Livento Group announces the settlement of the promissory note and an equity investment
New York, NY,
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May 25, 2023 02:00 PM Eastern Daylight Time
NuGene International, Inc./Livento Group, Inc. (OTC: NUGN), a fully public reporting holding company to the U.S. Securities and Exchange Commission has obtained new financing from leading institutional investor in the United States.
The investor has acquired an old note of Livento Group from Kodiak Capital Group LLC. (“KCG”) and as part of the transaction, Livento Group has issued 40,000 shares of its newly created Series E Preferred Stock. Livento’s management has announced that a potential loss/dispute has been averted, where KCG could have claimed an outstanding balance on the note, including interest and penalties, exceeding $600,000.
In addition to acquiring an old pending note of Livento Group, the investor has agreed to make an initial investment of up to $750,000 in the company in restricted F class shares. The Investment is expected to have a positive impact on Livento Group’s financial position and represents a significant step forward in the company’s continued growth strategy. Furthermore, the investor has expressed its intention to invest additional funds in Livento Group at a later stage. The investment is seen as a validation of Livento Group’s business model and its management team’s ability to execute its growth plans.
Livento Group is gaining significant attention in the investment industry with its innovative approach to building great businesses. This investment is a significant vote of confidence in Livento Group’s potential for growth and innovation. As one of the prominent institutional investors in the United States, this company is renowned for its ability to identify promising companies and support their development and expansion.
Livento Group’s potential for success is underscored by this investment, serving as a compelling testament to their capabilities. “Securing this investment fills us with immense excitement,” expressed David Stybr, CEO of Livento Group. The infusion of capital will empower us to persistently drive innovation, introducing novel products and services to the market. We eagerly anticipate a prosperous partnership ahead.”
The investment will provide Livento Group with the necessary resources to accelerate its growth and expand its reach in the market. The access to capital provided by the investor will be used by Livento for further investment by the group.
About Livento Group, Inc.
Livento Group (OTC: NUGN) is focused on acquiring and developing companies with disruptive business models. The company recently launched BOXO Productions, a film and television production subsidiary led by a top actor and producers in the industry. For more information, visit www.liventogroup.com and www.boxoproductions.com.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements as predictions, projections, or references future events and expectations, possibilities or similar. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. Although the Company believes the expectations reflected in our forward-looking statements are based on reasonable assumptions, the Company is unable to give any assurance that its expectations will be attained due to several variable factors. Factors or events that could cause actual results to differ may emerge, and it is impossible for the Company to predict all of them. Some of these risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, in customer order patterns, changes in consumer trends, and various other factors beyond the Company's control. Although the Company intends to provide public updates, it undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Contact:
David Stybr, CEO
Livento Group, Inc.
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Livento Group, Inc.
