Company Terminates Convertible Lending Relationship and Continues Strategic Efforts to Strengthen Financial Position
JACKSON, WY / ACCESS Newswire / June 4, 2026 / LTNC today announced a significant milestone in its ongoing balance sheet restructuring initiative, retiring more than $1.2 million in convertible debt, eliminating future toxic dilution associated with the obligation, and terminating its relationship with the convertible lender.
Management believes the transaction represents an important step in strengthening the Company's capital structure and reflects its commitment to reducing legacy liabilities, improving financial flexibility, enhancing credit relationships, and creating long-term shareholder value.
The retirement of the convertible debt removes a potential source of future dilution and is part of a broader restructuring strategy designed to improve LTNC's overall financial health. The Company is currently engaged in discussions with lenders, former management, and insider note holders regarding additional restructuring initiatives intended to improve cash flow, align obligations with operating performance, and further strengthen the balance sheet.
The Company continues to focus on improving liquidity, strengthening creditor relationships, reducing legacy obligations, and building a more sustainable financial foundation to support future growth initiatives.
Scott Darnell, Chairman of LTNC, stated:
"Retiring more than $1.2 million in convertible debt and eliminating future toxic dilution is a meaningful step for the Company and its shareholders. We remain focused on strengthening the balance sheet, improving financial flexibility, and creating a capital structure that supports long-term growth.
While there is additional work ahead, we believe progress is being made. Our focus remains on executing the business plan, improving the Company's financial position, and creating long-term value for shareholders."
The Company expects to continue providing updates regarding debt reduction efforts, restructuring initiatives, operational developments, strategic partnerships, and growth opportunities as additional milestones are achieved.
About LTNC / Kultura Brands
LTNC, through its Kultura Brands platform, is focused on building, acquiring, developing, and scaling consumer brands across high-growth categories. The Company's strategy combines operational execution, disciplined financial management, strategic distribution, and long-term value creation for shareholders.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding debt reduction initiatives, restructuring efforts, negotiations with creditors and lenders, capital structure improvements, liquidity enhancements, financial flexibility, future growth opportunities, strategic initiatives, shareholder value creation, and future business performance. Forward-looking statements are based on current expectations, estimates, forecasts, and assumptions that involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such statements due to a variety of factors, including but not limited to the Company's ability to successfully execute restructuring initiatives, negotiate favorable terms with creditors and lenders, maintain sufficient liquidity, execute strategic plans, achieve anticipated growth, and other risks disclosed in the Company's public filings. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statements except as required by applicable law.
Investor Relations
Kultura Brands
IR@kulturabrands.com
kulturabrands.com
$LTNC
SOURCE: Kultura Brands, Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/food-and-beverage-products/ltnc-retires-over-1.2-million-in-convertible-debt-eliminates-future-toxi-1173479
