LOS ANGELES, Feb. 11, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — NUGL Inc. (NUGL) (the “Company”), a one-stop shop for all things cannabis through the intelligent connection of consumers and companies, is pleased to announce that it has significantly and beneficially converted its corporate debt. Approximately $540,000 in debt has been converted at $1.44, for an aggregate issuance of approximately 377,000 restricted common stock shares to noteholders of the Company.
“We are very pleased to further unencumber the Company via this beneficial debt restructuring,” stated Brandon Vargas, CEO, NUGL Inc. “This shows confidence in our efforts and the long-term commitment our investors have made to NUGL. We will work to deliver on the promise of a strong balance sheet and ability to grow market share month after month.”
“Additionally, we are most pleased to have begun to deploy our first significant out of network advertisements. We have taken our internal advertising platform and built copiabilities to run ads on any platform, any website in any industry. This expands our ability to advertise far beyond the reach of NUGL with limitless revenue opportunities,” added Vargas. “We have started to post ads for our client on third party websites last week.”
NUGL is the world’s first cannabis search app built for the people, by the people. Our goal is to build the most user-friendly app experience in the cannabis industry by listening to our users and giving them what they want. NUGL is the only cannabis search app that offers equal and unbiased search results. We don’t sell top-spot listings or fake reviews, so our data stays true. Use NUGL to search for genuine user-rated dispensaries, strains, doctors, lawyers, cannabis service providers, vape shops, hydro stores, brands and more. NUGL’s flexible web app has no geographic limitations and can rapidly connect cannabis companies, related vertical services and users. The NUGL iOS and Android app brings a powerful cannabis search tool within reach of anyone, anytime, anywhere with the ease of a smartphone.
NUGL wishes to continue to remind investors that there is unapproved information about NUGL being disseminated by unknown third parties. Investors are encouraged to rely only on the Company’s website, press releases and Investor Relations firm listed below for information.
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Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may include projections of matters that affect revenue, operating expenses or net earnings; projections of growth; and assumptions relating to the foregoing. Such forward-looking statements are generally qualified by terms such as: “plans”, “anticipates,” “expects,” “believes” or similar words of like kind. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or qualified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking information. These factors are discussed in greater detail in the company’s business plan and filings with the OTC Markets Group.
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