent, factual, and milestone-based communications with stakeholders. The press release announcing this development was distributed through InvestorWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN, with more information available at https://www.InvestorWire.com.
The elimination of legacy debt represents a strategic shift for Branded Legacy as it positions itself for sustainable growth in the addiction treatment sector. By removing these financial obligations, the company reduces interest expenses and avoids potential equity dilution that could have occurred if the convertible debt had been exercised. This action demonstrates the new management team's focus on creating long-term shareholder value while maintaining operational excellence in their Vancouver manufacturing facility. The company's collaboration with leading academic institutions continues to drive innovation in public health research, particularly in harm reduction methodologies that address the ongoing addiction crisis.
