VNUE s Largest Creditor Converts $963,000 Of Debt Into Equity
YLimit Affirms Commitment to Growth and Future of the Company by Taking A Significant Equity Position
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NEW YORK, May 17, 2021 /PRNewswire/ VNUE, Inc. (OTCQB: VNUE) announced today that its largest and earliest investor, YLimit, LLC, has converted $963,000 of debt to equity. This represents a conversion by Ylimit of approximately 60% of its $1.6mm total debt. The conversion is a combination of $.014 per share for common shares, and $1.20 per share for the Company s Series A Preferred Shares.
The move significantly strengthens the Company s balance sheet and liquidity and places the Company in a much better position for its objectives, including the Company s current efforts seeking an uplisting to the OTCQB trading platform.