FLOWER MOUND, TX / ACCESSWIRE / October 5, 2021 / Black Bird Biotech, Inc. (OTC PINK:BBBT), manufacturer of plant-based MiteXstreamTM biopesticide, announced today that it has repaid approximately $225,000 in remaining indebtedness under three separate convertible notes with cash payments. BBBT's move served to protect shareholders from a potentially significant market overhang attributable to below-market conversion rates.
"We took on these convertible obligations as a bridge that allowed us to accomplish important milestones, and now we are moving forward with the objective of being debt-free by the close of 2021," said Fabian Deneault, President of BBBT.
For news and updates, shareholders, prospective investors and prospective business partners are encouraged to follow @BBBT_Corporate on Twitter (https://twitter.com/BBBT_Corporate). Also visit BBBT's corporate website, https://blackbirdbiotech.com, for additional information about the company.
About BBBT
Black Bird Biotech is positioned to exploit market segments with powerful, re-imagined biotech products. Its EPA-registered biopesticide, MiteXstreamTM, eradicates mites and similar pests, including spider mites (a lethal pest in cannabis, grapes, hops, coffee, strawberries and many other agricultural crops), and eliminates molds and mildews. MiteXstreamTM is a pesticide, but it is not a poison - it's a pesticide re-imagined. The MiteXstreamTM Edge: use through the day of harvest without concern for residual "pesticide" violations, including in state cannabis testing. MiteXstreamTM is the foundational element of the company that carries vast potential worldwide as a highly effective, safe and extremely cost-effective replacement for many traditional "poisonous" pesticides.
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact:
Eric Newlan
Vice President
833-223-4204
eric@newlan.com
www.blackbirdbiotech.com
SOURCE: Black Bird Biotech, Inc.
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https://www.accesswire.com/666823/Black-Bird-Biotech-Retires-Three-Separate-Convertible-Notes-with-Cash-Repayments
