Glucose Health, Inc. Raises
$460,000 from Angel Investors; Eliminates
Dilutive Convertible Debt
Security, Benefitting All
Shareholders.
BENTONVILLE,
ARKANSAS -- May 6, 2019
-- InvestorsHub NewsWire -- Glucose Health, Inc.
(OTC:
GLUC) ("GLUC" "Company")
has
raised $460,000 from a group which
includes sophisticated
beverage
industry angel investors. A portion of
the
$460,000
investment
proceeds,
received
in
the
Company's bank account last week,
was
immediately
deployed
for
full and
final payment of a $165,365
dilutive
"convertible
to
equity" debt
security, which
originated from
convertible
promissory
note financings
entered
into by
GLUC,
beginning
in fiscal year
2013.
CEO
Murray Fleming stated, "sophisticated
beverage
industry investors
are
now
backing
GLUC
with
hundreds
of thousands of dollars of new
capital,
enabling
our Company to
eliminate
a
legacy
dilutive convertible
debt
security, for the
great
benefit
of all existing
shareholders." "This
new
investment capital
and the
Company's consequently
improved
balance sheet, will
attract
many
new
GLUC
shareholders
going
forward, and supports a
strengthening
stock
price."
Based
upon a pro-forma estimate
using the most recently
published GLUC balance sheet (December 31, 2018), total non-related
party convertible debt is expected to
be reduced
by
82%, from $194,611 to
$34,876.
CEO
Murray Fleming stated, "this
remaining
$34,876 of non-related
party convertible
debt is not a
significant
dilutive risk
in the
near term, and
accordingly I have elected to not
retire it, at this
time".
In
addition to the
capital
eliminating
the legacy
dilutive
convertible
debt
security,
more
than $200,000
of
new working
capital will be put to
work expanding
GLUCODOWN® operations.
GLUCODOWN® is the
premier functional beverage in the diabetic nutritional consumer
category and is available
in-store at Walmart pharmacies in all 50 States and online at
Amazon.
CEO
Murray Fleming stated, "We will
immediately begin
to increase
inventory
to better
serve our existing
retailer
partners and to ensure we are
prepared for increasing
distribution of
GLUCODOWN® when
adding
new
retailers." "This new working
capital will
enable
faster
introduction
of new GLUCODOWN®
products including
our
instant
coffee
mix for
the diabetic nutritional category."
The
$460,000 investment
was
structured in
the form
of restricted common
stock and cumulative preferred stock. Further
information is
available
in GLUC's Form D filing available at the Securities and Exchange
Commission website. Additional details will also be
provided
in
the
Company's quarterly
reports
published
at OTCMarkets.com.
About Glucose
Health, Inc. (OTC:
GLUC)
Manufactured by
Glucose Health, Inc. (OTC: "GLUC"),
GLUCODOWN® is the premier functional tea beverage in the diabetic
nutritional consumer category, which encompasses the more than 100
million Americans estimated to be diabetic or pre-diabetic, by the
Centers for Disease Control and Prevention.1 GLUCODOWN® is a
unique and compelling functional beverage and the first tea
mix ever to be
enriched
with healthy soluble fiber.
Glucose
Health, Inc. is a publicly-traded company with the ticker symbol
(OTC:
GLUC). GLUCODOWN® is proudly manufactured in the
USA.
1National
Diabetes Statistics Review, 2017; Centers for Disease Control and
Prevention, Department of Health and Human Services.
Contact:
Murray
Fleming
Glucose Health,
Inc.
(479)
802-3827